Principal Financial Group Inc. Boosts Stock Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

Principal Financial Group Inc. boosted its stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 2.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 151,658 shares of the company’s stock after acquiring an additional 3,584 shares during the quarter. Principal Financial Group Inc. owned 0.06% of Pilgrim’s Pride worth $5,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Louisiana State Employees Retirement System boosted its holdings in Pilgrim’s Pride by 2.7% during the 1st quarter. Louisiana State Employees Retirement System now owns 11,600 shares of the company’s stock valued at $398,000 after acquiring an additional 300 shares during the period. SummerHaven Investment Management LLC boosted its holdings in Pilgrim’s Pride by 1.4% during the 4th quarter. SummerHaven Investment Management LLC now owns 30,697 shares of the company’s stock valued at $849,000 after acquiring an additional 420 shares during the period. Jones Financial Companies Lllp bought a new position in Pilgrim’s Pride during the 4th quarter valued at approximately $28,000. GAMMA Investing LLC bought a new position in Pilgrim’s Pride during the 4th quarter valued at approximately $30,000. Finally, Financial Management Professionals Inc. bought a new position in Pilgrim’s Pride during the 4th quarter valued at approximately $32,000. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

Pilgrim’s Pride Stock Down 1.9 %

Shares of NASDAQ:PPC traded down $0.75 during trading on Friday, hitting $37.92. The stock had a trading volume of 69,121 shares, compared to its average volume of 661,504. Pilgrim’s Pride Co. has a 12 month low of $21.41 and a 12 month high of $39.00. The company has a market capitalization of $8.98 billion, a PE ratio of 18.77, a PEG ratio of 0.25 and a beta of 0.78. The firm’s fifty day moving average is $36.50 and its 200 day moving average is $32.74. The company has a quick ratio of 1.01, a current ratio of 1.83 and a debt-to-equity ratio of 0.96.

Pilgrim’s Pride (NASDAQ:PPC) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.17. Pilgrim’s Pride had a return on equity of 17.35% and a net margin of 2.80%. The company had revenue of $4.36 billion during the quarter, compared to analyst estimates of $4.45 billion. During the same quarter last year, the company earned $0.08 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts anticipate that Pilgrim’s Pride Co. will post 4.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on PPC. StockNews.com raised Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 3rd. Barclays reaffirmed an “equal weight” rating and set a $38.00 price target (up previously from $35.00) on shares of Pilgrim’s Pride in a research report on Tuesday, April 16th. The Goldman Sachs Group upped their price target on Pilgrim’s Pride from $32.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. Argus began coverage on Pilgrim’s Pride in a research report on Tuesday, June 18th. They set a “buy” rating and a $41.00 price target for the company. Finally, Bank of America upped their price target on Pilgrim’s Pride from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Pilgrim’s Pride currently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

About Pilgrim’s Pride

Pilgrim's Pride Corporation produces, processes, markets, and distributes fresh, frozen, and value-added chicken and pork products to retailers, distributors, and foodservice operators. The company offers fresh products, including refrigerated whole or cut-up chicken, selected chicken parts that are either marinated or non-marinated, primary pork cuts, added value pork, and pork ribs; and prepared products, which include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, processed sausages, bacon, smoked meat, gammon joints, pre-packed meats, sandwich and deli counter meats and meat balls.