Tudor Investment Corp ET AL Raises Stock Holdings in Pilgrim's Pride Corporation $PPC

Key Points

• Tudor Investment Corp ET AL dramatically increased its position in Pilgrim's Pride by 2,486.1% in Q3, adding 109,388 shares to hold 113,788 shares worth about $4.63 million.
• Vanguard also boosted its stake by 10% to 5,672,728 shares (≈$231.0 million), and hedge funds/institutional investors collectively own about 16.64% of the company.
• Pilgrim's Pride reported Q EPS of $0.64, missing estimates of $0.78 while posting $4.52 billion in revenue; the stock trades at a PE of 7.93 and carries an analyst consensus rating of Hold with a $41.33 price target.

Tudor Investment Corp ET AL raised its position in Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) by 2,486.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 113,788 shares of the company's stock after buying an additional 109,388 shares during the quarter. Tudor Investment Corp ET AL's holdings in Pilgrim's Pride were worth $4,633,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisors Preferred LLC purchased a new stake in shares of Pilgrim's Pride in the third quarter valued at about $1,858,000. Barings LLC purchased a new stake in shares of Pilgrim's Pride in the third quarter valued at about $1,335,000. Quantbot Technologies LP raised its holdings in shares of Pilgrim's Pride by 163.4% in the third quarter. Quantbot Technologies LP now owns 117,781 shares of the company's stock valued at $4,796,000 after buying an additional 73,068 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Pilgrim's Pride by 10.0% in the third quarter. Vanguard Group Inc. now owns 5,672,728 shares of the company's stock valued at $230,993,000 after buying an additional 516,598 shares during the last quarter. Finally, Accredited Wealth Management LLC raised its holdings in shares of Pilgrim's Pride by 3,257.0% in the third quarter. Accredited Wealth Management LLC now owns 30,213 shares of the company's stock valued at $1,230,000 after buying an additional 29,313 shares during the last quarter. Hedge funds and other institutional investors own 16.64% of the company's stock.

Pilgrim's Pride Trading Up 0.1%

Shares of Pilgrim's Pride stock opened at $35.99 on Friday. Pilgrim's Pride Corporation has a 12-month low of $34.39 and a 12-month high of $55.18. The company has a current ratio of 1.47, a quick ratio of 0.76 and a debt-to-equity ratio of 0.84. The stock has a market cap of $8.56 billion, a PE ratio of 7.93 and a beta of 0.46. The company has a 50-day moving average of $39.72 and a two-hundred day moving average of $39.35.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.64 earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $4.52 billion during the quarter, compared to analysts' expectations of $4.39 billion. During the same quarter in the prior year, the business earned $1.35 EPS. The company's quarterly revenue was up 3.3% compared to the same quarter last year. On average, research analysts anticipate that Pilgrim's Pride Corporation will post 5.13 EPS for the current fiscal year.

Insider Buying and Selling at Pilgrim's Pride

In other news, CFO Matthew R. Galvanoni sold 6,963 shares of the firm's 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 82.56% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PPC shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Pilgrim's Pride in a report on Monday, December 29th. The Goldman Sachs Group reduced their target price on shares of Pilgrim's Pride from $44.00 to $39.00 and set a "neutral" rating for the company in a report on Thursday. Zacks Research cut Pilgrim's Pride from a "hold" rating to a "strong sell" rating in a research note on Wednesday, February 11th. Santander upgraded Pilgrim's Pride from a "neutral" rating to an "outperform" rating in a research note on Thursday, December 11th. Finally, Wall Street Zen cut Pilgrim's Pride from a "buy" rating to a "hold" rating in a research note on Sunday, February 15th. One equities 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 company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $41.33.

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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