Rhumbline Advisers increased its holdings in shares of Pilgrim’s Pride Co. (NASDAQ:PPC – Free Report) by 5.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 117,415 shares of the company’s stock after purchasing an additional 6,485 shares during the period. Rhumbline Advisers’ holdings in Pilgrim’s Pride were worth $5,329,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Gladstone Institutional Advisory LLC acquired a new position in shares of Pilgrim’s Pride during the fourth quarter worth about $402,000. Kestra Private Wealth Services LLC purchased a new stake in shares of Pilgrim’s Pride during the 4th quarter valued at about $596,000. Empowered Funds LLC purchased a new stake in shares of Pilgrim’s Pride during the 4th quarter valued at about $3,317,000. Advisors Preferred LLC acquired a new position in Pilgrim’s Pride during the 4th quarter worth approximately $8,601,000. Finally, Strategic Financial Concepts LLC purchased a new position in Pilgrim’s Pride in the 4th quarter worth approximately $1,236,000. 16.64% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
PPC has been the topic of a number of analyst reports. StockNews.com upgraded shares of Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 22nd. Barclays lifted their price target on shares of Pilgrim’s Pride from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets upped their price objective on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Pilgrim’s Pride presently has an average rating of “Hold” and an average target price of $45.50.
Pilgrim’s Pride Trading Down 0.7 %
PPC opened at $53.81 on Friday. Pilgrim’s Pride Co. has a 12-month low of $31.31 and a 12-month high of $57.16. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.01 and a quick ratio of 1.31. The stock has a market capitalization of $12.76 billion, a PE ratio of 11.80 and a beta of 0.82. The firm’s fifty day moving average price is $48.17 and its 200 day moving average price is $47.48.
About Pilgrim’s Pride
Pilgrim’s Pride Corp. engages in the production, processing, marketing, and distribution of fresh, frozen and value-added chicken and pork products to retailers, distributors, and foodservice operators. It operates through the following segments: U.S., U.K. and Europe, and Mexico. The company was founded by Lonnie A.
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