State of Alaska Department of Revenue Lowers Stock Holdings in Pilgrim’s Pride Co. (NASDAQ:PPC)

State of Alaska Department of Revenue reduced its stake in Pilgrim’s Pride Co. (NASDAQ:PPC) by 0.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,193 shares of the company’s stock after selling 270 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Pilgrim’s Pride worth $5,999,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PPC. Harbor Capital Advisors Inc. bought a new position in shares of Pilgrim’s Pride in the third quarter worth approximately $27,000. ORG Wealth Partners LLC purchased a new position in Pilgrim’s Pride in the 3rd quarter worth approximately $29,000. Raleigh Capital Management Inc. bought a new position in Pilgrim’s Pride in the 3rd quarter valued at approximately $34,000. Quarry LP boosted its stake in Pilgrim’s Pride by 295.8% during the 3rd quarter. Quarry LP now owns 946 shares of the company’s stock valued at $44,000 after purchasing an additional 707 shares during the last quarter. Finally, R Squared Ltd bought a new stake in shares of Pilgrim’s Pride in the 4th quarter worth $59,000. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Up 4.9 %

Pilgrim’s Pride stock opened at $51.05 on Friday. The stock has a market cap of $12.10 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 0.20 and a beta of 0.82. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.27 and a current ratio of 1.95. The stock has a fifty day moving average of $47.36 and a 200 day moving average of $46.43. Pilgrim’s Pride Co. has a one year low of $27.01 and a one year high of $55.50.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PPC shares. Barclays upped their price target on Pilgrim’s Pride from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. BMO Capital Markets upped their target price on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Five 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. According to data from MarketBeat.com, Pilgrim’s Pride currently has an average rating of “Hold” and an average target price of $45.50.

Pilgrim’s Pride Company 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.