Pilgrim’s Pride Corporation (PPC) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership trimmed its stake in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 54.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 898,067 shares of the company’s stock after selling 1,066,934 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.36% of Pilgrim’s Pride Corporation worth $19,686,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in PPC. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Pilgrim’s Pride Corporation by 6.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,668 shares of the company’s stock worth $105,000 after purchasing an additional 267 shares during the period. Seven Eight Capital LP acquired a new stake in shares of Pilgrim’s Pride Corporation during the second quarter worth $134,000. Amalgamated Bank acquired a new stake in shares of Pilgrim’s Pride Corporation during the second quarter worth $219,000. Regentatlantic Capital LLC acquired a new stake in shares of Pilgrim’s Pride Corporation during the second quarter worth $220,000. Finally, TrimTabs Asset Management LLC lifted its holdings in shares of Pilgrim’s Pride Corporation by 105.0% during the second quarter. TrimTabs Asset Management LLC now owns 10,281 shares of the company’s stock worth $225,000 after buying an additional 5,265 shares in the last quarter. 24.33% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have recently weighed in on PPC shares. ValuEngine raised Pilgrim’s Pride Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. BidaskClub downgraded Pilgrim’s Pride Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Jefferies Group LLC set a $25.00 target price on Pilgrim’s Pride Corporation and gave the stock a “hold” rating in a report on Tuesday, August 15th. Zacks Investment Research raised Pilgrim’s Pride Corporation from a “hold” rating to a “strong-buy” rating and set a $28.00 target price for the company in a report on Wednesday, August 2nd. Finally, Vertical Group downgraded Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, September 5th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and three have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $25.00.

Pilgrim’s Pride Corporation (NASDAQ:PPC) traded down 0.10% on Wednesday, reaching $28.87. The company had a trading volume of 45,368 shares. The stock has a market capitalization of $7.18 billion, a P/E ratio of 14.57 and a beta of 0.14. The stock’s 50-day moving average price is $28.92 and its 200-day moving average price is $25.16. Pilgrim’s Pride Corporation has a 12-month low of $17.15 and a 12-month high of $30.00.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last issued its earnings results on Wednesday, August 2nd. The company reported $0.94 EPS for the quarter, topping the 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 business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter last year, the company earned $0.60 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts anticipate that Pilgrim’s Pride Corporation will post $2.61 EPS for the current fiscal year.

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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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