Van ECK Associates Corp Has $4.14 Million Stock Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

Van ECK Associates Corp cut its position in Pilgrim’s Pride Co. (NASDAQ:PPC) by 11.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 91,204 shares of the company’s stock after selling 12,372 shares during the period. Van ECK Associates Corp’s holdings in Pilgrim’s Pride were worth $4,140,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Harbor Capital Advisors Inc. bought a new position in Pilgrim’s Pride in the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. bought a new position in Pilgrim’s Pride in the third quarter valued at approximately $34,000. Quarry LP raised its holdings in shares of Pilgrim’s Pride by 295.8% during the third quarter. Quarry LP now owns 946 shares of the company’s stock worth $44,000 after acquiring an additional 707 shares during the period. R Squared Ltd bought a new stake in shares of Pilgrim’s Pride in the fourth quarter valued at about $59,000. Finally, CWM LLC raised its holdings in shares of Pilgrim’s Pride by 19.1% in the third quarter. CWM LLC now owns 2,086 shares of the company’s stock valued at $96,000 after purchasing an additional 334 shares during the last quarter. 16.64% of the stock is currently owned by institutional investors.

Pilgrim’s Pride Stock Up 1.8 %

PPC stock opened at $53.11 on Thursday. The firm has a 50-day moving average price of $47.69 and a 200-day moving average price of $47.11. The stock has a market capitalization of $12.59 billion, a P/E ratio of 11.65 and a beta of 0.82. Pilgrim’s Pride Co. has a 12 month low of $28.29 and a 12 month high of $57.16. The company has a current ratio of 2.01, a quick ratio of 1.31 and a debt-to-equity ratio of 0.75.

Analyst Ratings Changes

Several analysts recently issued reports on PPC shares. BMO Capital Markets upped their target price on Pilgrim’s Pride from $42.00 to $43.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. StockNews.com cut Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Finally, Barclays boosted their price objective on shares of Pilgrim’s Pride from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $45.50.

Pilgrim’s Pride Profile

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.