Pilgrim’s Pride Co. (PPC) Position Reduced by Zebra Capital Management LLC

Zebra Capital Management LLC trimmed its holdings in Pilgrim’s Pride Co. (NASDAQ:PPC) by 21.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,362 shares of the company’s stock after selling 10,311 shares during the quarter. Zebra Capital Management LLC’s holdings in Pilgrim’s Pride were worth $772,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PPC. Clarus Wealth Advisors acquired a new position in shares of Pilgrim’s Pride in the 2nd quarter valued at approximately $161,000. Cerebellum GP LLC acquired a new position in shares of Pilgrim’s Pride in the 2nd quarter valued at approximately $168,000. Tiverton Asset Management LLC acquired a new position in shares of Pilgrim’s Pride in the 1st quarter valued at approximately $173,000. Advisors Preferred LLC grew its position in shares of Pilgrim’s Pride by 112.1% in the 2nd quarter. Advisors Preferred LLC now owns 8,571 shares of the company’s stock valued at $173,000 after purchasing an additional 4,530 shares during the period. Finally, SG Americas Securities LLC lifted its stake in Pilgrim’s Pride by 129.2% in the 2nd quarter. SG Americas Securities LLC now owns 8,673 shares of the company’s stock valued at $175,000 after acquiring an additional 38,405 shares in the last quarter. 20.30% of the stock is owned by institutional investors and hedge funds.

In other Pilgrim’s Pride news, Director Michael L. Cooper bought 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 9th. The stock was acquired at an average price of $17.36 per share, with a total value of $43,400.00. Following the completion of the purchase, the director now directly owns 7,771 shares of the company’s stock, valued at approximately $134,904.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 78.81% of the stock is currently owned by company insiders.

PPC has been the topic of a number of analyst reports. Mizuho set a $27.00 price objective on Pilgrim’s Pride and gave the stock a “buy” rating in a research note on Wednesday, July 25th. BidaskClub raised Pilgrim’s Pride from a “sell” rating to a “hold” rating in a report on Friday, September 7th. BMO Capital Markets decreased their price objective on Pilgrim’s Pride to $20.00 and set a “market perform” rating on the stock in a report on Friday, August 3rd. Barclays initiated coverage on Pilgrim’s Pride in a report on Monday, July 16th. They issued an “overweight” rating and a $27.00 price objective on the stock. Finally, Zacks Investment Research lowered Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a report on Monday, July 16th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $25.67.

PPC opened at $17.99 on Tuesday. The firm has a market cap of $4.50 billion, a PE ratio of 6.22 and a beta of -0.02. Pilgrim’s Pride Co. has a 52-week low of $16.30 and a 52-week high of $38.39. The company has a current ratio of 1.87, a quick ratio of 1.01 and a debt-to-equity ratio of 1.26.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings data on Wednesday, August 1st. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.43). Pilgrim’s Pride had a return on equity of 34.12% and a net margin of 5.33%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the prior year, the company earned $0.92 earnings per share. Pilgrim’s Pride’s quarterly revenue was up 3.1% compared to the same quarter last year. Equities analysts forecast that Pilgrim’s Pride Co. will post 1.96 earnings per share for the current year.

About Pilgrim’s Pride

Pilgrim's Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products in the United States, the United Kingdom, Europe, and Mexico. The company offers fresh chicken products, including pre-marinated or non-marinated refrigerated (nonfrozen) whole or cut-up chicken; and prepackaged case-ready chicken, such as whole chickens and chicken parts.

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

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