International Assets Investment Management LLC Has $3.44 Million Holdings in Pilgrim's Pride Co. (NASDAQ:PPC)

International Assets Investment Management LLC lifted its stake in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 4,505.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,693 shares of the company's stock after acquiring an additional 73,071 shares during the period. International Assets Investment Management LLC's holdings in Pilgrim's Pride were worth $3,440,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PPC. Arizona State Retirement System lifted its holdings in Pilgrim's Pride by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 13,259 shares of the company's stock worth $510,000 after buying an additional 244 shares during the last quarter. Bayesian Capital Management LP boosted its position in Pilgrim's Pride by 2.6% during the 1st quarter. Bayesian Capital Management LP now owns 11,382 shares of the company's stock valued at $391,000 after purchasing an additional 290 shares during the period. Bleakley Financial Group LLC grew its stake in Pilgrim's Pride by 2.2% during the 1st quarter. Bleakley Financial Group LLC now owns 13,714 shares of the company's stock worth $471,000 after buying an additional 301 shares during the last quarter. Norden Group LLC increased its position in Pilgrim's Pride by 3.6% in the second quarter. Norden Group LLC now owns 9,290 shares of the company's stock worth $358,000 after buying an additional 322 shares during the period. Finally, CWM LLC boosted its holdings in shares of Pilgrim's Pride by 19.1% during the third quarter. CWM LLC now owns 2,086 shares of the company's stock valued at $96,000 after acquiring an additional 334 shares during the period. 16.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on PPC shares. BMO Capital Markets lifted their price objective on shares of Pilgrim's Pride from $42.00 to $43.00 and gave the company a "market perform" rating in a research report on Friday. Barclays boosted their price target on Pilgrim's Pride from $45.00 to $49.00 and gave the stock an "equal weight" rating in a research report on Friday. Argus raised their price target on Pilgrim's Pride from $50.00 to $55.00 and gave the company a "buy" rating in a report on Wednesday, August 28th. Stephens initiated coverage on shares of Pilgrim's Pride in a report on Thursday, October 3rd. They issued an "equal weight" rating and a $43.00 price objective for the company. Finally, Bank of America cut shares of Pilgrim's Pride from a "buy" rating to a "neutral" rating and set a $47.00 target price on the stock. in a research note on Thursday, August 15th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $45.50.

Pilgrim's Pride Stock Performance

Shares of NASDAQ:PPC traded up $1.73 during trading on Friday, reaching $50.17. The stock had a trading volume of 1,827,521 shares, compared to its average volume of 1,056,739. The stock has a fifty day simple moving average of $44.98 and a two-hundred day simple moving average of $40.69. The company has a quick ratio of 1.09, a current ratio of 1.95 and a debt-to-equity ratio of 0.75. Pilgrim's Pride Co. has a 52 week low of $25.23 and a 52 week high of $51.21. The firm has a market capitalization of $11.90 billion, a price-to-earnings ratio of 12.12, a P/E/G ratio of 0.22 and a beta of 0.81.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.27 by $0.36. Pilgrim's Pride had a net margin of 5.46% and a return on equity of 29.92%. The firm had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.69 billion. During the same quarter last year, the firm posted $0.58 EPS. The business's quarterly revenue was up 5.2% on a year-over-year basis. As a group, analysts anticipate that Pilgrim's Pride Co. will post 5.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Matthew R. Galvanoni sold 6,500 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $43.31, for a total value of $281,515.00. Following the completion of the sale, the chief financial officer now directly owns 51,750 shares of the company's stock, valued at approximately $2,241,292.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Matthew R. Galvanoni sold 6,500 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $43.31, for a total value of $281,515.00. Following the completion of the sale, the chief financial officer now owns 51,750 shares in the company, valued at approximately $2,241,292.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Fabio Sandri sold 65,000 shares of Pilgrim's Pride stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $44.50, for a total value of $2,892,500.00. Following the sale, the chief executive officer now directly owns 279,565 shares in the company, valued at approximately $12,440,642.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 82.63% of the stock is owned by insiders.

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.