Stevens Capital Management LP Invests $225,000 in Pilgrim's Pride Co. (NASDAQ:PPC)

Stevens Capital Management LP acquired a new position in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,961 shares of the company's stock, valued at approximately $225,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Quarry LP grew its position in Pilgrim's Pride by 295.8% in the third quarter. Quarry LP now owns 946 shares of the company's stock valued at $44,000 after purchasing an additional 707 shares in the last quarter. R Squared Ltd bought a new stake in Pilgrim's Pride during the fourth quarter worth about $59,000. Harbor Capital Advisors Inc. boosted its position in Pilgrim's Pride by 132.1% during the fourth 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 last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Pilgrim's Pride in the fourth quarter valued at approximately $118,000. Finally, GAMMA Investing LLC increased 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 purchasing an additional 650 shares during the last quarter. 16.64% of the stock is owned by institutional investors.

Pilgrim's Pride Stock Performance

Shares of NASDAQ PPC traded up $0.29 during mid-day trading on Tuesday, hitting $51.07. The company had a trading volume of 1,196,639 shares, compared to its average volume of 1,046,482. Pilgrim's Pride Co. has a 1 year low of $33.67 and a 1 year high of $57.16. The stock's 50-day moving average price is $50.33 and its 200-day moving average price is $48.41. 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 company has a market capitalization of $12.11 billion, a price-to-earnings ratio of 11.20 and a beta of 0.71.

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Pilgrim's Pride Increases Dividend

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

Analyst Ratings Changes

PPC has been the topic of a number of recent analyst reports. 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 assumed coverage on Pilgrim's Pride in a research note on Wednesday, March 5th. They issued a "neutral" rating on the stock. Finally, BMO Capital Markets upped their target price on Pilgrim's Pride from $47.00 to $48.00 and gave the company a "market perform" rating in a research report on Monday, March 17th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Pilgrim's Pride currently has a consensus rating of "Hold" and a consensus price target of $46.33.

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.