Paragon Capital Management Inc. Takes $1.50 Million Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

Paragon Capital Management Inc. purchased a new position in Pilgrim’s Pride Co. (NASDAQ:PPC) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 33,074 shares of the company’s stock, valued at approximately $1,501,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its holdings 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 acquiring an additional 4,849,147 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings 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 worth $67,026,000 after purchasing an additional 1,310,530 shares during the period. Assetmark Inc. lifted its stake in Pilgrim’s Pride by 145,879.0% in the third 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. Allspring Global Investments Holdings LLC grew its holdings in Pilgrim’s Pride by 88.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 433,891 shares of the company’s stock valued at $19,981,000 after purchasing an additional 203,408 shares during the period. Finally, United Capital Management of KS Inc. purchased a new stake in Pilgrim’s Pride in the third quarter worth $6,277,000. Institutional investors and hedge funds own 16.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Barclays increased their price target on 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. 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 note on Friday, November 1st. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $45.50.

Pilgrim’s Pride Price Performance

PPC stock opened at $47.26 on Wednesday. The firm has a 50 day moving average of $47.46 and a 200-day moving average of $46.33. The company has a current ratio of 1.95, a quick ratio of 1.27 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $11.21 billion, a P/E ratio of 11.42, a price-to-earnings-growth ratio of 0.20 and a beta of 0.82. Pilgrim’s Pride Co. has a 12 month low of $26.52 and a 12 month high of $55.50.

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.