Advisors Preferred LLC Invests $8.60 Million in Pilgrim's Pride Co. (NASDAQ:PPC)

Advisors Preferred LLC acquired a new position in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 182,104 shares of the company's stock, valued at approximately $8,601,000. Pilgrim's Pride makes up about 1.4% of Advisors Preferred LLC's holdings, making the stock its 18th largest holding. Advisors Preferred LLC owned about 0.08% of Pilgrim's Pride as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in PPC. Pacer Advisors Inc. lifted its holdings in shares of Pilgrim's Pride by 1,289.4% in the 3rd quarter. Pacer Advisors Inc. now owns 5,225,216 shares of the company's stock valued at $240,621,000 after buying an additional 4,849,147 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in Pilgrim's Pride by 903.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,455,513 shares of the company's stock valued at $67,026,000 after acquiring an additional 1,310,530 shares during the last quarter. Geode Capital Management LLC boosted its stake in Pilgrim's Pride by 1.3% during the third quarter. Geode Capital Management LLC now owns 881,900 shares of the company's stock worth $40,620,000 after buying an additional 11,128 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Pilgrim's Pride by 145,879.0% in the third quarter. Assetmark Inc. now owns 827,701 shares of the company's stock valued at $38,116,000 after purchasing an additional 827,134 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Pilgrim's Pride by 88.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 433,891 shares of the company's stock worth $19,981,000 after buying an additional 203,408 shares during the last quarter. Institutional investors own 16.64% of the company's stock.

Pilgrim's Pride Trading Down 4.2 %

Shares of PPC stock traded down $2.22 on Wednesday, reaching $50.33. 1,721,209 shares of the stock were exchanged, compared to its average volume of 1,029,898. The stock has a market cap of $11.93 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 0.20 and a beta of 0.82. Pilgrim's Pride Co. has a 1-year low of $27.57 and a 1-year high of $55.50. The company has a quick ratio of 1.27, a current ratio of 1.95 and a debt-to-equity ratio of 0.75. The firm has a 50 day moving average of $47.36 and a two-hundred day moving average of $46.70.

Analysts Set New Price Targets

Several research firms have recently commented on PPC. BMO Capital Markets raised their price target on Pilgrim's Pride from $42.00 to $43.00 and gave the stock a "market perform" rating in a research report on Friday, November 1st. Barclays lifted their price objective on shares of Pilgrim's Pride from $45.00 to $49.00 and gave the stock an "equal weight" rating in a research report on Friday, November 1st. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Pilgrim's Pride currently has an average rating of "Hold" and a consensus target price 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.