Advisory Services Network LLC Purchases New Stake in Pilgrim's Pride Co. (NASDAQ:PPC)

Advisory Services Network LLC bought a new stake in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,309 shares of the company's stock, valued at approximately $423,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its position in Pilgrim's Pride by 325.8% during 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 acquired a new position in shares of Pilgrim's Pride during the fourth quarter worth about $8,381,000. Illinois Municipal Retirement Fund boosted its position 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 grew its stake 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 valued at $1,298,000 after buying an additional 12,149 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Pilgrim's Pride in the fourth quarter valued at about $249,000. Hedge funds and other institutional investors own 16.64% of the company's stock.

Pilgrim's Pride Stock Up 1.6 %

Shares of NASDAQ:PPC traded up $0.88 during midday trading on Tuesday, reaching $54.52. The company had a trading volume of 885,227 shares, compared to its average volume of 1,125,664. The stock has a market capitalization of $12.94 billion, a P/E ratio of 11.96 and a beta of 0.63. The stock's fifty day moving average price is $52.50 and its 200-day moving average price is $49.73. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.01 and a quick ratio of 1.31. Pilgrim's Pride Co. has a one year low of $33.67 and a one year high of $57.16.

Pilgrim's Pride Increases Dividend

The business also recently announced a special dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd will be paid a $6.30 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This is a positive change from Pilgrim's Pride's previous special dividend of $2.75.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PPC shares. StockNews.com cut Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 2nd. Santander began coverage on shares of Pilgrim's Pride in a research note on Wednesday, March 5th. They issued a "neutral" rating for the company. Finally, BMO Capital Markets raised their price target on shares of Pilgrim's Pride from $47.00 to $48.00 and gave the company a "market perform" rating in a report on Monday, March 17th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Pilgrim's Pride presently has an average rating of "Hold" and an average price target of $48.40.

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.