Navellier & Associates Inc. Raises Stock Holdings in Pilgrim’s Pride Co. (NASDAQ:PPC)

Navellier & Associates Inc. boosted its holdings in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 64.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 26,310 shares of the company’s stock after purchasing an additional 10,306 shares during the period. Navellier & Associates Inc.’s holdings in Pilgrim’s Pride were worth $1,194,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Convergence Investment Partners LLC boosted its position in Pilgrim’s Pride by 42.0% during the fourth quarter. Convergence Investment Partners LLC now owns 42,029 shares of the company’s stock worth $1,908,000 after purchasing an additional 12,422 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Pilgrim’s Pride by 10.3% in the fourth quarter. New York State Common Retirement Fund now owns 17,734 shares of the company’s stock valued at $805,000 after acquiring an additional 1,662 shares in the last quarter. Bfsg LLC purchased a new position in shares of Pilgrim’s Pride in the fourth quarter valued at approximately $691,000. Kestra Investment Management LLC lifted its position in shares of Pilgrim’s Pride by 102.8% in the fourth quarter. Kestra Investment Management LLC now owns 20,866 shares of the company’s stock valued at $947,000 after acquiring an additional 10,578 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Pilgrim’s Pride by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 7,207 shares of the company’s stock valued at $327,000 after acquiring an additional 371 shares in the last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. BMO Capital Markets raised their target price on 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. StockNews.com upgraded Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Barclays raised their target price on Pilgrim’s Pride from $45.00 to $49.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Five research 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, the stock currently has an average rating of “Hold” and a consensus price target of $45.50.

Pilgrim’s Pride Stock Performance

Shares of Pilgrim’s Pride stock opened at $53.13 on Friday. Pilgrim’s Pride Co. has a one year low of $28.49 and a one year high of $57.16. The company has a market cap of $12.60 billion, a price-to-earnings ratio of 11.65 and a beta of 0.82. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01. The business’s 50 day moving average price is $47.80 and its 200 day moving average price is $47.23.

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.