9,309 Shares in Pilgrim's Pride Co. (NASDAQ:PPC) Bought by Advisory Services Network LLC

Advisory Services Network LLC bought a new position in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,309 shares of the company's stock, valued at approximately $423,000.

Several other hedge funds have also recently bought and sold shares of PPC. Abacus FCF Advisors LLC grew its stake in shares of Pilgrim's Pride by 50.8% in the fourth quarter. Abacus FCF Advisors LLC now owns 43,026 shares of the company's stock valued at $1,953,000 after buying an additional 14,502 shares in the last quarter. Bank of Nova Scotia purchased a new position in Pilgrim's Pride in the 4th quarter worth approximately $306,000. Invesco Ltd. grew its position in Pilgrim's Pride by 11.9% in the fourth quarter. Invesco Ltd. now owns 1,125,329 shares of the company's stock valued at $51,079,000 after acquiring an additional 119,555 shares in the last quarter. Polymer Capital Management US LLC purchased a new stake in shares of Pilgrim's Pride during the fourth quarter valued at approximately $231,000. Finally, Trek Financial LLC purchased a new stake in shares of Pilgrim's Pride during the fourth quarter valued at approximately $331,000. Hedge funds and other institutional investors own 16.64% of the company's stock.

Pilgrim's Pride Stock Up 1.3 %

Shares of PPC stock traded up $0.67 during trading hours on Friday, hitting $54.01. 879,853 shares of the company were exchanged, compared to its average volume of 1,124,983. The stock has a market capitalization of $12.82 billion, a price-to-earnings ratio of 11.84 and a beta of 0.63. Pilgrim's Pride Co. has a one year low of $33.67 and a one year high of $57.16. The business's 50-day simple moving average is $52.39 and its two-hundred day simple moving average is $49.59. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01.

Pilgrim's Pride Increases Dividend

The company also recently disclosed a special dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be paid a dividend of $6.30 per share. The ex-dividend date is Thursday, April 3rd. This is a boost from Pilgrim's Pride's previous special dividend of $2.75.

Analysts Set New Price Targets

A number of research firms recently weighed in on PPC. BMO Capital Markets raised their price target on shares of Pilgrim's Pride from $47.00 to $48.00 and gave the company a "market perform" rating in a report on Monday, March 17th. Santander assumed coverage on Pilgrim's Pride in a research note on Wednesday, March 5th. They issued a "neutral" rating on the stock. Finally, StockNews.com lowered Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 2nd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $48.40.

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.