Pilgrim’s Pride Co. (NASDAQ:PPC) Shares Sold by Inspire Advisors LLC

Inspire Advisors LLC cut its stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 9.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,468 shares of the company’s stock after selling 561 shares during the period. Inspire Advisors LLC’s holdings in Pilgrim’s Pride were worth $248,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Quarry LP raised its position in Pilgrim’s Pride by 295.8% during the third quarter. Quarry LP now owns 946 shares of the company’s stock worth $44,000 after acquiring an additional 707 shares during the period. R Squared Ltd acquired a new position in Pilgrim’s Pride during the fourth quarter worth $59,000. Harbor Capital Advisors Inc. raised its position in Pilgrim’s Pride by 132.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 1,344 shares of the company’s stock worth $61,000 after acquiring an additional 765 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Pilgrim’s Pride in the fourth quarter valued at about $118,000. Finally, GAMMA Investing LLC raised its position in shares of Pilgrim’s Pride by 31.9% in the fourth quarter. GAMMA Investing LLC now owns 2,688 shares of the company’s stock valued at $122,000 after buying an additional 650 shares during the last quarter. 16.64% of the stock is currently owned by institutional investors and hedge funds.

Pilgrim’s Pride Trading Down 4.2 %

Shares of PPC opened at $51.11 on Thursday. The company has a current ratio of 2.01, a quick ratio of 1.31 and a debt-to-equity ratio of 0.75. Pilgrim’s Pride Co. has a 12-month low of $32.65 and a 12-month high of $57.16. The firm has a 50-day moving average price of $49.60 and a 200 day moving average price of $48.11. The firm has a market capitalization of $12.12 billion, a P/E ratio of 11.21 and a beta of 0.71.

Analysts Set New Price Targets

A number of brokerages have recently commented on PPC. StockNews.com cut shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 2nd. Santander began coverage on shares of Pilgrim’s Pride in a research report on Wednesday, March 5th. They issued a “neutral” rating for the company. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $45.50.

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.