State of Alaska Department of Revenue Sells 270 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

State of Alaska Department of Revenue reduced its stake in Pilgrim’s Pride Co. (NASDAQ:PPC) by 0.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 132,193 shares of the company’s stock after selling 270 shares during the quarter. State of Alaska Department of Revenue’s holdings in Pilgrim’s Pride were worth $5,999,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new stake in Pilgrim’s Pride in the third quarter worth about $27,000. ORG Wealth Partners LLC bought a new position in shares of Pilgrim’s Pride during the 3rd quarter valued at approximately $29,000. Raleigh Capital Management Inc. purchased a new stake in Pilgrim’s Pride in the 3rd quarter worth approximately $34,000. Quarry LP raised its stake 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 acquiring an additional 707 shares during the period. Finally, R Squared Ltd purchased a new position in Pilgrim’s Pride during the fourth quarter valued at approximately $59,000. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PPC. BMO Capital Markets increased their price objective 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. 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. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $45.50.

Pilgrim’s Pride Price Performance

PPC stock opened at $51.05 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.27 and a current ratio of 1.95. The company’s fifty day moving average price is $47.36 and its 200-day moving average price is $46.43. Pilgrim’s Pride Co. has a one year low of $27.01 and a one year high of $55.50. The company has a market capitalization of $12.10 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 0.20 and a beta of 0.82.

Pilgrim’s Pride Company 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.