Pilgrim’s Pride Corporation $PPC Shares Sold by Signet Financial Management LLC

Signet Financial Management LLC decreased its position in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 42.5% in the 4th quarter, Holdings Channel reports. The fund owned 29,162 shares of the company’s stock after selling 21,555 shares during the period. Signet Financial Management LLC’s holdings in Pilgrim’s Pride were worth $1,137,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC lifted its position in shares of Pilgrim’s Pride by 59.3% during the second quarter. AQR Capital Management LLC now owns 3,776,178 shares of the company’s stock worth $169,852,000 after purchasing an additional 1,405,251 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in Pilgrim’s Pride during the 3rd quarter worth $26,501,000. Qube Research & Technologies Ltd lifted its holdings in Pilgrim’s Pride by 138.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 958,312 shares of the company’s stock worth $39,022,000 after buying an additional 556,766 shares in the last quarter. Two Sigma Investments LP lifted its holdings in Pilgrim’s Pride by 654.6% in the 3rd quarter. Two Sigma Investments LP now owns 631,325 shares of the company’s stock worth $25,708,000 after buying an additional 547,663 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Pilgrim’s Pride by 10.0% in the 3rd quarter. Vanguard Group Inc. now owns 5,672,728 shares of the company’s stock valued at $230,993,000 after buying an additional 516,598 shares during the last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Trading Down 1.2%

NASDAQ PPC opened at $35.23 on Monday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.76 and a current ratio of 1.47. The company has a 50-day simple moving average of $41.22 and a 200-day simple moving average of $39.95. The firm has a market capitalization of $8.37 billion, a PE ratio of 7.76 and a beta of 0.41. Pilgrim’s Pride Corporation has a one year low of $34.96 and a one year high of $56.73.

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

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wall Street Zen downgraded Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research note on Sunday, February 15th. Barclays lowered their price objective on Pilgrim’s Pride from $49.00 to $45.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 9th. Santander upgraded Pilgrim’s Pride from a “neutral” rating to an “outperform” rating in a report on Thursday, December 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Pilgrim’s Pride in a research report on Monday, December 29th. Finally, BMO Capital Markets lifted their price target on shares of Pilgrim’s Pride from $40.00 to $42.00 and gave the stock a “market perform” rating in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Pilgrim’s Pride currently has an average rating of “Hold” and an average target price of $44.33.

Insider Activity at Pilgrim’s Pride

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 stock was sold at an average price of $43.52, for a total transaction of $303,029.76. Following the sale, the chief financial officer owned 91,397 shares of the company’s stock, valued at $3,977,597.44. The trade was a 7.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 82.56% of the stock is owned by corporate 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.