StockNews.com lowered shares of Pilgrim's Pride (NASDAQ:PPC - Free Report) from a strong-buy rating to a buy rating in a research report released on Sunday.
Pilgrim's Pride Stock Down 1.0 %
Shares of NASDAQ PPC traded down $0.53 during mid-day trading on Friday, reaching $53.38. 1,185,083 shares of the company traded hands, compared to its average volume of 1,140,842. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01. The stock has a market cap of $12.66 billion, a PE ratio of 11.71 and a beta of 0.82. The company's fifty day moving average is $48.66 and its two-hundred day moving average is $47.74. Pilgrim's Pride has a fifty-two week low of $31.73 and a fifty-two week high of $57.16.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. grew its holdings in Pilgrim's Pride by 1,289.4% in the 3rd quarter. Pacer Advisors Inc. now owns 5,225,216 shares of the company's stock valued at $240,621,000 after buying an additional 4,849,147 shares during the last quarter. Vanguard Group Inc. grew its holdings in Pilgrim's Pride by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 5,113,888 shares of the company's stock valued at $232,119,000 after buying an additional 33,965 shares during the last quarter. AQR Capital Management LLC grew its holdings in Pilgrim's Pride by 44.1% in the 4th quarter. AQR Capital Management LLC now owns 1,883,708 shares of the company's stock valued at $85,502,000 after buying an additional 576,438 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Pilgrim's Pride by 26.8% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,845,480 shares of the company's stock valued at $83,766,000 after buying an additional 389,967 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Pilgrim's Pride by 15.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,377,236 shares of the company's stock valued at $62,513,000 after buying an additional 180,164 shares during the last quarter. Institutional investors and hedge funds own 16.64% of the company's stock.
About Pilgrim's Pride
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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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