Key Points
- CFO Matthew Galvanoni sold 6,963 shares on Feb. 18 at an average price of $43.52, raising about $303,030 and reducing his stake by 7.08% to 91,397 shares (worth ~ $3.98M).
- Pilgrim's Pride missed quarterly EPS expectations ($0.64 vs. $0.78) while beating revenue estimates ($4.52B); the stock trades near $40.98 with a 52‑week range of $35.73–$56.88 and a P/E of 9.03.
- Market sentiment is mixed: the consensus rating is a Hold with an average price target of $44.33, and institutional investors own about 16.64% of the company.
Pilgrim's Pride Corporation (NASDAQ:PPC - Get Free Report) CFO Matthew Galvanoni sold 6,963 shares of the firm's stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $43.52, for a total transaction of $303,029.76. Following the completion of the transaction, the chief financial officer directly owned 91,397 shares in the company, valued at approximately $3,977,597.44. This represents a 7.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Pilgrim's Pride Price Performance
Shares of NASDAQ:PPC traded down $0.47 during midday trading on Thursday, hitting $40.98. The stock had a trading volume of 84,413 shares, compared to its average volume of 893,189. The company's 50-day moving average price is $41.57 and its 200-day moving average price is $40.65. Pilgrim's Pride Corporation has a fifty-two week low of $35.73 and a fifty-two week high of $56.88. The company has a quick ratio of 0.76, a current ratio of 1.47 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $9.73 billion, a P/E ratio of 9.03 and a beta of 0.41.
Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($0.14). Pilgrim's Pride had a net margin of 5.85% and a return on equity of 35.15%. The firm had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same period last year, the business earned $1.35 earnings per share. The business's revenue was up 3.3% compared to the same quarter last year. As a group, equities research analysts predict that Pilgrim's Pride Corporation will post 5.13 EPS for the current fiscal year.
Hedge Funds Weigh In On Pilgrim's Pride
A number of institutional investors and hedge funds have recently bought and sold shares of PPC. Retirement Systems of Alabama boosted its stake in shares of Pilgrim's Pride by 0.4% during the second quarter. Retirement Systems of Alabama now owns 49,270 shares of the company's stock valued at $2,216,000 after purchasing an additional 207 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of Pilgrim's Pride by 1.3% in the second quarter. New York State Common Retirement Fund now owns 17,817 shares of the company's stock valued at $801,000 after buying an additional 230 shares during the period. Commerce Bank raised its holdings in Pilgrim's Pride by 4.4% in the 4th quarter. Commerce Bank now owns 5,792 shares of the company's stock valued at $226,000 after buying an additional 246 shares during the last quarter. Signaturefd LLC boosted its position in Pilgrim's Pride by 23.5% during the 4th quarter. Signaturefd LLC now owns 1,350 shares of the company's stock worth $53,000 after buying an additional 257 shares during the period. Finally, Kendall Capital Management boosted its position in Pilgrim's Pride by 4.3% during the 3rd quarter. Kendall Capital Management now owns 6,385 shares of the company's stock worth $260,000 after buying an additional 265 shares during the period. Institutional investors and hedge funds own 16.64% of the company's stock.
Analysts Set New Price Targets
A number of research firms have recently commented on PPC. Santander raised Pilgrim's Pride from a "neutral" rating to an "outperform" rating in a report on Thursday, December 11th. Barclays decreased their target price on Pilgrim's Pride from $49.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Tuesday, December 9th. Wall Street Zen downgraded Pilgrim's Pride from a "buy" rating to a "hold" rating in a research note on Sunday, February 15th. BMO Capital Markets raised their price target on shares of Pilgrim's Pride from $40.00 to $42.00 and gave the company a "market perform" rating in a research note on Friday, February 13th. Finally, Zacks Research lowered shares of Pilgrim's Pride from a "hold" rating to a "strong sell" rating in a report on Wednesday, February 11th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Pilgrim's Pride has an average rating of "Hold" and an average price target of $44.33.
Check Out Our Latest Report on Pilgrim's Pride
Pilgrim's Pride Company Profile
(
Get Free Report)
Pilgrim's Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim's Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.
The company's vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.
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