Mariner LLC Has $1.47 Million Stake in Pilgrim's Pride Co. (NASDAQ:PPC)

Mariner LLC grew its stake in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 60.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,454 shares of the company's stock after buying an additional 12,244 shares during the period. Mariner LLC's holdings in Pilgrim's Pride were worth $1,473,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Ruffer LLP acquired a new stake in Pilgrim's Pride in the 4th quarter worth approximately $8,381,000. Advisors Preferred LLC acquired a new stake in shares of Pilgrim's Pride in the fourth quarter worth $8,601,000. Arrowstreet Capital Limited Partnership grew its stake in Pilgrim's Pride by 15.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,377,236 shares of the company's stock valued at $62,513,000 after buying an additional 180,164 shares during the last quarter. Norges Bank bought a new position in Pilgrim's Pride in the 4th quarter worth $7,835,000. Finally, Invesco Ltd. lifted its position in Pilgrim's Pride by 11.9% during the 4th quarter. Invesco Ltd. now owns 1,125,329 shares of the company's stock worth $51,079,000 after acquiring an additional 119,555 shares during the last quarter. Institutional investors own 16.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Santander began coverage on shares of Pilgrim's Pride in a report on Wednesday, March 5th. They set a "neutral" rating on the stock. StockNews.com lowered Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 2nd. Finally, BMO Capital Markets lifted their price target on shares of 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. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $48.40.

Pilgrim's Pride Trading Down 0.8 %

PPC opened at $53.55 on Friday. Pilgrim's Pride Co. has a 1-year low of $33.67 and a 1-year high of $57.16. 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 50-day moving average price of $52.54 and a two-hundred day moving average price of $49.87. The stock has a market capitalization of $12.71 billion, a PE ratio of 11.74 and a beta of 0.63.

Pilgrim's Pride Increases Dividend

The business also recently announced a special dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd were paid a $6.30 dividend. This is a positive change from Pilgrim's Pride's previous special dividend of $2.75. The ex-dividend date of this dividend was 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.

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