Paragon Capital Management Inc. Takes $1.50 Million Position in Pilgrim's Pride Co. (NASDAQ:PPC)

Paragon Capital Management Inc. acquired a new position in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 33,074 shares of the company's stock, valued at approximately $1,501,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PPC. Harbor Capital Advisors Inc. bought a new position in shares of Pilgrim's Pride in the third quarter valued at $27,000. ORG Wealth Partners LLC acquired a new stake in Pilgrim's Pride during the 3rd quarter valued at $29,000. Raleigh Capital Management Inc. purchased a new position in shares of Pilgrim's Pride during the 3rd quarter valued at $34,000. Quarry LP grew its holdings in shares of Pilgrim's Pride by 295.8% during the 3rd quarter. Quarry LP now owns 946 shares of the company's stock valued at $44,000 after acquiring an additional 707 shares in the last quarter. Finally, R Squared Ltd purchased a new position in shares of Pilgrim's Pride during the 4th quarter valued at $59,000. Institutional investors own 16.64% of the company's stock.

Pilgrim's Pride Price Performance

NASDAQ:PPC traded up $2.40 during mid-day trading on Friday, hitting $51.05. The company's stock had a trading volume of 1,302,111 shares, compared to its average volume of 921,735. Pilgrim's Pride Co. has a fifty-two week low of $27.01 and a fifty-two week high of $55.50. The company has a current ratio of 1.95, a quick ratio of 1.27 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $12.10 billion, a price-to-earnings ratio of 12.33, a P/E/G ratio of 0.20 and a beta of 0.82. The stock has a fifty day moving average of $47.36 and a 200-day moving average of $46.43.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PPC. BMO Capital Markets upped their price objective on shares of Pilgrim's Pride from $42.00 to $43.00 and gave the stock a "market perform" rating in a report on Friday, November 1st. Barclays upped their price target on shares of Pilgrim's Pride from $45.00 to $49.00 and gave the company an "equal weight" rating in a report on Friday, November 1st. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Pilgrim's Pride currently has an average rating of "Hold" and a consensus target price 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.