Y Intercept Hong Kong Ltd Purchases Shares of 6,426 Pilgrim's Pride Co. (NASDAQ:PPC)

Y Intercept Hong Kong Ltd bought a new stake in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,426 shares of the company's stock, valued at approximately $292,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. raised its holdings in Pilgrim's Pride by 1,289.4% in the third 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 in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Pilgrim's Pride by 903.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,455,513 shares of the company's stock worth $67,026,000 after acquiring an additional 1,310,530 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Pilgrim's Pride by 1.3% during the third quarter. Geode Capital Management LLC now owns 881,900 shares of the company's stock valued at $40,620,000 after acquiring an additional 11,128 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Pilgrim's Pride by 145,879.0% during the third quarter. Assetmark Inc. now owns 827,701 shares of the company's stock valued at $38,116,000 after acquiring an additional 827,134 shares in the last quarter. Finally, Martingale Asset Management L P increased its holdings 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 valued at $10,967,000 after acquiring an additional 45,172 shares in the last quarter. Institutional investors own 16.64% of the company's stock.

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Analyst Ratings Changes

Separately, StockNews.com downgraded Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 2nd. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Pilgrim's Pride has a consensus rating of "Hold" and a consensus target price of $45.50.

Pilgrim's Pride Stock Performance

NASDAQ PPC traded up $2.02 during trading hours on Friday, hitting $54.62. The company's stock had a trading volume of 1,131,166 shares, compared to its average volume of 1,134,911. Pilgrim's Pride Co. has a 12 month low of $32.06 and a 12 month high of $57.16. The company's 50 day simple moving average is $48.94 and its two-hundred day simple moving average is $47.81. The company has a market cap of $12.95 billion, a P/E ratio of 11.98 and a beta of 0.82. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.01 and a quick ratio of 1.31.

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.