Los Angeles Capital Management LLC Acquires 6,955 Shares of Pilgrim's Pride Co. (NASDAQ:PPC)

Los Angeles Capital Management LLC boosted its position in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 40.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,189 shares of the company's stock after buying an additional 6,955 shares during the quarter. Los Angeles Capital Management LLC's holdings in Pilgrim's Pride were worth $1,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PPC. Franklin Resources Inc. increased its position in shares of Pilgrim's Pride by 325.8% during the third quarter. Franklin Resources Inc. now owns 55,071 shares of the company's stock valued at $2,485,000 after buying an additional 42,136 shares during the period. Sigma Planning Corp increased its holdings in Pilgrim's Pride by 73.9% during the 4th quarter. Sigma Planning Corp now owns 28,587 shares of the company's stock worth $1,298,000 after acquiring an additional 12,149 shares during the period. World Investment Advisors LLC purchased a new stake in Pilgrim's Pride in the 3rd quarter worth approximately $808,000. Exchange Traded Concepts LLC boosted its holdings in 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 purchasing an additional 9,035 shares during the period. Finally, Range Financial Group LLC bought a new position in Pilgrim's Pride in the fourth quarter valued at $949,000. 16.64% of the stock is currently owned by institutional investors.

Pilgrim's Pride Trading Down 1.0 %

Pilgrim's Pride stock traded down $0.53 during mid-day trading on Wednesday, hitting $53.38. The company's stock had a trading volume of 1,185,083 shares, compared to its average volume of 1,140,842. The business has a 50 day moving average price of $48.66 and a 200-day moving average price of $47.74. Pilgrim's Pride Co. has a 12 month low of $31.73 and a 12 month high of $57.16. The stock has a market cap of $12.66 billion, a price-to-earnings ratio of 11.71 and a beta of 0.82. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.01 and a quick ratio of 1.31.

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Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Sunday. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Pilgrim's Pride has an average rating of "Hold" and an average target price of $45.50.

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.