Bank of America Corp DE cut its position in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 38.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 92,892 shares of the company’s stock after selling 58,286 shares during the period. Bank of America Corp DE’s holdings in Pilgrim’s Pride Corporation were worth $2,090,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PPC. Credit Agricole S A increased its position in Pilgrim’s Pride Corporation by 12.8% in the first quarter. Credit Agricole S A now owns 356,800 shares of the company’s stock valued at $8,030,000 after buying an additional 40,400 shares during the period. Pictet Asset Management Ltd. bought a new position in Pilgrim’s Pride Corporation during the first quarter valued at approximately $3,216,000. OLD National Bancorp IN bought a new position in Pilgrim’s Pride Corporation during the first quarter valued at approximately $484,000. Dimensional Fund Advisors LP increased its position in Pilgrim’s Pride Corporation by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 721,529 shares of the company’s stock valued at $13,702,000 after buying an additional 5,381 shares during the period. Finally, Sei Investments Co. increased its position in Pilgrim’s Pride Corporation by 7.1% in the first quarter. Sei Investments Co. now owns 27,061 shares of the company’s stock valued at $609,000 after buying an additional 1,787 shares during the period. 26.30% of the stock is currently owned by hedge funds and other institutional investors.

Pilgrim’s Pride Corporation (NASDAQ PPC) traded up 1.09% during mid-day trading on Friday, hitting $26.94. The company had a trading volume of 672,936 shares. The company has a 50-day moving average price of $23.25 and a 200 day moving average price of $22.64. The firm has a market capitalization of $6.70 billion, a P/E ratio of 13.59 and a beta of 0.19. Pilgrim’s Pride Corporation has a 12 month low of $17.15 and a 12 month high of $26.96.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.11. Pilgrim’s Pride Corporation had a return on equity of 49.65% and a net margin of 6.05%. The company had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the previous year, the business earned $0.60 EPS. Pilgrim’s Pride Corporation’s quarterly revenue was up 11.0% on a year-over-year basis. Equities analysts forecast that Pilgrim’s Pride Corporation will post $2.45 EPS for the current fiscal year.

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Several research analysts have recently commented on PPC shares. BidaskClub raised Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. ValuEngine raised Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Vertical Group raised Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a research note on Monday, April 24th. Vertical Research raised Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a research note on Friday, April 21st. They noted that the move was a valuation call. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $24.00 price objective on shares of Pilgrim’s Pride Corporation in a research note on Tuesday, June 27th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. Pilgrim’s Pride Corporation has an average rating of “Buy” and a consensus target price of $24.50.

Pilgrim’s Pride Corporation Company Profile

Pilgrim’s Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.

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Institutional Ownership by Quarter for Pilgrim`s Pride Corporation (NASDAQ:PPC)

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