Pilgrim’s Pride Co. (NASDAQ:PPC) Stake Increased by Kestra Investment Management LLC

Kestra Investment Management LLC grew its holdings in Pilgrim’s Pride Co. (NASDAQ:PPC) by 102.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,866 shares of the company’s stock after purchasing an additional 10,578 shares during the period. Kestra Investment Management LLC’s holdings in Pilgrim’s Pride were worth $947,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PPC. Harbor Capital Advisors Inc. purchased a new stake in shares of Pilgrim’s Pride in the third quarter valued at $27,000. Raleigh Capital Management Inc. purchased a new stake in shares of Pilgrim’s Pride in the third quarter valued at $34,000. Quarry LP lifted its holdings in shares of Pilgrim’s Pride by 295.8% in the third quarter. Quarry LP now owns 946 shares of the company’s stock valued at $44,000 after purchasing an additional 707 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Pilgrim’s Pride in the fourth quarter valued at $59,000. Finally, Castleview Partners LLC purchased a new stake in shares of Pilgrim’s Pride in the third quarter valued at $86,000. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Price Performance

NASDAQ PPC opened at $52.15 on Wednesday. Pilgrim’s Pride Co. has a fifty-two week low of $28.29 and a fifty-two week high of $57.16. The stock’s 50-day moving average is $47.63 and its two-hundred day moving average is $47.06. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.95 and a quick ratio of 1.27. The firm has a market cap of $12.37 billion, a P/E ratio of 12.60, a price-to-earnings-growth ratio of 0.20 and a beta of 0.82.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Barclays increased their price objective on Pilgrim’s Pride from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. StockNews.com lowered Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Finally, BMO Capital Markets increased their price objective on Pilgrim’s Pride from $42.00 to $43.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $45.50.

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.