Strategic Financial Concepts LLC Acquires Shares of 27,234 Pilgrim's Pride Co. (NASDAQ:PPC)

Strategic Financial Concepts LLC purchased a new position in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 27,234 shares of the company's stock, valued at approximately $1,236,000.

A number of other institutional investors have also recently added to or reduced their stakes in PPC. CWM LLC lifted its holdings in shares of Pilgrim's Pride by 19.1% in the third 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. Blue Trust Inc. lifted its stake in shares of Pilgrim's Pride by 34.8% during the third quarter. Blue Trust Inc. now owns 3,197 shares of the company's stock valued at $147,000 after buying an additional 825 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Pilgrim's Pride by 88.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 433,891 shares of the company's stock valued at $19,981,000 after buying an additional 203,408 shares during the period. Castleview Partners LLC purchased a new position in shares of Pilgrim's Pride during the third quarter valued at approximately $86,000. Finally, Raleigh Capital Management Inc. purchased a new position in shares of Pilgrim's Pride during the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 16.64% of the company's stock.

Pilgrim's Pride Stock Up 2.5 %

Shares of PPC stock traded up $1.29 on Friday, hitting $53.13. The stock had a trading volume of 1,181,114 shares, compared to its average volume of 1,124,842. The firm has a market capitalization of $12.60 billion, a price-to-earnings ratio of 11.65 and a beta of 0.82. The stock's 50 day moving average is $47.73 and its 200-day moving average is $47.14. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01. Pilgrim's Pride Co. has a 52-week low of $28.49 and a 52-week high of $57.16.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PPC shares. Barclays upped their price target on shares of 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 increased 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 research report on Friday, November 1st. Finally, StockNews.com lowered shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target 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.