Strs Ohio Sells 2,086 Shares of Pilgrim’s Pride Corporation $PPC

Strs Ohio lessened its position in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 4.3% in the second quarter, Holdings Channel.com reports. The firm owned 46,497 shares of the company’s stock after selling 2,086 shares during the period. Strs Ohio’s holdings in Pilgrim’s Pride were worth $2,091,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in PPC. Brooklyn Investment Group increased its holdings in Pilgrim’s Pride by 309.4% during the 1st quarter. Brooklyn Investment Group now owns 651 shares of the company’s stock worth $35,000 after purchasing an additional 492 shares in the last quarter. Quarry LP bought a new position in Pilgrim’s Pride during the 1st quarter worth about $43,000. Ameritas Advisory Services LLC acquired a new position in shares of Pilgrim’s Pride during the 2nd quarter worth about $45,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Pilgrim’s Pride by 117.5% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,231 shares of the company’s stock worth $55,000 after buying an additional 665 shares during the last quarter. Finally, Rosenberg Matthew Hamilton acquired a new position in shares of Pilgrim’s Pride during the 2nd quarter worth about $62,000. Institutional investors own 16.64% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on PPC. Wall Street Zen downgraded shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Research downgraded shares of Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 9th. The Goldman Sachs Group reduced their price objective on shares of Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. Finally, Weiss Ratings upgraded shares of Pilgrim’s Pride from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $47.00.

Pilgrim’s Pride Trading Down 1.8%

Shares of NASDAQ:PPC opened at $37.25 on Wednesday. Pilgrim’s Pride Corporation has a 52-week low of $35.73 and a 52-week high of $57.16. The company has a market capitalization of $8.85 billion, a P/E ratio of 7.22 and a beta of 0.45. The company has a 50-day simple moving average of $40.51 and a 200 day simple moving average of $45.13. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.88 and a current ratio of 1.63.

Pilgrim’s Pride (NASDAQ:PPC) last issued its earnings results on Wednesday, October 29th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.11. Pilgrim’s Pride had a net margin of 6.70% and a return on equity of 37.75%. The business had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same period last year, the business posted $1.63 EPS. Pilgrim’s Pride’s revenue was up 3.8% on a year-over-year basis. Sell-side analysts forecast that Pilgrim’s Pride Corporation will post 5.13 earnings per share for the current year.

Pilgrim’s Pride Company 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.