Pilgrim's Pride Co. (NASDAQ:PPC) Shares Bought by Rhumbline Advisers

Rhumbline Advisers grew its position in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 5.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,415 shares of the company's stock after buying an additional 6,485 shares during the quarter. Rhumbline Advisers' holdings in Pilgrim's Pride were worth $5,329,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. increased its holdings in Pilgrim's Pride by 1,289.4% during the 3rd quarter. Pacer Advisors Inc. now owns 5,225,216 shares of the company's stock worth $240,621,000 after purchasing an additional 4,849,147 shares during the period. Jacobs Levy Equity Management Inc. increased its position in shares of Pilgrim's Pride by 903.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,455,513 shares of the company's stock valued at $67,026,000 after purchasing an additional 1,310,530 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Pilgrim's Pride by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 881,900 shares of the company's stock valued at $40,620,000 after purchasing an additional 11,128 shares in the last quarter. Assetmark Inc. lifted its position in shares of Pilgrim's Pride by 145,879.0% during the 3rd quarter. Assetmark Inc. now owns 827,701 shares of the company's stock worth $38,116,000 after purchasing an additional 827,134 shares during the last quarter. Finally, Martingale Asset Management L P grew its stake in shares of Pilgrim's Pride by 23.4% during the third quarter. Martingale Asset Management L P now owns 238,151 shares of the company's stock worth $10,967,000 after purchasing an additional 45,172 shares in the last quarter. Hedge funds and other institutional investors own 16.64% of the company's stock.

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Pilgrim's Pride Stock Performance

PPC traded up $0.55 during trading on Monday, hitting $54.94. 798,901 shares of the stock were exchanged, compared to its average volume of 1,115,644. The firm has a market capitalization of $13.03 billion, a P/E ratio of 12.11 and a beta of 0.82. Pilgrim's Pride Co. has a 1-year low of $31.60 and a 1-year high of $57.16. The stock has a fifty day moving average price of $48.33 and a two-hundred day moving average price of $47.59. The company has a quick ratio of 1.31, a current ratio of 2.01 and a debt-to-equity ratio of 0.75.

Analyst Upgrades and Downgrades

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