Assetmark Inc. Purchases 21,575 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Assetmark Inc. lifted its position in Pilgrim’s Pride Co. (NASDAQ:PPC) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 849,276 shares of the company’s stock after buying an additional 21,575 shares during the quarter. Assetmark Inc.’s holdings in Pilgrim’s Pride were worth $38,549,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PPC. Harbor Capital Advisors Inc. bought a new position in Pilgrim’s Pride during the third quarter worth $27,000. Quarry LP boosted 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 purchasing an additional 707 shares during the period. R Squared Ltd bought a new position in Pilgrim’s Pride during the fourth quarter worth $59,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Pilgrim’s Pride during the fourth quarter worth $118,000. Finally, GAMMA Investing LLC boosted its position in Pilgrim’s Pride by 31.9% during the fourth quarter. GAMMA Investing LLC now owns 2,688 shares of the company’s stock worth $122,000 after purchasing an additional 650 shares during the period. 16.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.50.

Pilgrim’s Pride Trading Down 1.0 %

Shares of Pilgrim’s Pride stock opened at $53.38 on Thursday. The firm has a 50-day moving average of $48.66 and a 200-day moving average of $47.74. The stock has a market cap of $12.66 billion, a PE ratio of 11.71 and a beta of 0.82. Pilgrim’s Pride Co. has a 52-week low of $31.73 and a 52-week high of $57.16. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01.

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.