Kestra Investment Management LLC Has $947,000 Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

Kestra Investment Management LLC grew its holdings in Pilgrim’s Pride Co. (NASDAQ:PPC) by 102.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,866 shares of the company’s stock after purchasing an additional 10,578 shares during the quarter. Kestra Investment Management LLC’s holdings in Pilgrim’s Pride were worth $947,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in PPC. CWM LLC grew its position in shares of Pilgrim’s Pride by 19.1% in the third quarter. CWM LLC now owns 2,086 shares of the company’s stock valued at $96,000 after purchasing an additional 334 shares during the last quarter. Blue Trust Inc. grew its position in Pilgrim’s Pride by 34.8% during the third quarter. Blue Trust Inc. now owns 3,197 shares of the company’s stock worth $147,000 after buying an additional 825 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Pilgrim’s Pride by 88.3% during 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. Castleview Partners LLC acquired a new stake in Pilgrim’s Pride during the third quarter worth about $86,000. Finally, Raleigh Capital Management Inc. acquired a new stake in Pilgrim’s Pride during the third quarter worth about $34,000. 16.64% of the stock is owned by institutional investors and hedge funds.

Pilgrim’s Pride Stock Down 3.2 %

NASDAQ PPC opened at $52.15 on Wednesday. The company has a current ratio of 1.95, a quick ratio of 1.27 and a debt-to-equity ratio of 0.75. The stock’s 50 day moving average is $47.63 and its two-hundred day moving average is $47.06. The company has a market capitalization of $12.37 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 0.20 and a beta of 0.82. Pilgrim’s Pride Co. has a 1-year low of $28.29 and a 1-year high of $57.16.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Barclays lifted their target price on Pilgrim’s Pride from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. StockNews.com downgraded Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Finally, BMO Capital Markets lifted their target price on Pilgrim’s Pride from $42.00 to $43.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.