Principal Financial Group Inc. Sells 40,918 Shares of Pilgrim's Pride Co. (NASDAQ:PPC)

Principal Financial Group Inc. decreased its position in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 30.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 93,678 shares of the company's stock after selling 40,918 shares during the period. Principal Financial Group Inc.'s holdings in Pilgrim's Pride were worth $4,314,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PPC. SG Americas Securities LLC bought a new stake in Pilgrim's Pride during the 2nd quarter worth about $1,583,000. Quadrature Capital Ltd bought a new position in Pilgrim's Pride in the first quarter valued at approximately $904,000. ORG Wealth Partners LLC bought a new stake in shares of Pilgrim's Pride during the 3rd quarter valued at $29,000. Highland Capital Management LLC lifted its stake in shares of Pilgrim's Pride by 459.8% in the 3rd quarter. Highland Capital Management LLC now owns 33,244 shares of the company's stock valued at $1,531,000 after purchasing an additional 27,305 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in shares of Pilgrim's Pride by 97,511.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 33,188 shares of the company's stock worth $1,528,000 after purchasing an additional 33,154 shares during the last quarter. Institutional investors own 16.64% of the company's stock.

Pilgrim's Pride Stock Down 1.0 %

NASDAQ:PPC traded down $0.54 during trading hours on Friday, reaching $51.71. The company had a trading volume of 620,458 shares, compared to its average volume of 900,526. Pilgrim's Pride Co. has a twelve month low of $25.23 and a twelve month high of $55.50. The company has a quick ratio of 1.27, a current ratio of 1.95 and a debt-to-equity ratio of 0.75. The firm has a market cap of $12.26 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 0.22 and a beta of 0.81. The business's 50-day simple moving average is $47.28 and its two-hundred day simple moving average is $42.37.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.63 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 firm had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.69 billion. During the same quarter in the previous year, the company posted $0.58 earnings per share. The company's quarterly revenue was up 5.2% on a year-over-year basis. On average, equities analysts expect that Pilgrim's Pride Co. will post 4.91 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on PPC shares. 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, November 1st. BMO Capital Markets lifted their target price on shares of Pilgrim's Pride from $42.00 to $43.00 and gave the stock a "market perform" rating in a report on Friday, November 1st. Stephens began coverage on Pilgrim's Pride in a report on Thursday, October 3rd. They set an "equal weight" rating and a $43.00 price objective for the company. Bank of America downgraded Pilgrim's Pride from a "buy" rating to a "neutral" rating and set a $47.00 target price on the stock. in a research report on Thursday, August 15th. Finally, Argus boosted their price target on Pilgrim's Pride from $50.00 to $55.00 and gave the company 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 issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $45.50.

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.