Pilgrim's Pride Co. (NASDAQ:PPC) Shares Acquired by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp raised its stake in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 110.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,100 shares of the company's stock after acquiring an additional 7,400 shares during the period. OMERS ADMINISTRATION Corp's holdings in Pilgrim's Pride were worth $640,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Accredited Wealth Management LLC acquired a new stake in Pilgrim's Pride in the 4th quarter valued at approximately $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Pilgrim's Pride during the fourth quarter worth $55,000. R Squared Ltd purchased a new stake in shares of Pilgrim's Pride in the 4th quarter valued at $59,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Pilgrim's Pride during the fourth quarter worth about $118,000. Finally, US Bancorp DE lifted its position in shares of 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 purchasing an additional 650 shares in the last quarter. 16.64% of the stock is owned by hedge funds and other institutional investors.

Pilgrim's Pride Stock Down 3.4%

Shares of PPC traded down $1.72 during midday trading on Thursday, reaching $49.19. The stock had a trading volume of 1,103,122 shares, compared to its average volume of 1,188,838. The company has a market cap of $11.66 billion, a price-to-earnings ratio of 10.79 and a beta of 0.51. The company's fifty day simple moving average is $50.88 and its two-hundred day simple moving average is $50.17. Pilgrim's Pride Co. has a 1-year low of $33.70 and a 1-year high of $57.16. 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 (NASDAQ:PPC - Get Free Report) last posted 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. The firm had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.53 billion. Pilgrim's Pride had a return on equity of 32.83% and a net margin of 6.08%. Pilgrim's Pride's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 earnings per share. Equities research analysts expect that Pilgrim's Pride Co. will post 5.13 earnings per share for the current year.

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 issued a $6.30 dividend. The ex-dividend date of this dividend was Thursday, April 3rd. This is an increase from Pilgrim's Pride's previous special dividend of $2.75.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PPC. Santander initiated coverage on shares of Pilgrim's Pride in a report on Wednesday, March 5th. They issued a "neutral" rating for the company. BMO Capital Markets boosted their price target 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, Wall Street Zen lowered Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price 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.