Alaska Permanent Fund Corp Makes New $457,000 Investment in Pilgrim’s Pride Co. (NASDAQ:PPC)

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

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new position in shares of Pilgrim’s Pride during the 4th quarter valued at about $30,000. Financial Management Professionals Inc. acquired a new position in shares of Pilgrim’s Pride during the 4th quarter valued at about $32,000. Clear Street Markets LLC purchased a new stake in Pilgrim’s Pride in the 3rd quarter valued at about $50,000. MQS Management LLC purchased a new stake in Pilgrim’s Pride in the 3rd quarter valued at about $222,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Pilgrim’s Pride by 41.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,191 shares of the company’s stock valued at $233,000 after buying an additional 2,977 shares during the period. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Price Performance

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

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

Insider Activity

In other 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 value of $1,332,800.00. Following the completion of the sale, the chief executive officer now directly owns 257,065 shares of the company’s stock, valued at $8,565,405.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 82.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PPC shares. BMO Capital Markets upped their target price on shares of Pilgrim’s Pride from $32.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. StockNews.com upgraded shares of Pilgrim’s Pride from a “hold” rating to a “buy” rating in a research note on Tuesday, February 27th. The Goldman Sachs Group upped their price target on Pilgrim’s Pride from $32.00 to $36.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Barclays reaffirmed an “equal weight” rating and issued a $38.00 price target (up from $35.00) on shares of Pilgrim’s Pride in a report on Tuesday, April 16th. Finally, Bank of America upped their price target on Pilgrim’s Pride from $36.00 to $40.00 and gave the company a “buy” rating in a report on Monday, April 15th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus 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.