Neo Ivy Capital Management Sells 19,766 Shares of Pilgrim’s Pride Corporation $PPC

Neo Ivy Capital Management trimmed its stake in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 85.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,478 shares of the company’s stock after selling 19,766 shares during the period. Neo Ivy Capital Management’s holdings in Pilgrim’s Pride were worth $142,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. True Wealth Design LLC lifted its position in shares of Pilgrim’s Pride by 1,248.5% during the 3rd quarter. True Wealth Design LLC now owns 917 shares of the company’s stock worth $37,000 after buying an additional 849 shares during the period. Abich Financial Wealth Management LLC bought a new stake in Pilgrim’s Pride in the third quarter valued at $41,000. Clearstead Advisors LLC raised its stake in Pilgrim’s Pride by 1,522.6% during the third quarter. Clearstead Advisors LLC now owns 1,006 shares of the company’s stock worth $41,000 after acquiring an additional 944 shares in the last quarter. Quent Capital LLC bought a new position in shares of Pilgrim’s Pride during the third quarter valued at $55,000. Finally, Rothschild Investment LLC lifted its holdings in shares of Pilgrim’s Pride by 186,700.0% during the third quarter. Rothschild Investment LLC now owns 1,868 shares of the company’s stock valued at $76,000 after acquiring an additional 1,867 shares during the period. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Performance

Shares of NASDAQ:PPC opened at $40.75 on Monday. The business has a fifty day moving average of $41.61 and a 200-day moving average of $40.50. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.76 and a current ratio of 1.47. Pilgrim’s Pride Corporation has a twelve month low of $35.73 and a twelve month high of $56.88. The firm has a market cap of $9.68 billion, a PE ratio of 8.98 and a beta of 0.41.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.14). Pilgrim’s Pride had a return on equity of 35.15% and a net margin of 5.85%.The company had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same quarter last year, the company earned $1.35 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities research analysts predict that Pilgrim’s Pride Corporation will post 5.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PPC has been the topic of several analyst reports. BMO Capital Markets upped their target price on shares of Pilgrim’s Pride from $40.00 to $42.00 and gave the stock a “market perform” rating in a report on Friday, February 13th. Wall Street Zen downgraded shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a report on Sunday, February 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pilgrim’s Pride in a research note on Monday, December 29th. Santander raised shares of Pilgrim’s Pride from a “neutral” rating to an “outperform” rating in a report on Thursday, December 11th. Finally, Zacks Research cut shares of Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $44.33.

Insiders Place Their Bets

In related news, CFO Matthew R. Galvanoni sold 6,963 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $43.52, for a total value of $303,029.76. Following the completion of the transaction, the chief financial officer owned 91,397 shares in the company, valued at $3,977,597.44. The trade was a 7.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 82.56% of the stock is owned by company insiders.

Pilgrim’s Pride Profile

Pilgrim’s Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim’s Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.

The company’s vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.