Treasurer of the State of North Carolina Purchases 1,845 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Treasurer of the State of North Carolina grew its position in Pilgrim’s Pride Co. (NASDAQ:PPC) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,023 shares of the company’s stock after acquiring an additional 1,845 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Pilgrim’s Pride were worth $2,861,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. R Squared Ltd purchased a new stake in Pilgrim’s Pride in the fourth quarter worth $59,000. Harbor Capital Advisors Inc. increased its stake in Pilgrim’s Pride by 132.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,344 shares of the company’s stock worth $61,000 after buying an additional 765 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Pilgrim’s Pride during the 4th quarter valued at about $118,000. GAMMA Investing LLC boosted its position in Pilgrim’s Pride by 31.9% in the 4th quarter. GAMMA Investing LLC now owns 2,688 shares of the company’s stock valued at $122,000 after buying an additional 650 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in Pilgrim’s Pride in the 3rd quarter worth about $141,000. Institutional investors own 16.64% of the company’s stock.

Wall Street Analysts Forecast Growth

PPC has been the subject of several research analyst reports. StockNews.com downgraded shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 2nd. Santander began coverage on Pilgrim’s Pride in a report on Wednesday, March 5th. They issued a “neutral” rating for the company. Finally, BMO Capital Markets raised 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. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus 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 company has a market capitalization of $12.66 billion, a PE ratio of 11.70 and a beta of 0.63. The company has a current ratio of 2.01, a quick ratio of 1.31 and a debt-to-equity ratio of 0.75. Pilgrim’s Pride Co. has a 12-month low of $33.67 and a 12-month high of $57.16. The business’s fifty day simple moving average is $52.31 and its 200-day simple moving average is $49.48.

Pilgrim’s Pride Increases Dividend

The company also recently announced a special dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd will be issued a $6.30 dividend. The ex-dividend date is Thursday, April 3rd. This is an increase from Pilgrim’s Pride’s previous special dividend of $2.75.

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.