Rhumbline Advisers Has $742,000 Position in Pilgrim’s Pride Co. (PPC)

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Rhumbline Advisers lifted its position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,815 shares of the company’s stock after acquiring an additional 1,108 shares during the period. Rhumbline Advisers’ holdings in Pilgrim’s Pride were worth $742,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in shares of Pilgrim’s Pride by 12.6% during the third quarter. JPMorgan Chase & Co. now owns 2,917,939 shares of the company’s stock valued at $52,785,000 after acquiring an additional 327,140 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Pilgrim’s Pride by 1.5% during the third quarter. AQR Capital Management LLC now owns 2,403,598 shares of the company’s stock valued at $43,481,000 after acquiring an additional 35,385 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Pilgrim’s Pride by 28.0% during the third quarter. Canada Pension Plan Investment Board now owns 1,239,600 shares of the company’s stock valued at $22,424,000 after acquiring an additional 270,900 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Pilgrim’s Pride by 11.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,091,861 shares of the company’s stock valued at $19,751,000 after acquiring an additional 109,492 shares in the last quarter. Finally, Personal Capital Advisors Corp boosted its holdings in Pilgrim’s Pride by 3.2% in the fourth quarter. Personal Capital Advisors Corp now owns 957,562 shares of the company’s stock worth $14,852,000 after purchasing an additional 29,247 shares during the last quarter. 18.80% of the stock is owned by institutional investors.

PPC has been the topic of several research reports. BidaskClub upgraded shares of Pilgrim’s Pride from a “hold” rating to a “buy” rating in a report on Saturday, March 9th. Jefferies Financial Group restated a “hold” rating and issued a $19.00 target price on shares of Pilgrim’s Pride in a report on Sunday, February 17th. ValuEngine upgraded shares of Pilgrim’s Pride from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. Zacks Investment Research upgraded shares of Pilgrim’s Pride from a “strong sell” rating to a “hold” rating in a report on Monday, January 7th. Finally, Stephens initiated coverage on shares of Pilgrim’s Pride in a report on Monday, March 4th. They issued an “overweight” rating and a $19.75 target price on the stock. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $22.63.

In other news, CEO William W. Lovette sold 86,425 shares of Pilgrim’s Pride stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $20.30, for a total transaction of $1,754,427.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 78.81% of the company’s stock.

Shares of PPC stock opened at $20.94 on Friday. Pilgrim’s Pride Co. has a 12-month low of $14.83 and a 12-month high of $25.98. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.83 and a current ratio of 1.72. The company has a market capitalization of $5.21 billion, a P/E ratio of 16.36 and a beta of 0.79.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings results on Wednesday, February 13th. The company reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.09). The business had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Pilgrim’s Pride had a return on equity of 16.52% and a net margin of 2.27%. The company’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.54 EPS. As a group, equities analysts predict that Pilgrim’s Pride Co. will post 1.4 EPS for the current year.

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Pilgrim’s Pride Company Profile

Pilgrim's Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products in the United States, the United Kingdom, Europe, and Mexico. The company offers fresh chicken products, including pre-marinated or non-marinated refrigerated (nonfrozen) whole or cut-up chicken; and prepackaged case-ready chicken, such as whole chickens and chicken parts.

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Institutional Ownership by Quarter for Pilgrim`s Pride (NASDAQ:PPC)

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