O Shaughnessy Asset Management LLC Makes New $2.47 Million Investment in Pilgrim's Pride Co. (NASDAQ:PPC)

O Shaughnessy Asset Management LLC acquired a new stake in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 54,464 shares of the company's stock, valued at approximately $2,472,000.

A number of other institutional investors also recently modified their holdings of PPC. Quarry LP lifted its stake in shares of Pilgrim's Pride by 295.8% during the third quarter. Quarry LP now owns 946 shares of the company's stock valued at $44,000 after acquiring an additional 707 shares during the period. R Squared Ltd acquired a new position in Pilgrim's Pride during the 4th quarter valued at about $59,000. Harbor Capital Advisors Inc. lifted its position in Pilgrim's Pride by 132.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 1,344 shares of the company's stock valued at $61,000 after purchasing an additional 765 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Pilgrim's Pride in the 4th quarter valued at about $118,000. Finally, GAMMA Investing LLC grew its position in shares of Pilgrim's Pride by 31.9% during the 4th quarter. GAMMA Investing LLC now owns 2,688 shares of the company's stock worth $122,000 after buying an additional 650 shares during the period. 16.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PPC shares. BMO Capital Markets increased their price objective 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 initiated coverage on Pilgrim's Pride in a research note on Wednesday, March 5th. They issued a "neutral" rating on the stock. Finally, StockNews.com cut Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 2nd. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $46.33.

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Pilgrim's Pride Trading Up 2.4 %

Shares of NASDAQ PPC traded up $1.19 during midday trading on Tuesday, reaching $50.66. 275,554 shares of the stock were exchanged, compared to its average volume of 1,094,372. 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 $12.01 billion, a price-to-earnings ratio of 11.11 and a beta of 0.63. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.01 and a quick ratio of 1.31. The business has a 50-day simple moving average of $51.65 and a two-hundred day simple moving average of $49.09.

Pilgrim's Pride Increases Dividend

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

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.