Tidal Investments LLC Boosts Stock Position in Pilgrim's Pride Co. (NASDAQ:PPC)

Tidal Investments LLC increased its holdings in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 29.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 56,788 shares of the company's stock after purchasing an additional 13,043 shares during the period. Tidal Investments LLC's holdings in Pilgrim's Pride were worth $2,578,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Accredited Wealth Management LLC bought a new stake in shares of Pilgrim's Pride in the 4th quarter worth about $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Pilgrim's Pride during the fourth quarter worth approximately $55,000. R Squared Ltd purchased a new stake in Pilgrim's Pride during the fourth quarter valued at approximately $59,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Pilgrim's Pride during the fourth quarter valued at approximately $118,000. Finally, US Bancorp DE lifted its stake in shares of Pilgrim's Pride by 23.3% in the 4th quarter. US Bancorp DE now owns 3,445 shares of the company's stock valued at $156,000 after purchasing an additional 650 shares during the last quarter. Hedge funds and other institutional investors own 16.64% of the company's stock.

Pilgrim's Pride Price Performance

PPC opened at $49.19 on Friday. The business has a fifty day moving average of $50.87 and a 200 day moving average of $50.16. The stock has a market cap of $11.66 billion, a P/E ratio of 10.79 and a beta of 0.51. The company has a quick ratio of 1.31, a current ratio of 2.01 and a debt-to-equity ratio of 0.75. Pilgrim's Pride Co. has a 52-week low of $33.70 and a 52-week high of $57.16.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.05. The business had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.53 billion. Pilgrim's Pride had a return on equity of 32.83% and a net margin of 6.08%. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the company earned $0.77 earnings per share. As a group, sell-side analysts anticipate 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 boost from Pilgrim's Pride's previous special dividend of $2.75. The ex-dividend date was Thursday, April 3rd.

Analysts Set New Price Targets

Several analysts recently weighed in on PPC shares. Santander started coverage on Pilgrim's Pride in a report on Wednesday, March 5th. They set a "neutral" rating on the stock. BMO Capital Markets boosted their price objective 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. Finally, Wall Street Zen lowered shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $48.40.

Pilgrim's Pride Company 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.

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