Fideuram Intesa Sanpaolo Private Banking S.P.A. Invests $1.44 Million in Pilgrim’s Pride Corporation $PPC

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Pilgrim’s Pride Corporation (NASDAQ:PPC) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 38,105 shares of the company’s stock, valued at approximately $1,439,000.

Other institutional investors have also made changes to their positions in the company. Torren Management LLC bought a new stake in Pilgrim’s Pride during the 4th quarter worth about $31,000. MCF Advisors LLC bought a new position in shares of Pilgrim’s Pride in the fourth quarter worth about $35,000. Kingdom Financial Group LLC. bought a new position in shares of Pilgrim’s Pride in the fourth quarter worth about $37,000. Quarry LP lifted its position in shares of Pilgrim’s Pride by 30.5% during the fourth quarter. Quarry LP now owns 1,248 shares of the company’s stock worth $49,000 after purchasing an additional 292 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of Pilgrim’s Pride by 23.5% during the fourth quarter. Signaturefd LLC now owns 1,350 shares of the company’s stock worth $53,000 after purchasing an additional 257 shares in the last quarter. 16.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. BMO Capital Markets lowered their price target on shares of Pilgrim’s Pride from $42.00 to $40.00 and set a “market perform” rating for the company in a report on Wednesday, March 25th. The Goldman Sachs Group dropped their target price on Pilgrim’s Pride from $44.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, April 9th. Bank of America cut their price target on Pilgrim’s Pride from $37.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday. Barclays upgraded Pilgrim’s Pride from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $45.00 to $42.00 in a research report on Friday, May 1st. Finally, Stephens set a $40.00 price objective on Pilgrim’s Pride in a report on Wednesday, April 15th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Pilgrim’s Pride has a consensus rating of “Hold” and a consensus target price of $36.83.

Pilgrim’s Pride Stock Performance

Shares of NASDAQ PPC opened at $28.76 on Friday. The company’s fifty day moving average is $29.17 and its 200-day moving average is $35.82. The stock has a market cap of $6.84 billion, a price-to-earnings ratio of 7.71 and a beta of 0.29. Pilgrim’s Pride Corporation has a twelve month low of $26.50 and a twelve month high of $50.56. The company has a quick ratio of 0.73, a current ratio of 1.48 and a debt-to-equity ratio of 0.83.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.18). The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.43 billion. Pilgrim’s Pride had a net margin of 4.78% and a return on equity of 28.57%. Pilgrim’s Pride’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.31 EPS. Equities research analysts predict that Pilgrim’s Pride Corporation will post 3.52 EPS for the current year.

Pilgrim’s Pride Company 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.