Bryce Point Capital LLC Invests $469,000 in Pilgrim's Pride Co. (NASDAQ:PPC)

Bryce Point Capital LLC acquired a new position in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,336 shares of the company's stock, valued at approximately $469,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC lifted its holdings in shares of Pilgrim's Pride by 3.7% during the third quarter. Janus Henderson Group PLC now owns 21,860 shares of the company's stock worth $1,007,000 after purchasing an additional 780 shares during the period. 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 buying an additional 707 shares during the period. Wellington Management Group LLP grew its position in Pilgrim's Pride by 8.0% in the 3rd quarter. Wellington Management Group LLP now owns 36,083 shares of the company's stock valued at $1,662,000 after purchasing an additional 2,682 shares during the period. Kovitz Investment Group Partners LLC raised its holdings in shares of Pilgrim's Pride by 1.0% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 61,311 shares of the company's stock worth $2,820,000 after acquiring an additional 598 shares during the last quarter. Finally, Zacks Investment Management bought a new position in shares of Pilgrim's Pride in the third quarter valued at approximately $4,989,000. 16.64% of the stock is owned by institutional investors.

Pilgrim's Pride Price Performance

Shares of NASDAQ PPC traded up $0.75 during midday trading on Thursday, reaching $51.12. The stock had a trading volume of 320,141 shares, compared to its average volume of 1,102,532. The stock has a 50-day moving average of $51.88 and a 200-day moving average of $49.20. Pilgrim's Pride Co. has a 12-month low of $33.67 and a 12-month high of $57.16. The company has a market capitalization of $12.12 billion, a price-to-earnings ratio of 11.18 and a beta of 0.63. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01.

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Pilgrim's Pride Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PPC. StockNews.com lowered shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 2nd. BMO Capital Markets upped their target price on Pilgrim's Pride from $47.00 to $48.00 and gave the stock a "market perform" rating in a research note on Monday, March 17th. Finally, Santander assumed coverage on Pilgrim's Pride in a research note on Wednesday, March 5th. They issued a "neutral" rating on the stock. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $46.33.

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.