Strategic Financial Concepts LLC Buys New Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

Strategic Financial Concepts LLC purchased a new position in Pilgrim’s Pride Co. (NASDAQ:PPC) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 27,234 shares of the company’s stock, valued at approximately $1,236,000.

Other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings in shares of Pilgrim’s Pride by 1,289.4% during the 3rd quarter. Pacer Advisors Inc. now owns 5,225,216 shares of the company’s stock worth $240,621,000 after acquiring an additional 4,849,147 shares during 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 boosted its holdings in shares of Pilgrim’s Pride by 1.3% in the 3rd 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 in the last quarter. Assetmark Inc. increased its position in shares of Pilgrim’s Pride by 145,879.0% during the 3rd quarter. Assetmark Inc. now owns 827,701 shares of the company’s stock valued at $38,116,000 after purchasing an additional 827,134 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Pilgrim’s Pride by 88.3% during the 3rd 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 in the last quarter. Institutional investors own 16.64% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Barclays upped their target price on Pilgrim’s Pride from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. BMO Capital Markets upped their price objective on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Pilgrim’s Pride currently has an average rating of “Hold” and a consensus target price of $45.50.

Pilgrim’s Pride Stock Up 0.9 %

Shares of Pilgrim’s Pride stock opened at $51.50 on Tuesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.27 and a current ratio of 1.95. Pilgrim’s Pride Co. has a 52-week low of $27.31 and a 52-week high of $55.50. The company’s 50 day moving average price is $47.36 and its 200-day moving average price is $46.60. The stock has a market capitalization of $12.21 billion, a price-to-earnings ratio of 12.44, a P/E/G ratio of 0.20 and a beta of 0.82.

Pilgrim’s Pride Company 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.