Lecap Asset Management Ltd. Sells 273 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Lecap Asset Management Ltd. trimmed its holdings in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 3.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 7,299 shares of the company’s stock after selling 273 shares during the period. Lecap Asset Management Ltd.’s holdings in Pilgrim’s Pride were worth $281,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PPC. Jones Financial Companies Lllp purchased a new position in shares of Pilgrim’s Pride in the fourth quarter worth $28,000. GAMMA Investing LLC bought a new stake in Pilgrim’s Pride in the 4th quarter worth $30,000. ORG Partners LLC bought a new stake in Pilgrim’s Pride in the 2nd quarter worth $32,000. Headlands Technologies LLC purchased a new position in shares of Pilgrim’s Pride in the first quarter valued at about $38,000. Finally, CWM LLC raised its stake in shares of Pilgrim’s Pride by 746.4% during the second quarter. CWM LLC now owns 1,752 shares of the company’s stock valued at $67,000 after acquiring an additional 1,545 shares during the last quarter. 16.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PPC. Bank of America downgraded Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price target on the stock. in a report on Thursday, August 15th. StockNews.com raised Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 3rd. Barclays raised their price target on Pilgrim’s Pride from $40.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Argus boosted their price objective on shares of Pilgrim’s Pride from $41.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, BMO Capital Markets restated a “market perform” rating and issued a $46.00 price objective on shares of Pilgrim’s Pride in a report on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pilgrim’s Pride currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.40.

Insiders Place Their Bets

In related news, CFO Matthew R. Galvanoni sold 6,500 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $43.31, for a total transaction of $281,515.00. Following the completion of the sale, the chief financial officer now owns 51,750 shares in the company, valued at $2,241,292.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Pilgrim’s Pride news, CFO Matthew R. Galvanoni sold 6,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $43.31, for a total transaction of $281,515.00. Following the sale, the chief financial officer now directly owns 51,750 shares of the company’s stock, valued at $2,241,292.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Fabio Sandri sold 65,000 shares of Pilgrim’s Pride stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $44.50, for a total transaction of $2,892,500.00. Following the transaction, the chief executive officer now directly owns 279,565 shares of the company’s stock, valued at $12,440,642.50. The disclosure for this sale can be found here. 82.63% of the stock is owned by insiders.

Pilgrim’s Pride Stock Down 0.6 %

Shares of PPC traded down $0.25 on Thursday, reaching $43.72. The stock had a trading volume of 49,365 shares, compared to its average volume of 700,711. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.01 and a current ratio of 1.82. The firm has a market capitalization of $10.36 billion, a price-to-earnings ratio of 21.34, a price-to-earnings-growth ratio of 0.27 and a beta of 0.78. The company has a 50-day simple moving average of $39.82 and a 200-day simple moving average of $35.98. Pilgrim’s Pride Co. has a 12-month low of $22.33 and a 12-month high of $45.89.

Pilgrim’s Pride (NASDAQ:PPC) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.35. The firm had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.62 billion. Pilgrim’s Pride had a return on equity of 25.06% and a net margin of 4.25%. Pilgrim’s Pride’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 EPS. Sell-side analysts predict that Pilgrim’s Pride Co. will post 4.25 EPS for the current year.

Pilgrim’s Pride Company 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.