Pilgrim’s Pride Co. (NASDAQ:PPC) Shares Bought by Convergence Investment Partners LLC

Convergence Investment Partners LLC boosted its position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 42.0% in the 4th quarter, HoldingsChannel reports. The fund owned 42,029 shares of the company’s stock after acquiring an additional 12,422 shares during the period. Convergence Investment Partners LLC’s holdings in Pilgrim’s Pride were worth $1,908,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PPC. Vestcor Inc boosted its holdings in shares of Pilgrim’s Pride by 1.1% in the 3rd quarter. Vestcor Inc now owns 19,783 shares of the company’s stock valued at $911,000 after buying an additional 212 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Pilgrim’s Pride by 3.3% in the 3rd quarter. CIBC Asset Management Inc now owns 6,836 shares of the company’s stock valued at $315,000 after buying an additional 216 shares in the last quarter. CWM LLC boosted its holdings in shares of Pilgrim’s Pride by 19.1% in the 3rd quarter. CWM LLC now owns 2,086 shares of the company’s stock valued at $96,000 after buying an additional 334 shares in the last quarter. Loomis Sayles & Co. L P boosted its holdings in shares of Pilgrim’s Pride by 3.2% in the 3rd quarter. Loomis Sayles & Co. L P now owns 13,079 shares of the company’s stock valued at $602,000 after buying an additional 401 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Pilgrim’s Pride in the 3rd quarter valued at $27,000. Institutional investors and hedge funds own 16.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PPC shares. 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 report on Friday, November 1st. Barclays increased their price target on shares of Pilgrim’s Pride from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Finally, StockNews.com cut shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $45.50.

Pilgrim’s Pride Stock Down 3.2 %

Shares of Pilgrim’s Pride stock opened at $52.15 on Wednesday. The company has a market cap of $12.37 billion, a P/E ratio of 12.60, a PEG 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. Pilgrim’s Pride Co. has a one year low of $28.29 and a one year high of $57.16. The firm has a fifty day moving average of $47.63 and a two-hundred day moving average of $47.06.

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.