Inceptionr LLC Invests $491,000 in Pilgrim’s Pride Co. (NASDAQ:PPC)

Inceptionr LLC purchased a new position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,821 shares of the company’s stock, valued at approximately $491,000.

Several other institutional investors have also modified their holdings of the company. Vestcor Inc boosted its stake in shares of Pilgrim’s Pride by 1.1% during the 3rd quarter. Vestcor Inc now owns 19,783 shares of the company’s stock worth $911,000 after acquiring an additional 212 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Pilgrim’s Pride by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 6,836 shares of the company’s stock worth $315,000 after acquiring an additional 216 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in shares of Pilgrim’s Pride by 3.2% during the 3rd quarter. Loomis Sayles & Co. L P now owns 13,079 shares of the company’s stock worth $602,000 after acquiring an additional 401 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Pilgrim’s Pride during the 3rd quarter worth approximately $27,000. Finally, Amalgamated Bank raised its position in shares of Pilgrim’s Pride by 3.2% during the 4th quarter. Amalgamated Bank now owns 19,033 shares of the company’s stock worth $864,000 after purchasing an additional 585 shares during the last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Trading Up 3.8 %

Shares of Pilgrim’s Pride stock opened at $54.62 on Friday. The business has a 50 day moving average price of $49.12 and a 200 day moving average price of $47.92. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.01 and a quick ratio of 1.31. The company has a market capitalization of $12.95 billion, a P/E ratio of 11.98 and a beta of 0.71. Pilgrim’s Pride Co. has a 1 year low of $32.06 and a 1 year high of $57.16.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 2nd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.