UBS Asset Management Americas Inc. boosted its holdings in Pilgrim's Pride Co. (NASDAQ:PPC) by 611.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,817 shares of the company’s stock after purchasing an additional 47,967 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in Pilgrim's Pride were worth $1,734,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Ameriprise Financial Inc. lifted its stake in shares of Pilgrim's Pride by 58.9% in the third quarter. Ameriprise Financial Inc. now owns 789,349 shares of the company’s stock worth $22,427,000 after buying an additional 292,700 shares in the last quarter. Sterling Capital Management LLC lifted its position in Pilgrim's Pride by 3.5% during the third quarter. Sterling Capital Management LLC now owns 130,535 shares of the company’s stock valued at $3,708,000 after purchasing an additional 4,400 shares during the period. Alps Advisors Inc. bought a new position in Pilgrim's Pride during the third quarter valued at approximately $461,000. OxFORD Asset Management LLP bought a new position in Pilgrim's Pride during the third quarter valued at approximately $715,000. Finally, Envestnet Asset Management Inc. lifted its position in Pilgrim's Pride by 13,841.8% during the third quarter. Envestnet Asset Management Inc. now owns 34,018 shares of the company’s stock valued at $966,000 after purchasing an additional 33,774 shares during the period. Institutional investors and hedge funds own 25.10% of the company’s stock.
PPC stock opened at $25.17 on Wednesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.73 and a quick ratio of 0.87. Pilgrim's Pride Co. has a 52-week low of $20.28 and a 52-week high of $38.39. The firm has a market cap of $6,450.15, a P/E ratio of 9.00 and a beta of 0.16.
A number of research analysts recently weighed in on the stock. Vertical Group upgraded shares of Pilgrim's Pride from a “hold” rating to a “buy” rating in a research report on Wednesday, March 14th. ValuEngine downgraded shares of Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 15th. BMO Capital Markets lowered their price objective on shares of Pilgrim's Pride to $31.00 and set a “market perform” rating on the stock in a research report on Friday, February 16th. Zacks Investment Research upgraded shares of Pilgrim's Pride from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Thursday, March 15th. Finally, BidaskClub downgraded shares of Pilgrim's Pride from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $28.75.
In other Pilgrim's Pride news, CEO William W. Lovette sold 100,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $25.36, for a total value of $2,536,000.00. Following the transaction, the chief executive officer now directly owns 578,653 shares in the company, valued at $14,674,640.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 78.81% of the stock is currently owned by company insiders.
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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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