Empowered Funds LLC acquired a new stake in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 73,076 shares of the company's stock, valued at approximately $3,317,000.
Other large investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new position in shares of Pilgrim's Pride in the third quarter valued at approximately $27,000. ORG Wealth Partners LLC purchased a new stake in Pilgrim's Pride in the third quarter valued at approximately $29,000. Raleigh Capital Management Inc. purchased a new stake in Pilgrim's Pride in the third quarter valued at approximately $34,000. Quarry LP raised its stake in Pilgrim's Pride by 295.8% in the third quarter. Quarry LP now owns 946 shares of the company's stock valued at $44,000 after purchasing an additional 707 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in Pilgrim's Pride in the fourth quarter valued at approximately $59,000. 16.64% of the stock is currently owned by institutional investors.
Pilgrim's Pride Trading Up 3.5 %
Shares of Pilgrim's Pride stock traded up $1.83 on Friday, hitting $53.88. The stock had a trading volume of 2,882,145 shares, compared to its average volume of 921,735. The company has a quick ratio of 1.27, a current ratio of 1.95 and a debt-to-equity ratio of 0.75. Pilgrim's Pride Co. has a one year low of $27.99 and a one year high of $57.16. The stock has a market cap of $12.78 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 0.20 and a beta of 0.82. The stock's 50-day simple moving average is $47.45 and its two-hundred day simple moving average is $46.91.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research note on Friday. Barclays raised their target price on shares of Pilgrim's Pride from $45.00 to $49.00 and gave the company an "equal weight" rating in a research note on Friday, November 1st. Finally, BMO Capital Markets raised their target price on shares of Pilgrim's Pride from $42.00 to $43.00 and gave the company a "market perform" rating in a research note on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $45.50.
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Pilgrim's Pride Company Profile
(
Free Report)
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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