Moran Wealth Management LLC Buys 67,411 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Moran Wealth Management LLC boosted its stake in Pilgrim’s Pride Co. (NASDAQ:PPC) by 1,259.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,765 shares of the company’s stock after purchasing an additional 67,411 shares during the period. Moran Wealth Management LLC’s holdings in Pilgrim’s Pride were worth $3,303,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PPC. US Bancorp DE lifted its stake in Pilgrim’s Pride by 193.0% in the 3rd quarter. US Bancorp DE now owns 2,795 shares of the company’s stock valued at $129,000 after purchasing an additional 1,841 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Pilgrim’s Pride by 61.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 29,285 shares of the company’s stock valued at $1,349,000 after acquiring an additional 11,167 shares during the period. Sigma Planning Corp acquired a new position in Pilgrim’s Pride in the 3rd quarter valued at approximately $757,000. United Capital Management of KS Inc. acquired a new position in Pilgrim’s Pride in the 3rd quarter valued at approximately $6,277,000. Finally, Entropy Technologies LP acquired a new position in Pilgrim’s Pride in the 3rd quarter valued at approximately $588,000. Institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Trading Up 2.4 %

PPC opened at $55.93 on Tuesday. Pilgrim’s Pride Co. has a twelve month low of $32.42 and a twelve month high of $57.16. The company has a quick ratio of 1.31, a current ratio of 2.01 and a debt-to-equity ratio of 0.75. The company has a fifty day moving average of $49.33 and a 200-day moving average of $48.03. The stock has a market cap of $13.26 billion, a PE ratio of 12.27 and a beta of 0.71.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PPC shares. 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 started coverage on shares of Pilgrim’s Pride in a research report on Wednesday, March 5th. They issued a “neutral” rating for the company. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.