Koch Industries Inc. acquired a new position in shares of Pilgrim's Pride Co. (NASDAQ:PPC) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 14,148 shares of the company’s stock, valued at approximately $439,000.
Several other institutional investors and hedge funds also recently modified their holdings of PPC. State of Alaska Department of Revenue bought a new stake in Pilgrim's Pride in the fourth quarter worth approximately $120,000. New York State Teachers Retirement System bought a new stake in Pilgrim's Pride in the third quarter worth approximately $134,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in Pilgrim's Pride by 57.1% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,882 shares of the company’s stock worth $167,000 after purchasing an additional 2,139 shares in the last quarter. CIBC Asset Management Inc bought a new stake in Pilgrim's Pride in the third quarter worth approximately $237,000. Finally, FCA Corp TX bought a new stake in Pilgrim's Pride in the third quarter worth approximately $244,000. Institutional investors own 24.60% of the company’s stock.
A number of equities research analysts have weighed in on PPC shares. Zacks Investment Research downgraded Pilgrim's Pride from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 4th. Morgan Stanley set a $25.00 target price on Pilgrim's Pride and gave the stock a “hold” rating in a report on Tuesday, February 27th. BidaskClub downgraded Pilgrim's Pride from a “hold” rating to a “sell” rating in a report on Friday, January 5th. ValuEngine downgraded Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a report on Friday, December 15th. Finally, Jefferies Group set a $32.00 target price on Pilgrim's Pride and gave the stock a “hold” rating in a report on Thursday, November 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $29.00.
Shares of Pilgrim's Pride Co. (NASDAQ PPC) opened at $24.75 on Friday. The company has a market capitalization of $6,156.64, a P/E ratio of 8.59 and a beta of 0.16. Pilgrim's Pride Co. has a 1-year low of $20.28 and a 1-year high of $38.39. The company has a current ratio of 1.73, a quick ratio of 0.87 and a debt-to-equity ratio of 1.42.
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Pilgrim's Pride Company Profile
Pilgrim’s Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.
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