Advisors Preferred LLC Invests $8.60 Million in Pilgrim’s Pride Co. (NASDAQ:PPC)

Advisors Preferred LLC acquired a new position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 182,104 shares of the company’s stock, valued at approximately $8,601,000. Pilgrim’s Pride accounts for approximately 1.4% of Advisors Preferred LLC’s portfolio, making the stock its 18th largest position. Advisors Preferred LLC owned approximately 0.08% of Pilgrim’s Pride as of its most recent SEC filing.

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

Pilgrim’s Pride Stock Up 4.9 %

Shares of NASDAQ:PPC opened at $51.05 on Friday. Pilgrim’s Pride Co. has a 12 month low of $27.01 and a 12 month 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 company’s 50-day moving average price is $47.36 and its two-hundred day moving average price is $46.43. The firm has a market cap of $12.10 billion, a P/E ratio of 12.33, a P/E/G ratio of 0.20 and a beta of 0.82.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PPC. 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. BMO Capital Markets lifted their target price on 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 investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Pilgrim’s Pride currently has an average rating of “Hold” and a consensus 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.