Pilgrim’s Pride (NASDAQ:PPC) Downgraded to Buy Rating by StockNews.com

StockNews.com downgraded shares of Pilgrim’s Pride (NASDAQ:PPC) from a strong-buy rating to a buy rating in a report released on Sunday morning.

Pilgrim’s Pride Stock Performance

Shares of Pilgrim’s Pride stock opened at $53.91 on Friday. The firm’s fifty day simple moving average is $48.51 and its 200-day simple moving average is $47.66. The stock has a market capitalization of $12.78 billion, a price-to-earnings ratio of 11.82 and a beta of 0.82. Pilgrim’s Pride has a 12 month low of $31.73 and a 12 month high of $57.16. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.01 and a quick ratio of 1.31.

Hedge Funds Weigh In On Pilgrim’s Pride

Institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC grew its stake in shares of Pilgrim’s Pride by 4,505.0% during the 3rd quarter. International Assets Investment Management LLC now owns 74,693 shares of the company’s stock worth $3,440,000 after purchasing an additional 73,071 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Pilgrim’s Pride by 97,511.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 33,188 shares of the company’s stock worth $1,528,000 after purchasing an additional 33,154 shares during the period. New York State Teachers Retirement System grew its stake in shares of Pilgrim’s Pride by 12.9% during the 3rd quarter. New York State Teachers Retirement System now owns 20,731 shares of the company’s stock worth $955,000 after purchasing an additional 2,367 shares during the period. US Bancorp DE grew its stake in shares of Pilgrim’s Pride by 193.0% during the 3rd quarter. US Bancorp DE now owns 2,795 shares of the company’s stock worth $129,000 after purchasing an additional 1,841 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in shares of Pilgrim’s Pride by 61.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 29,285 shares of the company’s stock worth $1,349,000 after purchasing an additional 11,167 shares during the period. 16.64% of the stock is owned by institutional investors and hedge funds.

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.