Kestra Investment Management LLC Increases Stake in Pilgrim's Pride Co. (NASDAQ:PPC)

Kestra Investment Management LLC lifted its holdings in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 102.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,866 shares of the company's stock after acquiring an additional 10,578 shares during the period. Kestra Investment Management LLC's holdings in Pilgrim's Pride were worth $947,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Vestcor Inc grew its stake in shares of Pilgrim's Pride by 1.1% in the 3rd quarter. Vestcor Inc now owns 19,783 shares of the company's stock valued at $911,000 after purchasing an additional 212 shares during the last quarter. CIBC Asset Management Inc raised its position in Pilgrim's Pride by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 6,836 shares of the company's stock worth $315,000 after buying an additional 216 shares during the last quarter. CWM LLC boosted its holdings in Pilgrim's Pride by 19.1% in the 3rd quarter. CWM LLC now owns 2,086 shares of the company's stock valued at $96,000 after purchasing an additional 334 shares in the last quarter. Loomis Sayles & Co. L P raised its position in Pilgrim's Pride by 3.2% in the third quarter. Loomis Sayles & Co. L P now owns 13,079 shares of the company's stock worth $602,000 after acquiring an additional 401 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in Pilgrim's Pride in the third quarter worth $27,000. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

Pilgrim's Pride Price Performance

Shares of PPC stock traded up $1.29 during trading hours on Friday, hitting $53.13. The company's stock had a trading volume of 1,181,114 shares, compared to its average volume of 1,124,842. The company has a current ratio of 2.01, a quick ratio of 1.31 and a debt-to-equity ratio of 0.75. Pilgrim's Pride Co. has a twelve month low of $28.49 and a twelve month high of $57.16. The stock has a market cap of $12.60 billion, a price-to-earnings ratio of 11.65 and a beta of 0.82. The business has a fifty day moving average of $47.73 and a 200-day moving average of $47.14.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Barclays increased their price objective on Pilgrim's Pride from $45.00 to $49.00 and gave the stock an "equal weight" rating in a research report on Friday, November 1st. BMO Capital Markets boosted 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. Finally, StockNews.com downgraded shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Five research 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 company presently 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.