Atria Investments Inc Reduces Stock Position in Pilgrim’s Pride Corporation $PPC

Atria Investments Inc cut its stake in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 22.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,018 shares of the company’s stock after selling 1,481 shares during the quarter. Atria Investments Inc’s holdings in Pilgrim’s Pride were worth $226,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PPC. Dimensional Fund Advisors LP boosted its holdings in Pilgrim’s Pride by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,903,586 shares of the company’s stock worth $158,261,000 after purchasing an additional 29,549 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Pilgrim’s Pride by 25.9% in the 1st quarter. AQR Capital Management LLC now owns 2,370,927 shares of the company’s stock worth $128,599,000 after buying an additional 487,219 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Pilgrim’s Pride by 15.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,243,039 shares of the company’s stock worth $67,758,000 after acquiring an additional 166,967 shares during the period. Assetmark Inc. increased its position in Pilgrim’s Pride by 11.7% during the second quarter. Assetmark Inc. now owns 1,196,423 shares of the company’s stock valued at $53,815,000 after acquiring an additional 125,530 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in Pilgrim’s Pride by 77.0% during the first quarter. Cubist Systematic Strategies LLC now owns 785,098 shares of the company’s stock valued at $42,796,000 after acquiring an additional 341,517 shares during the last quarter. Institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Price Performance

NASDAQ PPC opened at $37.65 on Friday. The company has a current ratio of 1.63, a quick ratio of 0.88 and a debt-to-equity ratio of 0.83. Pilgrim’s Pride Corporation has a 12 month low of $35.73 and a 12 month high of $57.16. The stock has a market cap of $8.94 billion, a price-to-earnings ratio of 7.30 and a beta of 0.48. The company’s 50 day moving average is $39.55 and its two-hundred day moving average is $44.44.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. The firm had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Pilgrim’s Pride had a net margin of 6.70% and a return on equity of 37.75%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.63 earnings per share. As a group, research analysts anticipate that Pilgrim’s Pride Corporation will post 5.13 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wall Street Zen downgraded Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. The Goldman Sachs Group dropped their price objective on shares of Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. Zacks Research upgraded shares of Pilgrim’s Pride from a “strong sell” rating to a “hold” rating in a research report on Friday, November 7th. Finally, Weiss Ratings downgraded shares of Pilgrim’s Pride from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, November 7th. Five research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $47.00.

Pilgrim’s Pride Profile

Pilgrim’s Pride Corp. engages in the production, processing, marketing, and distribution of fresh, frozen and value-added chicken and pork products to retailers, distributors, and foodservice operators. It operates through the following segments: U.S., U.K. and Europe, and Mexico. The company was founded by Lonnie A.