KLP Kapitalforvaltning AS Invests $440,000 in Pilgrim's Pride Co. (NASDAQ:PPC)

KLP Kapitalforvaltning AS bought a new stake in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 9,700 shares of the company's stock, valued at approximately $440,000.

Other institutional investors have also bought and sold shares of the company. Ruffer LLP purchased a new stake in shares of Pilgrim's Pride during the fourth quarter valued at approximately $8,381,000. Advisors Preferred LLC bought a new stake in shares of Pilgrim's Pride during the 4th quarter worth $8,601,000. Zacks Investment Management purchased a new position in shares of Pilgrim's Pride in the 3rd quarter worth about $4,989,000. Empowered Funds LLC bought a new position in Pilgrim's Pride during the fourth quarter valued at about $3,317,000. Finally, Moran Wealth Management LLC increased its holdings in Pilgrim's Pride by 1,259.1% during the fourth quarter. Moran Wealth Management LLC now owns 72,765 shares of the company's stock worth $3,303,000 after buying an additional 67,411 shares during the last quarter. Institutional investors own 16.64% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. 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. Santander initiated coverage on Pilgrim's Pride in a research note on Wednesday, March 5th. They issued a "neutral" rating on the stock. Finally, BMO Capital Markets lifted their price objective on Pilgrim's Pride from $47.00 to $48.00 and gave the stock a "market perform" rating in a report on Monday, March 17th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Pilgrim's Pride presently has a consensus rating of "Hold" and an average target price of $46.33.

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Pilgrim's Pride Price Performance

Shares of PPC stock traded up $1.29 during trading hours on Wednesday, reaching $50.37. The stock had a trading volume of 1,592,767 shares, compared to its average volume of 1,105,519. The stock's fifty day simple moving average is $51.88 and its 200 day simple moving average is $49.20. The company has a current ratio of 2.01, a quick ratio of 1.31 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $11.94 billion, a PE ratio of 11.05 and a beta of 0.63. Pilgrim's Pride Co. has a 12 month low of $33.67 and a 12 month high of $57.16.

Pilgrim's Pride Increases Dividend

The firm 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. This is a positive change from Pilgrim's Pride's previous special dividend of $2.75. The ex-dividend date is Thursday, April 3rd.

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.