Convergence Investment Partners LLC Raises Holdings in Pilgrim's Pride Co. (NASDAQ:PPC)

Convergence Investment Partners LLC grew its stake in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 42.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,029 shares of the company's stock after purchasing an additional 12,422 shares during the period. Convergence Investment Partners LLC's holdings in Pilgrim's Pride were worth $1,908,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. CWM LLC lifted 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 in the last quarter. Blue Trust Inc. raised its position in Pilgrim's Pride by 34.8% in the 3rd quarter. Blue Trust Inc. now owns 3,197 shares of the company's stock valued at $147,000 after buying an additional 825 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in 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 valued at $19,981,000 after acquiring an additional 203,408 shares in the last quarter. Castleview Partners LLC purchased a new position in Pilgrim's Pride during the 3rd quarter worth $86,000. Finally, Raleigh Capital Management Inc. bought a new stake in shares of Pilgrim's Pride in the 3rd quarter worth $34,000. Institutional investors own 16.64% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on PPC. Barclays boosted 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 report on Friday, November 1st. StockNews.com downgraded Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Finally, BMO Capital Markets increased their price target on 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 and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Pilgrim's Pride currently has an average rating of "Hold" and an average target price of $45.50.

Pilgrim's Pride Price Performance

PPC traded up $1.29 during midday trading on Friday, hitting $53.13. The stock had a trading volume of 1,181,114 shares, compared to its average volume of 1,124,842. Pilgrim's Pride Co. has a 1 year low of $28.49 and a 1 year high of $57.16. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01. The business has a fifty day moving average of $47.73 and a 200 day moving average of $47.14. The company has a market cap of $12.60 billion, a P/E ratio of 11.65 and a beta of 0.82.

Pilgrim's Pride Company 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.