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) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 10,821 shares of the company’s stock, valued at approximately $491,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new stake in Pilgrim’s Pride during the 3rd quarter worth $27,000. Quarry LP boosted its position in Pilgrim’s Pride by 295.8% during the 3rd 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 purchased a new stake in Pilgrim’s Pride during the 4th quarter worth $59,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Pilgrim’s Pride in the 4th quarter valued at about $118,000. Finally, GAMMA Investing LLC boosted its position 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 buying an additional 650 shares during the last quarter. 16.64% of the stock is owned by hedge funds and other institutional investors.

Pilgrim’s Pride Stock Performance

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

Analyst Upgrades and Downgrades

Separately, 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. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company 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.