Moran Wealth Management LLC lifted its position in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 1,259.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 72,765 shares of the company's stock after buying an additional 67,411 shares during the quarter. 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 hedge funds also recently bought and sold shares of PPC. Ruffer LLP bought a new position in Pilgrim's Pride in the 4th quarter worth approximately $8,381,000. Inceptionr LLC purchased a new position in shares of Pilgrim's Pride in the fourth quarter worth $491,000. Raymond James Financial Inc. bought a new position in shares of Pilgrim's Pride during the fourth quarter worth $2,664,000. Proficio Capital Partners LLC purchased a new position in Pilgrim's Pride during the fourth quarter valued at $626,000. Finally, Assetmark Inc. increased its holdings in Pilgrim's Pride by 2.6% in the 4th quarter. Assetmark Inc. now owns 849,276 shares of the company's stock valued at $38,549,000 after acquiring an additional 21,575 shares during the last quarter. Institutional investors own 16.64% of the company's stock.
Analysts Set New Price Targets
Several research analysts have commented on PPC shares. StockNews.com downgraded shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 2nd. Santander started coverage on Pilgrim's Pride in a research note on Wednesday, March 5th. They set a "neutral" rating for the company. Six equities research 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 company currently has an average rating of "Hold" and a consensus target price of $45.50.
Get Our Latest Report on Pilgrim's Pride
Pilgrim's Pride Trading Down 1.3 %
PPC traded down $0.65 on Friday, hitting $49.62. The company had a trading volume of 1,474,691 shares, compared to its average volume of 1,169,957. The business's fifty day simple moving average is $49.66 and its 200 day simple moving average is $48.13. The company has a quick ratio of 1.31, a current ratio of 2.01 and a debt-to-equity ratio of 0.75. Pilgrim's Pride Co. has a 12-month low of $33.25 and a 12-month high of $57.16. The company has a market cap of $11.77 billion, a PE ratio of 10.88 and a beta of 0.71.
Pilgrim's Pride Increases Dividend
The company also recently disclosed a special dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd will be given a dividend of $6.30 per share. This is a boost from Pilgrim's Pride's previous special dividend of $2.75.
About Pilgrim's Pride
(
Free Report)
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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