Strategic Financial Concepts LLC Makes New $1.24 Million Investment in Pilgrim’s Pride Co. (NASDAQ:PPC)

Strategic Financial Concepts LLC acquired a new position in Pilgrim’s Pride Co. (NASDAQ:PPC) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 27,234 shares of the company’s stock, valued at approximately $1,236,000.

Several other hedge funds have also recently made changes to their positions in the business. Pacer Advisors Inc. boosted its holdings in Pilgrim’s Pride by 1,289.4% in the third quarter. Pacer Advisors Inc. now owns 5,225,216 shares of the company’s stock valued at $240,621,000 after acquiring an additional 4,849,147 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Pilgrim’s Pride by 903.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,455,513 shares of the company’s stock worth $67,026,000 after purchasing an additional 1,310,530 shares during the period. Geode Capital Management LLC boosted its stake in shares of Pilgrim’s Pride by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 881,900 shares of the company’s stock valued at $40,620,000 after purchasing an additional 11,128 shares in the last quarter. Assetmark Inc. increased its position in shares of Pilgrim’s Pride by 145,879.0% during the third quarter. Assetmark Inc. now owns 827,701 shares of the company’s stock valued at $38,116,000 after buying an additional 827,134 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in Pilgrim’s Pride by 88.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 433,891 shares of the company’s stock worth $19,981,000 after buying an additional 203,408 shares in the last quarter. 16.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on PPC shares. BMO Capital Markets lifted their price objective 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. Barclays lifted their price target 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 assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $45.50.

Pilgrim’s Pride Stock Performance

Shares of PPC opened at $51.50 on Tuesday. Pilgrim’s Pride Co. has a 52 week low of $27.31 and a 52 week high of $55.50. The company has a quick ratio of 1.27, a current ratio of 1.95 and a debt-to-equity ratio of 0.75. The stock has a market cap of $12.21 billion, a P/E ratio of 12.44, a P/E/G ratio of 0.20 and a beta of 0.82. The business’s 50 day moving average price is $47.36 and its 200-day moving average price is $46.60.

Pilgrim’s Pride 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.