10,336 Shares in Pilgrim’s Pride Co. (NASDAQ:PPC) Purchased by Bryce Point Capital LLC

Bryce Point Capital LLC acquired a new stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 10,336 shares of the company’s stock, valued at approximately $469,000.

Several other institutional investors have also modified their holdings of PPC. Franklin Resources Inc. raised its position in Pilgrim’s Pride by 325.8% in the 3rd quarter. Franklin Resources Inc. now owns 55,071 shares of the company’s stock worth $2,485,000 after purchasing an additional 42,136 shares during the period. Ruffer LLP bought a new position in shares of Pilgrim’s Pride during the fourth quarter valued at approximately $8,381,000. Illinois Municipal Retirement Fund raised its holdings in shares of Pilgrim’s Pride by 30.0% in the fourth 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 raised its holdings in shares of Pilgrim’s Pride by 73.9% in the fourth quarter. Sigma Planning Corp now owns 28,587 shares of the company’s stock worth $1,298,000 after buying an additional 12,149 shares during the period. Finally, Norden Group LLC lifted its stake in shares of Pilgrim’s Pride by 61.6% during the 4th quarter. Norden Group LLC now owns 15,211 shares of the company’s stock worth $690,000 after acquiring an additional 5,798 shares during the last quarter. 16.64% of the stock is owned by institutional investors.

Pilgrim’s Pride Trading Down 2.1 %

NASDAQ PPC opened at $49.97 on Friday. Pilgrim’s Pride Co. has a one year low of $33.67 and a one year 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 capitalization of $11.85 billion, a price-to-earnings ratio of 10.96 and a beta of 0.63. The company’s 50-day simple moving average is $51.58 and its two-hundred day simple moving average is $48.94.

Pilgrim’s Pride Increases Dividend

The firm also recently disclosed a special dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be issued a dividend of $6.30 per share. 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.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PPC. StockNews.com lowered Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 2nd. BMO Capital Markets raised their price target on shares of Pilgrim’s Pride from $47.00 to $48.00 and gave the stock a “market perform” rating in a research note on Monday, March 17th. Finally, Santander started coverage on shares of Pilgrim’s Pride in a research report on Wednesday, March 5th. They issued a “neutral” rating for the company. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $46.33.

Pilgrim’s Pride Company 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.