Advisory Services Network LLC Takes Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

Advisory Services Network LLC acquired a new position in Pilgrim’s Pride Co. (NASDAQ:PPC) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 9,309 shares of the company’s stock, valued at approximately $423,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PPC. Abacus FCF Advisors LLC boosted its stake in Pilgrim’s Pride by 50.8% during the fourth quarter. Abacus FCF Advisors LLC now owns 43,026 shares of the company’s stock valued at $1,953,000 after buying an additional 14,502 shares in the last quarter. Bank of Nova Scotia bought a new position in shares of Pilgrim’s Pride during the 4th quarter valued at about $306,000. Invesco Ltd. grew its stake in shares of Pilgrim’s Pride by 11.9% in the 4th quarter. Invesco Ltd. now owns 1,125,329 shares of the company’s stock worth $51,079,000 after purchasing an additional 119,555 shares during the last quarter. Polymer Capital Management US LLC bought a new stake in shares of Pilgrim’s Pride in the 4th quarter worth approximately $231,000. Finally, Trek Financial LLC acquired a new stake in Pilgrim’s Pride during the fourth quarter valued at approximately $331,000. 16.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Pilgrim’s Pride Trading Up 0.1 %

Shares of NASDAQ PPC opened at $53.34 on Thursday. The firm has a market capitalization of $12.66 billion, a PE ratio of 11.70 and a beta of 0.63. Pilgrim’s Pride Co. has a one year low of $33.67 and a one year high of $57.16. 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 business has a 50-day moving average price of $52.31 and a two-hundred day moving average price of $49.48.

Pilgrim’s Pride Increases Dividend

The business also recently disclosed a special dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be given a dividend of $6.30 per share. The ex-dividend date is Thursday, April 3rd. This is an increase 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.