Pilgrim’s Pride (NASDAQ:PPC) Cut to “Buy” at StockNews.com

Pilgrim’s Pride (NASDAQ:PPC) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Sunday.

Pilgrim’s Pride Trading Up 0.7 %

NASDAQ:PPC opened at $54.76 on Friday. The stock has a market cap of $12.98 billion, a price-to-earnings ratio of 12.01 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. Pilgrim’s Pride has a 1 year low of $31.60 and a 1 year high of $57.16. The business has a fifty day moving average of $48.51 and a 200-day moving average of $47.66.

Hedge Funds Weigh In On Pilgrim’s Pride

Several large investors have recently bought and sold shares of PPC. Franklin Resources Inc. boosted its holdings in shares of Pilgrim’s Pride by 325.8% in the third quarter. Franklin Resources Inc. now owns 55,071 shares of the company’s stock valued at $2,485,000 after acquiring an additional 42,136 shares in the last quarter. Sigma Planning Corp lifted its position in Pilgrim’s Pride by 73.9% in the fourth quarter. Sigma Planning Corp now owns 28,587 shares of the company’s stock worth $1,298,000 after purchasing an additional 12,149 shares during the period. Illinois Municipal Retirement Fund boosted its stake in Pilgrim’s Pride by 30.0% during the 4th quarter. Illinois Municipal Retirement Fund now owns 58,289 shares of the company’s stock valued at $2,646,000 after purchasing an additional 13,459 shares in the last quarter. World Investment Advisors LLC bought a new stake in shares of Pilgrim’s Pride in the 3rd quarter worth $808,000. Finally, Exchange Traded Concepts LLC raised its stake in shares of Pilgrim’s Pride by 8.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 113,549 shares of the company’s stock worth $5,154,000 after buying an additional 9,035 shares in the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

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.