Pilgrim's Pride Corporation $PPC Shares Bought by AE Wealth Management LLC

Key Points

• AE Wealth Management boosted its Pilgrim's Pride stake by 164.8%, buying 37,784 shares to hold 60,718 shares worth about $2.37 million after the quarter.
• Analyst sentiment has weakened — the stock carries a consensus rating of "Hold" with a $41 target after several downgrades and price-target cuts from firms including BMO and Goldman, while Zacks rated it a "strong sell."
• Pilgrim's Pride missed quarterly EPS ($0.64 vs. $0.78 estimate) despite revenue beating estimates; the stock trades near $33 (52-week low ~$32.79), has a market cap of $7.86B and a P/E of 7.28, and the CFO recently sold ~6,963 shares.

AE Wealth Management LLC raised its position in Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) by 164.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 60,718 shares of the company's stock after buying an additional 37,784 shares during the quarter. AE Wealth Management LLC's holdings in Pilgrim's Pride were worth $2,367,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. New York State Common Retirement Fund increased its stake in Pilgrim's Pride by 1.3% in the 2nd 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. Signaturefd LLC increased its stake in Pilgrim's Pride by 23.5% in the 4th quarter. Signaturefd LLC now owns 1,350 shares of the company's stock valued at $53,000 after buying an additional 257 shares during the period. Kendall Capital Management increased its stake in Pilgrim's Pride by 4.3% in the 3rd quarter. Kendall Capital Management now owns 6,385 shares of the company's stock valued at $260,000 after buying an additional 265 shares during the period. Thrivent Financial for Lutherans increased its stake in Pilgrim's Pride by 3.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 9,824 shares of the company's stock valued at $400,000 after buying an additional 333 shares during the period. Finally, California State Teachers Retirement System grew its holdings in Pilgrim's Pride by 0.9% during the second quarter. California State Teachers Retirement System now owns 43,476 shares of the company's stock worth $1,956,000 after acquiring an additional 380 shares during the period. 16.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PPC. Wall Street Zen cut Pilgrim's Pride from a "buy" rating to a "hold" rating in a research report on Sunday, February 15th. BMO Capital Markets lowered their price target on shares of Pilgrim's Pride from $42.00 to $40.00 and set a "market perform" rating on the stock in a research note on Wednesday, March 25th. Weiss Ratings reiterated a "hold (c)" rating on shares of Pilgrim's Pride in a report on Monday, December 29th. 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 note on Thursday, April 9th. Finally, Zacks Research downgraded shares of Pilgrim's Pride from a "hold" rating to a "strong sell" rating in a report on Wednesday, February 11th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $41.00.

Pilgrim's Pride Stock Down 2.6%

Pilgrim's Pride stock opened at $33.03 on Tuesday. Pilgrim's Pride Corporation has a fifty-two week low of $32.79 and a fifty-two week high of $55.18. The firm has a market capitalization of $7.86 billion, a price-to-earnings ratio of 7.28 and a beta of 0.46. The stock's fifty day moving average is $38.44 and its two-hundred day moving average is $39.00. 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 released 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). The firm had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.39 billion. Pilgrim's Pride had a return on equity of 35.15% and a net margin of 5.85%.The company's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $1.35 EPS. Analysts predict that Pilgrim's Pride Corporation will post 4.14 EPS for the current fiscal year.

Insider Activity at Pilgrim's Pride

In other news, CFO Matthew R. Galvanoni sold 6,963 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at $3,977,597.44. This trade represents a 7.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 82.23% of the stock is owned by corporate insiders.

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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