Tudor Investment Corp ET AL Has $4.63 Million Position in Pilgrim’s Pride Corporation $PPC

Tudor Investment Corp ET AL boosted its position in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 2,486.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 113,788 shares of the company’s stock after purchasing an additional 109,388 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Pilgrim’s Pride were worth $4,633,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC lifted its holdings in shares of Pilgrim’s Pride by 1,248.5% during the third quarter. True Wealth Design LLC now owns 917 shares of the company’s stock worth $37,000 after buying an additional 849 shares in the last quarter. Abich Financial Wealth Management LLC bought a new stake in shares of Pilgrim’s Pride in the third quarter valued at about $41,000. Clearstead Advisors LLC grew its stake in shares of Pilgrim’s Pride by 1,522.6% in the third quarter. Clearstead Advisors LLC now owns 1,006 shares of the company’s stock valued at $41,000 after acquiring an additional 944 shares in the last quarter. Quent Capital LLC acquired a new position in shares of Pilgrim’s Pride in the third quarter valued at about $55,000. Finally, Allworth Financial LP increased its position in Pilgrim’s Pride by 561.2% during the third quarter. Allworth Financial LP now owns 1,825 shares of the company’s stock worth $74,000 after acquiring an additional 1,549 shares during the period. 16.64% of the stock is owned by institutional investors and hedge funds.

Pilgrim’s Pride Trading Up 0.6%

Shares of Pilgrim’s Pride stock opened at $35.42 on Thursday. The company has a market capitalization of $8.41 billion, a price-to-earnings ratio of 7.80 and a beta of 0.41. The company has a quick ratio of 0.76, a current ratio of 1.47 and a debt-to-equity ratio of 0.84. Pilgrim’s Pride Corporation has a 12-month low of $34.39 and a 12-month high of $56.73. The firm’s 50-day moving average price is $40.89 and its two-hundred day moving average price is $39.79.

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

Insider Buying and Selling

In other Pilgrim’s Pride news, CFO Matthew R. Galvanoni sold 6,963 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $43.52, for a total transaction of $303,029.76. Following the completion of the sale, the chief financial officer directly owned 91,397 shares in the company, valued at $3,977,597.44. This represents a 7.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 82.56% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Wall Street Zen cut shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research note on Sunday, February 15th. Zacks Research lowered shares of Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 11th. BMO Capital Markets lowered their target price on shares of Pilgrim’s Pride from $42.00 to $40.00 and set a “market perform” rating on the stock in a report on Wednesday. Barclays dropped their price target on shares of Pilgrim’s Pride from $49.00 to $45.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 9th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Pilgrim’s Pride in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.67.

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.