Trek Financial LLC acquired a new stake in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,288 shares of the company's stock, valued at approximately $331,000.
Several other hedge funds have also recently modified their holdings of PPC. Wells Fargo & Company MN increased its stake in Pilgrim's Pride by 7.8% in the 4th quarter. Wells Fargo & Company MN now owns 25,926 shares of the company's stock worth $1,177,000 after acquiring an additional 1,876 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new stake in Pilgrim's Pride in the fourth quarter worth $386,000. Landscape Capital Management L.L.C. bought a new stake in Pilgrim's Pride in the fourth quarter worth $551,000. Atlas Capital Advisors Inc. lifted its position in Pilgrim's Pride by 6.4% during the fourth quarter. Atlas Capital Advisors Inc. now owns 15,752 shares of the company's stock valued at $715,000 after purchasing an additional 943 shares during the last quarter. Finally, Bryce Point Capital LLC bought a new position in Pilgrim's Pride during the fourth quarter valued at $469,000. Hedge funds and other institutional investors own 16.64% of the company's stock.
Analyst Ratings Changes
Several analysts have recently issued reports on the stock. 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. BMO Capital Markets upped their price objective 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. Finally, StockNews.com cut Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 2nd. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $46.33.
Get Our Latest Stock Analysis on PPC
Pilgrim's Pride Trading Up 2.5 %
Shares of PPC traded up $1.28 during mid-day trading on Friday, reaching $52.81. 1,319,772 shares of the company's stock traded hands, compared to its average volume of 1,113,460. Pilgrim's Pride Co. has a 12 month low of $33.67 and a 12 month high of $57.16. 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 market cap of $12.54 billion, a P/E ratio of 11.58 and a beta of 0.63. The stock's 50-day moving average is $52.07 and its two-hundred day moving average is $49.37.
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 paid a $6.30 dividend. This is a positive change from Pilgrim's Pride's previous special dividend of $2.75. The ex-dividend date of this dividend is Thursday, April 3rd.
Pilgrim's Pride Company Profile
(
Free Report)
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.
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