Twinbeech Capital LP Invests $372,000 in Pilgrim's Pride Co. (NASDAQ:PPC)

Twinbeech Capital LP acquired a new stake in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 8,201 shares of the company's stock, valued at approximately $372,000.

Other institutional investors also recently modified their holdings of the company. Accredited Wealth Management LLC bought a new stake in shares of Pilgrim's Pride in the 4th quarter valued at $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Pilgrim's Pride during the fourth quarter worth $55,000. R Squared Ltd bought a new position in Pilgrim's Pride during the fourth quarter worth $59,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Pilgrim's Pride during the fourth quarter worth $118,000. Finally, US Bancorp DE boosted its stake in Pilgrim's Pride by 23.3% during the fourth quarter. US Bancorp DE now owns 3,445 shares of the company's stock worth $156,000 after acquiring an additional 650 shares in the last quarter. 16.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PPC has been the topic of several research analyst reports. Wall Street Zen lowered shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, May 21st. BMO Capital Markets increased their target price on shares of Pilgrim's Pride from $47.00 to $48.00 and gave the stock a "market perform" rating in a research note on Monday, March 17th. Finally, Santander initiated coverage on shares of Pilgrim's Pride in a report on Wednesday, March 5th. They set a "neutral" rating on the stock. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $48.40.

Pilgrim's Pride Stock Down 0.4%

Shares of PPC stock traded down $0.18 on Wednesday, hitting $48.14. The stock had a trading volume of 166,053 shares, compared to its average volume of 1,187,307. The business has a 50 day moving average of $50.78 and a 200 day moving average of $50.05. The stock has a market cap of $11.41 billion, a price-to-earnings ratio of 10.58 and a beta of 0.51. 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 12-month low of $33.70 and a 12-month high of $57.16.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.26 by $0.05. Pilgrim's Pride had a net margin of 6.08% and a return on equity of 32.83%. The company had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. As a group, analysts expect that Pilgrim's Pride Co. will post 5.13 EPS for the current year.

Pilgrim's Pride Increases Dividend

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

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.