LGT Fund Management Co Ltd. Takes Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

LGT Fund Management Co Ltd. purchased a new position in Pilgrim’s Pride Co. (NASDAQ:PPC) during the fourth quarter, Holdings Channel.com reports. The firm purchased 50,703 shares of the company’s stock, valued at approximately $2,301,000.

A number of other hedge funds have also modified their holdings of PPC. Nisa Investment Advisors LLC increased its stake in shares of Pilgrim’s Pride by 97,511.8% in the third quarter. Nisa Investment Advisors LLC now owns 33,188 shares of the company’s stock worth $1,528,000 after acquiring an additional 33,154 shares during the last quarter. New York State Teachers Retirement System increased its position in Pilgrim’s Pride by 12.9% during the third quarter. New York State Teachers Retirement System now owns 20,731 shares of the company’s stock worth $955,000 after buying an additional 2,367 shares during the last quarter. US Bancorp DE increased its position in Pilgrim’s Pride by 193.0% during the third quarter. US Bancorp DE now owns 2,795 shares of the company’s stock worth $129,000 after buying an additional 1,841 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Pilgrim’s Pride by 61.6% during the third quarter. Janney Montgomery Scott LLC now owns 29,285 shares of the company’s stock worth $1,349,000 after buying an additional 11,167 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in Pilgrim’s Pride during the third quarter worth $27,000. 16.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $45.50.

Pilgrim’s Pride Trading Up 0.7 %

Shares of NASDAQ:PPC opened at $54.76 on Tuesday. The company has a market cap of $12.98 billion, a P/E ratio of 12.01 and a beta of 0.82. The stock’s 50-day moving average is $48.51 and its 200-day moving average is $47.66. Pilgrim’s Pride Co. has a 52-week low of $31.60 and a 52-week high of $57.16. 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 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.