Illinois Municipal Retirement Fund increased its stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC – Free Report) by 30.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 58,289 shares of the company’s stock after acquiring an additional 13,459 shares during the period. Illinois Municipal Retirement Fund’s holdings in Pilgrim’s Pride were worth $2,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new position in shares of Pilgrim’s Pride during the third quarter valued at $27,000. Quarry LP lifted its position in Pilgrim’s Pride by 295.8% in the 3rd quarter. Quarry LP now owns 946 shares of the company’s stock valued at $44,000 after purchasing an additional 707 shares during the last quarter. R Squared Ltd acquired a new position in Pilgrim’s Pride during the 4th quarter valued at about $59,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Pilgrim’s Pride in the 4th quarter worth about $118,000. Finally, GAMMA Investing LLC increased its stake in shares of Pilgrim’s Pride by 31.9% in the fourth quarter. GAMMA Investing LLC now owns 2,688 shares of the company’s stock valued at $122,000 after purchasing an additional 650 shares during the period. 16.64% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on PPC shares. StockNews.com upgraded Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 22nd. Barclays lifted their price objective on shares of 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. Finally, BMO Capital Markets increased their target price on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $45.50.
Pilgrim’s Pride Stock Down 0.7 %
Shares of Pilgrim’s Pride stock opened at $53.81 on Friday. The company has a quick ratio of 1.31, a current ratio of 2.01 and a debt-to-equity ratio of 0.75. Pilgrim’s Pride Co. has a 12-month low of $31.31 and a 12-month high of $57.16. The firm has a market capitalization of $12.76 billion, a PE ratio of 11.80 and a beta of 0.82. The stock’s fifty day moving average is $48.17 and its 200-day moving average is $47.48.
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.
Further Reading
- Five stocks we like better than Pilgrim’s Pride
- What does consumer price index measure?
- Volatility Is Back: 3 Stocks To Cushion the S&P 500’s Swings
- Insider Selling Explained: Can it Inform Your Investing Choices?
- 2 Catalysts That Could Push NVIDIA Stock Up 30% This Year
- With Risk Tolerance, One Size Does Not Fit All
- Do GM Stock Buybacks Make the Stock Buyable For Investors?
Want to see what other hedge funds are holding PPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pilgrim’s Pride Co. (NASDAQ:PPC – Free Report).
Receive News & Ratings for Pilgrim's Pride Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pilgrim's Pride and related companies with MarketBeat.com's FREE daily email newsletter.
