Assetmark Inc. Increases Stock Holdings in Pilgrim's Pride Co. (NASDAQ:PPC)

Assetmark Inc. grew its stake in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 849,276 shares of the company's stock after purchasing an additional 21,575 shares during the period. Assetmark Inc. owned about 0.36% of Pilgrim's Pride worth $38,549,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PPC. Harbor Capital Advisors Inc. acquired a new stake in shares of Pilgrim's Pride in the 3rd quarter valued at approximately $27,000. Quarry LP raised its holdings in Pilgrim's Pride by 295.8% in the 3rd quarter. Quarry LP now owns 946 shares of the company's stock valued at $44,000 after buying an additional 707 shares during the last quarter. R Squared Ltd bought a new position in Pilgrim's Pride in the 4th quarter valued at approximately $59,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Pilgrim's Pride in the 4th quarter valued at approximately $118,000. Finally, GAMMA Investing LLC raised its holdings in Pilgrim's Pride by 31.9% in 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 and hedge funds.

Pilgrim's Pride Stock Up 3.8 %

NASDAQ PPC traded up $2.02 during mid-day trading on Friday, hitting $54.62. The company's stock had a trading volume of 1,131,166 shares, compared to its average volume of 1,134,911. The company's 50 day simple moving average is $49.12 and its 200 day simple moving average is $47.92. Pilgrim's Pride Co. has a twelve month low of $32.06 and a twelve 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. The firm has a market capitalization of $12.95 billion, a price-to-earnings ratio of 11.98 and a beta of 0.71.

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Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 2nd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average 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.