SG Americas Securities LLC reduced its position in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 73.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,295 shares of the company's stock after selling 31,255 shares during the period. SG Americas Securities LLC's holdings in Pilgrim's Pride were worth $513,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new position in shares of Pilgrim's Pride during the third quarter valued at approximately $27,000. ORG Wealth Partners LLC purchased a new stake in Pilgrim's Pride during the 3rd quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Pilgrim's Pride in the second quarter worth $32,000. Raleigh Capital Management Inc. purchased a new stake in Pilgrim's Pride during the third quarter valued at $34,000. Finally, Quarry LP lifted its holdings in Pilgrim's Pride by 295.8% in the third quarter. Quarry LP now owns 946 shares of the company's stock valued at $44,000 after acquiring an additional 707 shares during the period. 16.64% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several research firms have recently commented on PPC. Barclays upped their price objective on Pilgrim's Pride from $45.00 to $49.00 and gave the stock an "equal weight" rating in a research note on Friday, November 1st. BMO Capital Markets raised their target price on shares of Pilgrim's Pride from $42.00 to $43.00 and gave the stock a "market perform" rating in a research note on Friday, November 1st. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $45.50.
Read Our Latest Report on Pilgrim's Pride
Pilgrim's Pride Trading Up 0.9 %
PPC traded up $0.44 on Wednesday, hitting $47.70. The company had a trading volume of 940,760 shares, compared to its average volume of 945,781. The company's fifty day moving average price is $47.41 and its 200 day moving average price is $46.34. The firm has a market cap of $11.31 billion, a P/E ratio of 11.52, a PEG ratio of 0.20 and a beta of 0.82. Pilgrim's Pride Co. has a 1 year low of $26.52 and a 1 year 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.
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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