SG Americas Securities LLC Grows Holdings in Pilgrim’s Pride Corporation $PPC

SG Americas Securities LLC boosted its position in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 19.2% in the second quarter, HoldingsChannel reports. The firm owned 23,763 shares of the company’s stock after buying an additional 3,823 shares during the quarter. SG Americas Securities LLC’s holdings in Pilgrim’s Pride were worth $1,069,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Retirement Systems of Alabama raised its stake in shares of Pilgrim’s Pride by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 49,270 shares of the company’s stock worth $2,216,000 after purchasing an additional 207 shares during the period. Parallel Advisors LLC grew its position in Pilgrim’s Pride by 15.7% during the second quarter. Parallel Advisors LLC now owns 1,655 shares of the company’s stock valued at $74,000 after buying an additional 224 shares during the period. Cullen Frost Bankers Inc. increased its holdings in Pilgrim’s Pride by 18.2% during the second quarter. Cullen Frost Bankers Inc. now owns 1,566 shares of the company’s stock worth $70,000 after buying an additional 241 shares during the last quarter. Comerica Bank raised its position in Pilgrim’s Pride by 2.9% in the first quarter. Comerica Bank now owns 12,359 shares of the company’s stock worth $674,000 after acquiring an additional 345 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in Pilgrim’s Pride by 46.7% in the first quarter. PNC Financial Services Group Inc. now owns 1,386 shares of the company’s stock valued at $76,000 after acquiring an additional 441 shares during the last quarter. Institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Up 3.2%

PPC opened at $38.80 on Friday. Pilgrim’s Pride Corporation has a 12 month low of $35.73 and a 12 month high of $57.16. The company has a market cap of $9.22 billion, a PE ratio of 7.52 and a beta of 0.48. The company has a current ratio of 1.63, a quick ratio of 0.88 and a debt-to-equity ratio of 0.83. The company has a 50 day moving average of $38.80 and a 200 day moving average of $43.90.

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

Analyst Upgrades and Downgrades

PPC has been the subject of several research analyst reports. Wall Street Zen lowered shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Zacks Research raised Pilgrim’s Pride from a “strong sell” rating to a “hold” rating in a report on Friday, November 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Pilgrim’s Pride in a research report on Wednesday. Finally, The Goldman Sachs Group dropped their price target on Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $47.00.

Pilgrim’s Pride 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.