6,564 Shares in Pilgrim's Pride Co. (NASDAQ:PPC) Purchased by Alpine Global Management LLC

Alpine Global Management LLC purchased a new position in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,564 shares of the company's stock, valued at approximately $298,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PPC. R Squared Ltd purchased a new position in shares of Pilgrim's Pride in the fourth quarter worth $59,000. Harbor Capital Advisors Inc. grew its stake in Pilgrim's Pride by 132.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 1,344 shares of the company's stock valued at $61,000 after purchasing an additional 765 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Pilgrim's Pride in the fourth quarter valued at about $118,000. GAMMA Investing LLC raised its stake in shares of Pilgrim's Pride by 31.9% in the fourth quarter. GAMMA Investing LLC now owns 2,688 shares of the company's stock worth $122,000 after purchasing an additional 650 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Pilgrim's Pride during the third quarter worth about $141,000. Hedge funds and other institutional investors own 16.64% of the company's stock.

Pilgrim's Pride Price Performance

Shares of NASDAQ:PPC traded down $0.42 during trading on Friday, reaching $53.55. 636,040 shares of the company's stock traded hands, compared to its average volume of 1,134,856. The firm has a market cap of $12.71 billion, a PE ratio of 11.74 and a beta of 0.63. Pilgrim's Pride Co. has a fifty-two week low of $33.67 and a fifty-two week high of $57.16. The company has a quick ratio of 1.31, a current ratio of 2.01 and a debt-to-equity ratio of 0.75. The company has a 50-day simple moving average of $52.54 and a 200-day simple moving average of $49.90.

Pilgrim's Pride Increases Dividend

The firm also recently disclosed a special dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd were given a $6.30 dividend. The ex-dividend date was Thursday, April 3rd. This is a boost from Pilgrim's Pride's previous special dividend of $2.75.

Analysts Set New Price Targets

PPC has been the subject of several research reports. StockNews.com cut shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 2nd. Santander assumed coverage on Pilgrim's Pride in a research report on Wednesday, March 5th. They set a "neutral" rating on the stock. Finally, BMO Capital Markets raised their target price 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. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $48.40.

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.