BlackRock Fund Advisors has recently announced that it has increased stake in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 0.23%. After grabbing 3.78 million shares, the institutional investor is now in possession of 8656.0 shares of the Consumer Defensive Company. The new investment brought the stake of investor firm to 1.60% having worth around $86.25 million. Moreover, Dimensional Fund Advisors LP increased its share by 0.15 million to have a control over 2.7 million shares. And Candlestick Capital Management LP raised its holdings to 1.12 million shares by acquiring 1.9 million shares or 0.80% of the stake.
Pilgrim’s Pride Corporation (PPC) concluded trading on 05/24/23 at a closing price of $23.79, with 0.99 million shares of worth about $23.64 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -8.43% during that period and on Wednesday the price saw a gain of about 0.51%. Currently the company’s common shares owned by public are about 236.59M shares, out of which, 40.63M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 10 times over the past 12 months. They bought 16,740 shares in 6 of the transactions. In 4 selling transactions, insiders dumped 126,251 shares.
iShares Core S&P Mid Cap ETF, First Trust Consumer Staples Alph, and Lyxor Newcits IRL Plc – Tiedemann are the top 3 mutual funds which are holding stakes in Pilgrim’s Pride Corporation iShares Core S&P Mid Cap ETF is currently holding 1.4 million shares of worth totaling $31.95 million. The company recently came selling 789.0 shares which brought its stake up to 0.59% of the company’s outstanding shares. Lyxor Newcits IRL Plc – Tiedemann, after buying 0.97 million shares, have now control over 0.41% of the stake in the company. It holds 0.97 million shares of worth $22.21 million.
Pilgrim’s Pride Corporation (NASDAQ: PPC) started trading at $23.66, below -$0.01 from concluding price of the previous day. However, the stock later moved at a day high price of 23.80, or with a gain of 0.51%. Stock saw a price change of 1.80% in past 5 days and over the past one month there was a price change of 9.03%. Year-to-date (YTD), PPC shares are showing a performance of 0.25% which decreased to -22.88% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $20.59 but also hit the highest price of $34.66 during that period. The average intraday trading volume for Pilgrim’s Pride Corporation shares is 749.77K. The stock is currently trading 5.03% above its 20-day simple moving average (SMA20), while that difference is up 4.47% for SMA50 and it goes to -2.89% lower than SMA200.
BlackRock Fund Advisors acquired 3.78 million shares of Pilgrim’s Pride Corporation having value of about $86.25 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 8656.0 shares in the company valued at close to $205926.24, or have control over 0.23% stake in the company. Pilgrim’s Pride Corporation (NASDAQ: PPC) currently have 236.59M outstanding shares and institutions hold larger chunk of about 17.70% of that. Holding of mutual funds in the company is about 7.73% while other institutional holders and individual stake holders have control over 90.83% and 10.06% of the stake respectively.
The stock has a current market capitalization of $5.60B and its 3Y-monthly beta is at 0.98. PE ratio of stock for trailing 12 months is 12.21, while it has posted earnings per share of $1.95 in the same period. It has Quick Ratio of 0.70 while making debt-to-equity ratio of 1.11. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PPC, volatility over the week remained 2.05% while standing at 2.81% over the month.
Analysts are in expectations that Pilgrim’s Pride Corporation (PPC) stock would likely to be making an EPS of $0.36 in the current quarter, while forecast for next quarter EPS is $0.49 and it is $2.2 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.28 which is $0.47 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.54 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -62.90% while it is estimated to increase by 77.17% in next year. EPS is likely to shrink at an annualized rate of -7.00% for next 5-years, compared to annual growth of 3.40% made by the stock over the past 5-years.
