CIBC Asset Management Inc Buys 371 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

CIBC Asset Management Inc lifted its holdings in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 5.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,207 shares of the company’s stock after purchasing an additional 371 shares during the period. CIBC Asset Management Inc’s holdings in Pilgrim’s Pride were worth $327,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. lifted its stake in shares of Pilgrim’s Pride by 1,289.4% in the third 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 position in 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 acquiring an additional 1,310,530 shares in the last quarter. Assetmark Inc. boosted its stake in Pilgrim’s Pride by 145,879.0% during the 3rd quarter. Assetmark Inc. now owns 827,701 shares of the company’s stock valued at $38,116,000 after purchasing an additional 827,134 shares during the last quarter. Advisors Preferred LLC bought a new stake in Pilgrim’s Pride during the 4th quarter worth approximately $8,601,000. Finally, United Capital Management of KS Inc. purchased a new stake in shares of Pilgrim’s Pride in the third quarter worth approximately $6,277,000. 16.64% of the stock is currently owned by institutional investors.

Pilgrim’s Pride Trading Up 2.5 %

NASDAQ:PPC opened at $53.13 on Monday. The firm has a market capitalization of $12.60 billion, a P/E ratio of 11.65 and a beta of 0.82. Pilgrim’s Pride Co. has a 52 week low of $28.49 and a 52 week high of $57.16. The company has a quick ratio of 1.31, a current ratio of 2.01 and a debt-to-equity ratio of 0.75. The company has a fifty day moving average of $47.80 and a 200 day moving average of $47.25.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Barclays raised their price target on shares of Pilgrim’s Pride from $45.00 to $49.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. BMO Capital Markets lifted their target price on shares of 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. Finally, StockNews.com raised Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Five investment 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’s stock. According to data from MarketBeat, the company currently has a consensus 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.