Peak6 LLC Acquires Shares of 18,303 Pilgrim's Pride Co. (NASDAQ:PPC)

PEAK6 LLC purchased a new position in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 18,303 shares of the company's stock, valued at approximately $831,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. R Squared Ltd bought a new stake in Pilgrim's Pride in the fourth quarter valued at approximately $59,000. Harbor Capital Advisors Inc. boosted 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 buying an additional 765 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Pilgrim's Pride in the 4th quarter worth $118,000. GAMMA Investing LLC increased its position in shares of Pilgrim's Pride by 31.9% in the fourth quarter. GAMMA Investing LLC now owns 2,688 shares of the company's stock valued at $122,000 after acquiring an additional 650 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Pilgrim's Pride during the third quarter worth about $141,000. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

Pilgrim's Pride Stock Performance

NASDAQ:PPC traded up $0.06 during mid-day trading on Wednesday, hitting $54.58. 1,058,710 shares of the company traded hands, compared to its average volume of 1,127,922. 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 one year low of $33.67 and a one year high of $57.16. The firm has a market cap of $12.96 billion, a price-to-earnings ratio of 11.97 and a beta of 0.63. The stock's fifty day moving average price is $52.51 and its 200-day moving average price is $49.76.

Pilgrim's Pride Increases Dividend

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

Analysts Set New Price Targets

Several brokerages recently issued reports on PPC. StockNews.com cut shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 2nd. BMO Capital Markets lifted their price target on Pilgrim's Pride from $47.00 to $48.00 and gave the stock a "market perform" rating in a research report on Monday, March 17th. Finally, Santander initiated coverage on shares of Pilgrim's Pride in a research note on Wednesday, March 5th. They set a "neutral" rating for the company. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $48.40.

Pilgrim's Pride 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.