Norges Bank bought a new stake in Pilgrim’s Pride Corporation (NASDAQ:PPC – Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 391,753 shares of the company’s stock, valued at approximately $15,274,000. Norges Bank owned about 0.16% of Pilgrim’s Pride at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Torren Management LLC acquired a new position in Pilgrim’s Pride in the fourth quarter valued at about $31,000. Kingdom Financial Group LLC. acquired a new position in Pilgrim’s Pride in the fourth quarter valued at about $37,000. Clearstead Advisors LLC lifted its position in Pilgrim’s Pride by 1,522.6% in the third quarter. Clearstead Advisors LLC now owns 1,006 shares of the company’s stock valued at $41,000 after buying an additional 944 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new position in Pilgrim’s Pride in the third quarter valued at about $41,000. Finally, Signaturefd LLC lifted its position in Pilgrim’s Pride by 23.5% in the fourth quarter. Signaturefd LLC now owns 1,350 shares of the company’s stock valued at $53,000 after buying an additional 257 shares during the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.
Pilgrim’s Pride Stock Up 1.9%
Shares of NASDAQ:PPC opened at $29.74 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.48 and a quick ratio of 0.73. The firm has a market capitalization of $7.08 billion, a PE ratio of 7.97 and a beta of 0.28. The firm’s 50-day moving average is $31.73 and its two-hundred day moving average is $37.09. Pilgrim’s Pride Corporation has a 1 year low of $27.13 and a 1 year high of $50.56.
Analyst Ratings Changes
PPC has been the topic of a number of recent analyst reports. The Goldman Sachs Group decreased their target price on shares of Pilgrim’s Pride from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. BMO Capital Markets decreased their target price on shares of Pilgrim’s Pride from $42.00 to $40.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 25th. UBS Group initiated coverage on shares of Pilgrim’s Pride in a research report on Tuesday, May 19th. They issued a “neutral” rating and a $30.00 target price on the stock. Wall Street Zen cut shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research report on Sunday, February 15th. Finally, Stephens set a $40.00 target price on shares of Pilgrim’s Pride in a research report on Wednesday, April 15th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Pilgrim’s Pride has an average rating of “Hold” and a consensus price target of $38.20.
Read Our Latest Report on Pilgrim’s Pride
Pilgrim’s Pride Profile
Pilgrim’s Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim’s Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.
The company’s vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.
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