Pilgrim’s Pride Co. (NASDAQ:PPC) Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its position in Pilgrim’s Pride Co. (NASDAQ:PPC) by 30.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,289 shares of the company’s stock after purchasing an additional 13,459 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Pilgrim’s Pride were worth $2,646,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new position in Pilgrim’s Pride during the third quarter valued at approximately $27,000. Quarry LP raised its stake in shares of Pilgrim’s Pride by 295.8% in the 3rd quarter. Quarry LP now owns 946 shares of the company’s stock valued at $44,000 after acquiring an additional 707 shares during the period. R Squared Ltd acquired a new position in shares of Pilgrim’s Pride during the 4th quarter valued at $59,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Pilgrim’s Pride during the 4th quarter worth $118,000. Finally, GAMMA Investing LLC increased its holdings in Pilgrim’s Pride by 31.9% in the 4th quarter. GAMMA Investing LLC now owns 2,688 shares of the company’s stock valued at $122,000 after purchasing an additional 650 shares in the last quarter. 16.64% of the stock is owned by institutional investors and hedge funds.

Pilgrim’s Pride Trading Down 0.7 %

Shares of PPC opened at $53.81 on Friday. Pilgrim’s Pride Co. has a one year low of $31.31 and a one year high of $57.16. The stock has a 50-day moving average price of $48.17 and a 200 day moving average price of $47.48. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01. The company has a market capitalization of $12.76 billion, a P/E ratio of 11.80 and a beta of 0.82.

Analysts Set New Price Targets

A number of research analysts have commented on PPC shares. BMO Capital Markets boosted their price objective on 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. StockNews.com raised Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 22nd. Finally, Barclays increased their price objective 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. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $45.50.

About Pilgrim’s Pride

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.