AGF Management Ltd. Invests $2.36 Million in Pilgrim's Pride Co. (NASDAQ:PPC)

AGF Management Ltd. purchased a new stake in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 51,990 shares of the company's stock, valued at approximately $2,360,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP raised its holdings in shares of Pilgrim's Pride by 295.8% in the 3rd quarter. Quarry LP now owns 946 shares of the company's stock worth $44,000 after purchasing an additional 707 shares in the last quarter. R Squared Ltd purchased a new stake in Pilgrim's Pride in the 4th quarter worth approximately $59,000. Harbor Capital Advisors Inc. boosted its position in Pilgrim's Pride by 132.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 1,344 shares of the company's stock valued at $61,000 after purchasing an additional 765 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Pilgrim's Pride during the 4th quarter worth about $118,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Pilgrim's Pride by 31.9% during the 4th quarter. GAMMA Investing LLC now owns 2,688 shares of the company's stock valued at $122,000 after buying an additional 650 shares during the last quarter. 16.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. StockNews.com cut shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 2nd. Santander assumed coverage on Pilgrim's Pride in a report on Wednesday, March 5th. They set a "neutral" rating on the stock. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $45.50.

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Pilgrim's Pride Price Performance

Shares of Pilgrim's Pride stock opened at $50.27 on Friday. The firm has a fifty day moving average price of $49.60 and a two-hundred day moving average price of $48.11. Pilgrim's Pride Co. has a fifty-two week low of $32.82 and a fifty-two week 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 company has a market cap of $11.92 billion, a PE ratio of 11.02 and a beta of 0.71.

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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