Semanteon Capital Management LP Sells 7,039 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Semanteon Capital Management LP reduced its stake in Pilgrim’s Pride Co. (NASDAQ:PPC) by 22.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,679 shares of the company’s stock after selling 7,039 shares during the period. Semanteon Capital Management LP’s holdings in Pilgrim’s Pride were worth $1,136,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. ORG Wealth Partners LLC acquired a new position in Pilgrim’s Pride during the 3rd quarter worth $29,000. ORG Partners LLC bought a new position in Pilgrim’s Pride during the 2nd quarter worth about $32,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Pilgrim’s Pride during the 2nd quarter worth about $32,000. Raleigh Capital Management Inc. bought a new position in Pilgrim’s Pride during the 3rd quarter worth about $34,000. Finally, Headlands Technologies LLC bought a new position in Pilgrim’s Pride during the 1st quarter worth about $38,000. 16.64% of the stock is currently owned by institutional investors.

Pilgrim’s Pride Stock Performance

Pilgrim’s Pride stock traded up $0.47 during midday trading on Monday, reaching $46.68. 27,266 shares of the company’s stock were exchanged, compared to its average volume of 884,857. Pilgrim’s Pride Co. has a 52 week low of $24.75 and a 52 week high of $49.07. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.09 and a current ratio of 1.82. The firm has a market cap of $11.06 billion, a price-to-earnings ratio of 22.66, a P/E/G ratio of 0.23 and a beta of 0.82. The stock’s 50-day simple moving average is $44.54 and its 200 day simple moving average is $40.28.

Pilgrim’s Pride (NASDAQ:PPC) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.35. Pilgrim’s Pride had a return on equity of 25.06% and a net margin of 4.25%. The business had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.62 billion. During the same quarter last year, the company posted $0.44 earnings per share. Pilgrim’s Pride’s quarterly revenue was up 5.8% on a year-over-year basis. On average, analysts expect that Pilgrim’s Pride Co. will post 4.79 earnings per share for the current fiscal year.

Insider Transactions at Pilgrim’s Pride

In other 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 completion of the sale, the chief financial officer now owns 51,750 shares in the company, valued at $2,241,292.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Fabio Sandri sold 65,000 shares of Pilgrim’s Pride stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $44.50, for a total value of $2,892,500.00. Following the completion of the sale, the chief executive officer now directly owns 279,565 shares in the company, valued at approximately $12,440,642.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Matthew R. Galvanoni sold 6,500 shares of Pilgrim’s Pride stock in a transaction that occurred on Tuesday, August 6th. The shares were 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 of the company’s stock, valued at approximately $2,241,292.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 82.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PPC shares. Stephens started coverage on Pilgrim’s Pride in a report on Thursday, October 3rd. They set an “equal weight” rating and a $43.00 target price for the company. Barclays increased their target price on Pilgrim’s Pride from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday, September 9th. Bank of America downgraded shares of Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price objective for the company. in a research note on Thursday, August 15th. Argus lifted their target price on Pilgrim’s Pride from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $46.00 target price on shares of Pilgrim’s Pride in a research report on Monday, August 12th. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $45.33.

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.