Mutual of America Capital Management LLC Grows Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

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Mutual of America Capital Management LLC lifted its holdings in shares of Pilgrim’s Pride Co. (NASDAQ:PPCGet Rating) by 2.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,481 shares of the company’s stock after purchasing an additional 861 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Pilgrim’s Pride were worth $1,116,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Bank of America Corp DE boosted its holdings in Pilgrim’s Pride by 14.5% during the 4th quarter. Bank of America Corp DE now owns 814,701 shares of the company’s stock valued at $22,975,000 after acquiring an additional 102,872 shares during the period. Cibc World Markets Corp purchased a new position in Pilgrim’s Pride during the 4th quarter valued at about $1,410,000. Teacher Retirement System of Texas boosted its holdings in Pilgrim’s Pride by 21.4% during the 4th quarter. Teacher Retirement System of Texas now owns 9,525 shares of the company’s stock valued at $269,000 after acquiring an additional 1,679 shares during the period. Gotham Asset Management LLC purchased a new position in Pilgrim’s Pride during the 4th quarter valued at about $221,000. Finally, Qube Research & Technologies Ltd boosted its holdings in Pilgrim’s Pride by 280.9% during the 4th quarter. Qube Research & Technologies Ltd now owns 203,034 shares of the company’s stock valued at $5,726,000 after acquiring an additional 149,734 shares during the period. 17.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PPC has been the subject of a number of research analyst reports. TheStreet upgraded Pilgrim’s Pride from a “c” rating to a “b-” rating in a report on Wednesday, April 27th. StockNews.com upgraded Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 3rd. Barclays lifted their price objective on Pilgrim’s Pride from $32.00 to $36.00 and gave the company a “maintains” rating in a research note on Friday. Finally, BMO Capital Markets lifted their price objective on Pilgrim’s Pride from $30.00 to $36.00 in a research note on Friday. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Pilgrim’s Pride currently has an average rating of “Buy” and an average price target of $35.67.

Insider Transactions at Pilgrim’s Pride

In other Pilgrim’s Pride news, CEO Fabio Sandri sold 171,000 shares of Pilgrim’s Pride stock in a transaction that occurred on Thursday, May 5th. The stock was sold at an average price of $28.39, for a total transaction of $4,854,690.00. Following the transaction, the chief executive officer now owns 371,557 shares of the company’s stock, valued at $10,548,503.23. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 80.36% of the company’s stock.

Pilgrim’s Pride Price Performance

Shares of NASDAQ PPC opened at $31.37 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.84 and a current ratio of 1.53. Pilgrim’s Pride Co. has a fifty-two week low of $20.23 and a fifty-two week high of $34.66. The firm has a market capitalization of $7.54 billion, a PE ratio of 36.06, a price-to-earnings-growth ratio of 0.72 and a beta of 0.93. The stock’s 50-day simple moving average is $31.31 and its 200-day simple moving average is $28.15.

Pilgrim’s Pride (NASDAQ:PPCGet Rating) last issued its earnings results on Wednesday, July 27th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.42. Pilgrim’s Pride had a return on equity of 28.00% and a net margin of 1.34%. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same quarter last year, the company earned $0.63 EPS. The business’s quarterly revenue was up 27.3% on a year-over-year basis. As a group, equities research analysts forecast that Pilgrim’s Pride Co. will post 3.61 EPS for the current fiscal year.

Pilgrim’s Pride Profile

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Pilgrim’s Pride Corporation engages in the production, processing, marketing and distribution of fresh, frozen and value-added chicken, and pork products to retailers, distributors, and foodservice operators in the United States, the United Kingdom, Mexico, the Middle East, Asia, Continental Europe, and internationally.

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