Kestra Private Wealth Services LLC Takes $596,000 Position in Pilgrim's Pride Co. (NASDAQ:PPC)

Kestra Private Wealth Services LLC purchased a new stake in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 13,141 shares of the company's stock, valued at approximately $596,000.

Several other institutional investors also recently made changes to their positions in the stock. Franklin Resources Inc. increased its holdings in Pilgrim's Pride by 325.8% in the 3rd quarter. Franklin Resources Inc. now owns 55,071 shares of the company's stock valued at $2,485,000 after purchasing an additional 42,136 shares in the last quarter. World Investment Advisors LLC bought a new stake in Pilgrim's Pride in the third quarter valued at about $808,000. Exchange Traded Concepts LLC increased its holdings in shares of Pilgrim's Pride by 8.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 113,549 shares of the company's stock valued at $5,154,000 after acquiring an additional 9,035 shares during the last quarter. Range Financial Group LLC bought a new stake in Pilgrim's Pride during the fourth quarter valued at $949,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Pilgrim's Pride by 25.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 201,784 shares of the company's stock worth $9,292,000 after buying an additional 40,908 shares during the last quarter. 16.64% of the stock is owned by hedge funds and other institutional investors.

Pilgrim's Pride Stock Performance

Pilgrim's Pride stock traded up $0.94 during mid-day trading on Wednesday, reaching $53.09. The company had a trading volume of 770,251 shares, compared to its average volume of 1,107,681. The company has a 50 day moving average of $47.63 and a 200-day moving average of $47.06. Pilgrim's Pride Co. has a 52 week low of $28.29 and a 52 week high of $57.16. The company has a quick ratio of 1.31, a current ratio of 2.01 and a debt-to-equity ratio of 0.75. The firm has a market cap of $12.59 billion, a price-to-earnings ratio of 11.64 and a beta of 0.82.

Analyst Upgrades and Downgrades

Several analysts recently commented on PPC shares. BMO Capital Markets raised their target price 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. StockNews.com cut shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Finally, Barclays lifted their target price on Pilgrim's Pride from $45.00 to $49.00 and gave the stock an "equal weight" rating in a report 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. Based on data from MarketBeat, Pilgrim's Pride has a consensus rating of "Hold" and an average target price of $45.50.

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.