Strategic Financial Concepts LLC Purchases New Shares in Pilgrim's Pride Co. (NASDAQ:PPC)

Strategic Financial Concepts LLC purchased a new position in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 27,234 shares of the company's stock, valued at approximately $1,236,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. grew its position in shares of Pilgrim's Pride by 1,289.4% during the third quarter. Pacer Advisors Inc. now owns 5,225,216 shares of the company's stock worth $240,621,000 after buying an additional 4,849,147 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Pilgrim's Pride by 903.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,455,513 shares of the company's stock worth $67,026,000 after purchasing an additional 1,310,530 shares during the last quarter. Geode Capital Management LLC lifted its stake in Pilgrim's Pride by 1.3% during the third quarter. Geode Capital Management LLC now owns 881,900 shares of the company's stock worth $40,620,000 after purchasing an additional 11,128 shares during the last quarter. Assetmark Inc. lifted its stake in Pilgrim's Pride by 145,879.0% during the third 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, Allspring Global Investments Holdings LLC lifted its stake in 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 worth $19,981,000 after purchasing an additional 203,408 shares during the last quarter. Institutional investors and hedge funds own 16.64% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on PPC. BMO Capital Markets boosted their target price on 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. StockNews.com cut Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research note on Friday. Finally, Barclays boosted their price objective on Pilgrim's Pride from $45.00 to $49.00 and gave the company an "equal weight" rating in a research note on Friday, November 1st. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $45.50.

Pilgrim's Pride Price Performance

Shares of PPC traded up $1.83 during mid-day trading on Friday, reaching $53.88. The company had a trading volume of 2,882,145 shares, compared to its average volume of 1,120,638. Pilgrim's Pride Co. has a twelve month low of $27.99 and a twelve month high of $57.16. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.95 and a quick ratio of 1.27. The company's 50-day moving average is $47.45 and its 200-day moving average is $46.83. The company has a market capitalization of $12.78 billion, a P/E ratio of 13.01, a P/E/G ratio of 0.20 and a beta of 0.82.

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.