Horrell Capital Management Inc. Sells 2,980 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Horrell Capital Management Inc. lessened its stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 10.1% during the third quarter, Holdings Channel.com reports. The firm owned 26,581 shares of the company’s stock after selling 2,980 shares during the period. Horrell Capital Management Inc.’s holdings in Pilgrim’s Pride were worth $1,224,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PPC. Norden Group LLC bought a new position in shares of Pilgrim’s Pride during the 1st quarter worth about $2,462,000. Principal Financial Group Inc. lifted its position in Pilgrim’s Pride by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 151,658 shares of the company’s stock valued at $5,205,000 after acquiring an additional 3,584 shares in the last quarter. Capstone Investment Advisors LLC lifted its position in Pilgrim’s Pride by 14.1% in the 1st quarter. Capstone Investment Advisors LLC now owns 30,882 shares of the company’s stock valued at $1,060,000 after acquiring an additional 3,811 shares in the last quarter. GSA Capital Partners LLP lifted its position in Pilgrim’s Pride by 44.2% in the 1st quarter. GSA Capital Partners LLP now owns 14,117 shares of the company’s stock valued at $484,000 after acquiring an additional 4,329 shares in the last quarter. Finally, Texas Permanent School Fund Corp lifted its position in Pilgrim’s Pride by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 35,230 shares of the company’s stock valued at $1,209,000 after acquiring an additional 456 shares in the last quarter. Institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Performance

Shares of PPC stock traded up $0.31 during trading hours on Tuesday, hitting $47.76. 252,052 shares of the company were exchanged, compared to its average volume of 888,383. The firm has a fifty day simple moving average of $44.61 and a 200 day simple moving average of $40.36. The company has a current ratio of 1.82, a quick ratio of 1.09 and a debt-to-equity ratio of 0.85. Pilgrim’s Pride Co. has a 52-week low of $24.75 and a 52-week high of $49.07. The stock has a market capitalization of $11.32 billion, a price-to-earnings ratio of 23.22, a P/E/G ratio of 0.23 and a beta of 0.82.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.35. Pilgrim’s Pride had a net margin of 4.25% and a return on equity of 25.06%. The company had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.62 billion. During the same quarter last year, the business posted $0.44 EPS. Pilgrim’s Pride’s quarterly revenue was up 5.8% compared to the same quarter last year. Research analysts predict that Pilgrim’s Pride Co. will post 4.79 earnings per share for the current fiscal year.

Insider Transactions at Pilgrim’s Pride

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

Analysts Set New Price Targets

PPC has been the topic of several recent research reports. BMO Capital Markets reaffirmed a “market perform” rating and issued a $46.00 price target on shares of Pilgrim’s Pride in a research report on Monday, August 12th. Argus raised their price target on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Stephens initiated coverage on shares of Pilgrim’s Pride in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price objective for the company. Bank of America lowered shares of Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price objective for the company. in a research note on Thursday, August 15th. Finally, Barclays increased their price objective on shares of Pilgrim’s Pride from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, September 9th. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pilgrim’s Pride currently has a consensus rating of “Hold” and an average target price of $45.33.

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.