Norden Group LLC grew its stake in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 61.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,211 shares of the company's stock after acquiring an additional 5,798 shares during the period. Norden Group LLC's holdings in Pilgrim's Pride were worth $690,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of PPC. Harbor Capital Advisors Inc. acquired a new position in shares of Pilgrim's Pride during the 3rd quarter worth $27,000. Quarry LP raised its holdings in Pilgrim's Pride by 295.8% in the 3rd quarter. Quarry LP now owns 946 shares of the company's stock worth $44,000 after acquiring an additional 707 shares during the period. R Squared Ltd bought a new position in Pilgrim's Pride in the 4th quarter worth $59,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Pilgrim's Pride during the 4th quarter worth $118,000. Finally, GAMMA Investing LLC boosted its holdings in Pilgrim's Pride by 31.9% during the fourth quarter. GAMMA Investing LLC now owns 2,688 shares of the company's stock valued at $122,000 after acquiring an additional 650 shares during the period. 16.64% of the stock is owned by institutional investors and hedge funds.
Pilgrim's Pride Price Performance
NASDAQ:PPC traded up $2.02 during mid-day trading on Friday, hitting $54.62. The company's stock had a trading volume of 1,131,166 shares, compared to its average volume of 1,134,908. The company has a current ratio of 2.01, a quick ratio of 1.31 and a debt-to-equity ratio of 0.75. The stock has a fifty day moving average of $48.94 and a 200-day moving average of $47.81. The company has a market capitalization of $12.95 billion, a price-to-earnings ratio of 11.98 and a beta of 0.82. Pilgrim's Pride Co. has a fifty-two week low of $32.06 and a fifty-two week high of $57.16.
Wall Street Analyst Weigh In
Separately, StockNews.com lowered Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 2nd. 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, the stock presently has an average rating of "Hold" and a consensus target price of $45.50.
Get Our Latest Stock Analysis on Pilgrim's Pride
About Pilgrim's Pride
(
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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