Deutsche Bank AG reduced its stake in shares of Pilgrim's Pride Co. (NASDAQ:PPC) by 5.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 869,325 shares of the company’s stock after selling 46,364 shares during the period. Deutsche Bank AG owned approximately 0.35% of Pilgrim's Pride worth $26,998,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of PPC. The Manufacturers Life Insurance Company raised its stake in Pilgrim's Pride by 9.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,203 shares of the company’s stock valued at $201,000 after purchasing an additional 798 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Pilgrim's Pride during the 3rd quarter valued at about $251,000. Alps Advisors Inc. purchased a new stake in shares of Pilgrim's Pride during the 3rd quarter worth about $461,000. BNP Paribas Arbitrage SA grew its holdings in shares of Pilgrim's Pride by 150.1% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 54,311 shares of the company’s stock worth $1,543,000 after purchasing an additional 32,593 shares during the period. Finally, Sei Investments Co. grew its holdings in shares of Pilgrim's Pride by 28.8% during the 3rd quarter. Sei Investments Co. now owns 169,247 shares of the company’s stock worth $4,808,000 after purchasing an additional 37,851 shares during the period. Institutional investors own 25.10% of the company’s stock.
In other news, CEO William W. Lovette sold 100,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $25.36, for a total transaction of $2,536,000.00. Following the completion of the sale, the chief executive officer now owns 578,653 shares in the company, valued at $14,674,640.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 78.81% of the company’s stock.
Shares of PPC stock traded up $0.02 during trading on Thursday, reaching $23.88. The company had a trading volume of 970,805 shares, compared to its average volume of 1,362,351. Pilgrim's Pride Co. has a one year low of $20.28 and a one year high of $38.39. The company has a market capitalization of $5,987.98, a price-to-earnings ratio of 8.26 and a beta of 0.19. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.87 and a current ratio of 1.73.
Pilgrim's Pride (NASDAQ:PPC) last posted its earnings results on Wednesday, February 14th. The company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.05. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.56 billion. Pilgrim's Pride had a return on equity of 49.74% and a net margin of 7.08%. analysts forecast that Pilgrim's Pride Co. will post 3.07 EPS for the current fiscal year.
Several equities analysts have recently commented on PPC shares. ValuEngine cut Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 15th. BidaskClub cut Pilgrim's Pride from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Zacks Investment Research cut Pilgrim's Pride from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 4th. BMO Capital Markets decreased their target price on Pilgrim's Pride to $31.00 and set a “market perform” rating for the company in a research note on Friday, February 16th. Finally, Morgan Stanley set a $25.00 price target on Pilgrim's Pride and gave the company a “hold” rating in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Pilgrim's Pride presently has a consensus rating of “Hold” and an average target price of $28.80.
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Pilgrim's Pride Company Profile
Pilgrim’s Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.
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