Pilgrim’s Pride Co. (NASDAQ:PPC) Shares Bought by LPL Financial LLC

LPL Financial LLC increased its stake in Pilgrim’s Pride Co. (NASDAQ:PPC) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,826 shares of the company’s stock after acquiring an additional 1,973 shares during the period. LPL Financial LLC’s holdings in Pilgrim’s Pride were worth $1,898,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. R Squared Ltd acquired a new position in shares of Pilgrim’s Pride during the 4th quarter valued at about $59,000. Harbor Capital Advisors Inc. boosted 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 valued at $61,000 after buying an additional 765 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Pilgrim’s Pride during the 4th quarter worth about $118,000. GAMMA Investing LLC grew its position in Pilgrim’s Pride by 31.9% during the 4th quarter. GAMMA Investing LLC now owns 2,688 shares of the company’s stock worth $122,000 after acquiring an additional 650 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Pilgrim’s Pride during the 3rd quarter worth about $141,000. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Up 1.4 %

PPC stock opened at $53.29 on Wednesday. Pilgrim’s Pride Co. has a fifty-two week low of $33.67 and a fifty-two week high of $57.16. The stock’s 50 day simple moving average is $52.26 and its 200 day simple moving average is $49.46. 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 cap of $12.65 billion, a P/E ratio of 11.69 and a beta of 0.63.

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 given a dividend of $6.30 per share. The ex-dividend date is Thursday, April 3rd. This is a boost from Pilgrim’s Pride’s previous special dividend of $2.75.

Analyst Ratings Changes

Several analysts have commented on PPC shares. BMO Capital Markets upped their target price on shares of 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. 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. Finally, Santander began coverage on Pilgrim’s Pride in a research report on Wednesday, March 5th. They set a “neutral” rating on the stock. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $46.33.

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.