Proficio Capital Partners LLC Acquires Shares of 13,799 Pilgrim's Pride Co. (NASDAQ:PPC)

Proficio Capital Partners LLC purchased a new position in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,799 shares of the company's stock, valued at approximately $626,000.

Several other institutional investors have also recently made changes to their positions in the stock. Quarry LP boosted its holdings in Pilgrim's Pride by 295.8% in the 3rd quarter. Quarry LP now owns 946 shares of the company's stock worth $44,000 after buying an additional 707 shares during the period. R Squared Ltd purchased a new position in shares of Pilgrim's Pride in the fourth quarter valued at about $59,000. Harbor Capital Advisors Inc. boosted its stake in shares of Pilgrim's Pride by 132.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,344 shares of the company's stock worth $61,000 after acquiring an additional 765 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Pilgrim's Pride during the fourth quarter worth about $118,000. Finally, GAMMA Investing LLC raised its stake in Pilgrim's Pride by 31.9% during the 4th quarter. GAMMA Investing LLC now owns 2,688 shares of the company's stock valued at $122,000 after purchasing an additional 650 shares during the period. Institutional investors own 16.64% of the company's stock.

Analyst Ratings Changes

PPC has been the subject of a number of research analyst reports. StockNews.com lowered shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 2nd. BMO Capital Markets lifted their price target 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. Finally, Santander started coverage on shares of Pilgrim's Pride in a report on Wednesday, March 5th. They set a "neutral" rating for the company. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $46.33.

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Pilgrim's Pride Price Performance

Shares of NASDAQ:PPC traded up $0.65 on Thursday, reaching $53.24. The company's stock had a trading volume of 837,822 shares, compared to its average volume of 1,048,559. The company has a 50-day simple moving average of $50.46 and a 200 day simple moving average of $48.44. Pilgrim's Pride Co. has a 52-week low of $33.67 and a 52-week high of $57.16. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01. The company has a market cap of $12.62 billion, a P/E ratio of 11.68 and a beta of 0.71.

Pilgrim's Pride Increases Dividend

The business also recently disclosed a special dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd will be paid a dividend of $6.30 per share. This is a boost from Pilgrim's Pride's previous special dividend of $2.75.

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.