Pilgrim's Pride Corporation $PPC Holdings Decreased by Cwm LLC

Key Points

• Cwm LLC cut its stake in Pilgrim's Pride by 34.8% in Q4, selling 32,387 shares and ending the period with 60,771 shares valued at $2.37 million; institutional ownership is reported at 16.64%.
• CFO Matthew R. Galvanoni sold 6,963 shares at about $43.52 on Feb. 18, reducing his position by 7.08% to 91,397 shares, and company insiders are reported to own 82.23% of the stock.
• Pilgrim's Pride posted Q4 EPS of $0.64 (missing the $0.78 estimate) while revenue beat at $4.52 billion; analysts' consensus is a Hold with a $41 average price target and the stock trades at roughly a 7.4 P/E (market cap ≈ $8B).

Cwm LLC reduced its stake in shares of Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) by 34.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,771 shares of the company's stock after selling 32,387 shares during the quarter. Cwm LLC's holdings in Pilgrim's Pride were worth $2,369,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. New York State Common Retirement Fund boosted its holdings 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 acquiring an additional 230 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Pilgrim's Pride by 23.5% in the fourth quarter. Signaturefd LLC now owns 1,350 shares of the company's stock valued at $53,000 after acquiring an additional 257 shares in the last quarter. Kendall Capital Management boosted its holdings in shares of Pilgrim's Pride by 4.3% in the third quarter. Kendall Capital Management now owns 6,385 shares of the company's stock valued at $260,000 after acquiring an additional 265 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Pilgrim's Pride by 3.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 9,824 shares of the company's stock worth $400,000 after buying an additional 333 shares in the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of Pilgrim's Pride by 0.9% in the 2nd quarter. California State Teachers Retirement System now owns 43,476 shares of the company's stock worth $1,956,000 after buying an additional 380 shares in the last quarter. 16.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Pilgrim's Pride

In related news, CFO Matthew R. Galvanoni sold 6,963 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $43.52, for a total value of $303,029.76. Following the completion of the transaction, the chief financial officer owned 91,397 shares in the company, valued at $3,977,597.44. This trade represents a 7.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 82.23% of the stock is owned by company insiders.

Pilgrim's Pride Price Performance

NASDAQ PPC opened at $33.63 on Friday. The stock has a market capitalization of $8.00 billion, a P/E ratio of 7.41 and a beta of 0.46. Pilgrim's Pride Corporation has a 1 year low of $32.23 and a 1 year high of $54.74. The business's fifty day moving average is $37.69 and its two-hundred day moving average is $38.84. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.76 and a current ratio of 1.47.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same period in the prior year, the company posted $1.35 EPS. Pilgrim's Pride's quarterly revenue was up 3.3% on a year-over-year basis. On average, research analysts forecast that Pilgrim's Pride Corporation will post 4.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PPC has been the topic of a number of research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Pilgrim's Pride in a research note on Monday, December 29th. Stephens set a $40.00 price objective on Pilgrim's Pride in a research note on Wednesday, April 15th. Zacks Research downgraded Pilgrim's Pride from a "hold" rating to a "strong sell" rating in a research note on Wednesday, February 11th. BMO Capital Markets reduced their price objective on shares of Pilgrim's Pride from $42.00 to $40.00 and set a "market perform" rating for the company in a research report on Wednesday, March 25th. Finally, The Goldman Sachs Group reduced their price objective on shares of Pilgrim's Pride from $44.00 to $39.00 and set a "neutral" rating for the company in a research report on Thursday, April 9th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $41.00.

Pilgrim's Pride Company Profile

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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