16,536 Shares in Pilgrim’s Pride Co. (NASDAQ:PPC) Purchased by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp acquired a new position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,536 shares of the company’s stock, valued at approximately $457,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Simplicity Solutions LLC raised its stake in Pilgrim’s Pride by 6.9% during the third quarter. Simplicity Solutions LLC now owns 13,587 shares of the company’s stock worth $310,000 after acquiring an additional 878 shares in the last quarter. Swiss National Bank raised its stake in Pilgrim’s Pride by 1.1% during the third quarter. Swiss National Bank now owns 104,000 shares of the company’s stock worth $2,374,000 after acquiring an additional 1,100 shares in the last quarter. GAMMA Investing LLC acquired a new position in Pilgrim’s Pride during the fourth quarter worth about $30,000. Financial Management Professionals Inc. acquired a new position in Pilgrim’s Pride during the fourth quarter worth about $32,000. Finally, Clear Street Markets LLC acquired a new position in Pilgrim’s Pride during the third quarter worth about $50,000. Institutional investors own 16.64% of the company’s stock.

Insiders Place Their Bets

In other Pilgrim’s Pride news, CEO Fabio Sandri sold 40,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $33.32, for a total transaction of $1,332,800.00. Following the transaction, the chief executive officer now directly owns 257,065 shares in the company, valued at approximately $8,565,405.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 82.63% of the company’s stock.

Pilgrim’s Pride Stock Performance

Shares of PPC stock opened at $35.76 on Friday. The business’s 50 day simple moving average is $33.46 and its 200 day simple moving average is $28.90. Pilgrim’s Pride Co. has a one year low of $19.96 and a one year high of $36.47. The stock has a market capitalization of $8.47 billion, a PE ratio of 26.49, a PEG ratio of 0.40 and a beta of 0.82. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.68 and a quick ratio of 0.89.

Pilgrim’s Pride (NASDAQ:PPC) last announced its earnings results on Monday, February 26th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.43 by $0.16. The business had revenue of $4.50 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Pilgrim’s Pride had a return on equity of 12.90% and a net margin of 1.85%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.49) earnings per share. As a group, research analysts forecast that Pilgrim’s Pride Co. will post 3.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Bank of America upped their price objective on Pilgrim’s Pride from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, April 15th. The Goldman Sachs Group upped their price objective on Pilgrim’s Pride from $32.00 to $36.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. TheStreet raised Pilgrim’s Pride from a “c+” rating to a “b+” rating in a research note on Monday, February 26th. Barclays reaffirmed an “equal weight” rating and issued a $38.00 price objective (up previously from $35.00) on shares of Pilgrim’s Pride in a research note on Tuesday, April 16th. Finally, StockNews.com raised Pilgrim’s Pride from a “hold” rating to a “buy” rating in a research note on Tuesday, February 27th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.25.

Pilgrim’s Pride 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.