Pilgrim's Pride Co. (NASDAQ:PPC) Shares Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lifted its position in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 97,511.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,188 shares of the company's stock after buying an additional 33,154 shares during the quarter. Nisa Investment Advisors LLC's holdings in Pilgrim's Pride were worth $1,528,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. ORG Wealth Partners LLC bought a new stake in Pilgrim's Pride during the third quarter valued at about $29,000. ORG Partners LLC bought a new stake in Pilgrim's Pride during the second quarter valued at about $32,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Pilgrim's Pride during the second quarter valued at about $32,000. Raleigh Capital Management Inc. bought a new stake in Pilgrim's Pride during the third quarter valued at about $34,000. Finally, Headlands Technologies LLC bought a new stake in Pilgrim's Pride during the first quarter valued at about $38,000. Institutional investors own 16.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PPC shares. Bank of America downgraded Pilgrim's Pride from a "buy" rating to a "neutral" rating and set a $47.00 price target for the company. in a report on Thursday, August 15th. BMO Capital Markets raised their price target on Pilgrim's Pride from $42.00 to $43.00 and gave the stock a "market perform" rating in a report on Friday. Stephens started coverage on Pilgrim's Pride in a report on Thursday, October 3rd. They issued an "equal weight" rating and a $43.00 price target for the company. Barclays raised their price target on Pilgrim's Pride from $45.00 to $49.00 and gave the stock an "equal weight" rating in a report on Friday. Finally, Argus raised their price objective on Pilgrim's Pride from $50.00 to $55.00 and gave the stock a "buy" rating in a research note on Wednesday, August 28th. 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's stock. According to MarketBeat.com, Pilgrim's Pride currently has an average rating of "Hold" and a consensus price target of $45.50.

Pilgrim's Pride Price Performance

PPC traded up $1.08 during trading on Monday, hitting $51.25. The company's stock had a trading volume of 1,255,550 shares, compared to its average volume of 904,577. The company has a current ratio of 1.95, a quick ratio of 1.09 and a debt-to-equity ratio of 0.75. The business's fifty day simple moving average is $44.98 and its 200 day simple moving average is $40.73. The firm has a market capitalization of $12.15 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 0.22 and a beta of 0.81. Pilgrim's Pride Co. has a twelve month low of $25.23 and a twelve month high of $51.30.

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

Insider Activity

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

Pilgrim's Pride Company Profile

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.