Townsquare Capital LLC Boosts Stake in Pilgrim's Pride Co. (NASDAQ:PPC)

Townsquare Capital LLC raised its holdings in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 74.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 21,370 shares of the company's stock after acquiring an additional 9,115 shares during the period. Townsquare Capital LLC's holdings in Pilgrim's Pride were worth $970,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Franklin Resources Inc. lifted its holdings in Pilgrim's Pride by 325.8% during the third quarter. Franklin Resources Inc. now owns 55,071 shares of the company's stock worth $2,485,000 after acquiring an additional 42,136 shares in the last quarter. Ruffer LLP acquired a new position in shares of Pilgrim's Pride in the 4th quarter valued at approximately $8,381,000. Illinois Municipal Retirement Fund raised its holdings in Pilgrim's Pride by 30.0% during the 4th quarter. Illinois Municipal Retirement Fund now owns 58,289 shares of the company's stock worth $2,646,000 after buying an additional 13,459 shares during the period. Sigma Planning Corp lifted its stake in Pilgrim's Pride by 73.9% in the fourth quarter. Sigma Planning Corp now owns 28,587 shares of the company's stock valued at $1,298,000 after buying an additional 12,149 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Pilgrim's Pride in the fourth quarter valued at approximately $249,000. Institutional investors and hedge funds own 16.64% of the company's stock.

Pilgrim's Pride Stock Down 0.7 %

Shares of NASDAQ:PPC traded down $0.37 during midday trading on Monday, hitting $53.64. 989,404 shares of the company's stock were exchanged, compared to its average volume of 1,124,442. 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 cap of $12.73 billion, a PE ratio of 11.76 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 stock has a 50 day moving average price of $52.45 and a 200-day moving average price of $49.70.

Pilgrim's Pride Increases Dividend

The business also recently declared a special dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be given a $6.30 dividend. This is a positive change from Pilgrim's Pride's previous special dividend of $2.75. The ex-dividend date is Thursday, April 3rd.

Wall Street Analysts Forecast Growth

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

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.