5,278 Shares in Pilgrim's Pride Co. (NASDAQ:PPC) Acquired by Western Wealth Management LLC

Western Wealth Management LLC acquired a new stake in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,278 shares of the company's stock, valued at approximately $240,000.

Several other institutional investors have also recently made changes to their positions in PPC. Ruffer LLP acquired a new stake in shares of Pilgrim's Pride in the 4th quarter worth about $8,381,000. Illinois Municipal Retirement Fund raised its holdings in shares of Pilgrim's Pride by 30.0% in the 4th quarter. Illinois Municipal Retirement Fund now owns 58,289 shares of the company's stock worth $2,646,000 after acquiring an additional 13,459 shares during the last quarter. Sigma Planning Corp raised its holdings in shares of Pilgrim's Pride by 73.9% in the 4th quarter. Sigma Planning Corp now owns 28,587 shares of the company's stock worth $1,298,000 after acquiring an additional 12,149 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of Pilgrim's Pride in the 4th quarter worth about $249,000. Finally, Norden Group LLC raised its holdings in shares of Pilgrim's Pride by 61.6% in the 4th quarter. Norden Group LLC now owns 15,211 shares of the company's stock worth $690,000 after acquiring an additional 5,798 shares during the last quarter. Institutional investors and hedge funds own 16.64% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on PPC. Santander began coverage on shares of Pilgrim's Pride in a report on Wednesday, March 5th. They issued a "neutral" rating on the stock. Wall Street Zen lowered shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Wednesday, May 21st. Finally, BMO Capital Markets upped 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 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's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $48.40.

Pilgrim's Pride Stock Performance

Shares of NASDAQ PPC traded up $0.13 during mid-day trading on Wednesday, reaching $48.45. 969,768 shares of the company's stock were exchanged, compared to its average volume of 1,192,298. The firm has a market capitalization of $11.49 billion, a price-to-earnings ratio of 10.63 and a beta of 0.51. Pilgrim's Pride Co. has a 52 week low of $33.70 and a 52 week 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. The firm has a 50-day moving average price of $50.78 and a two-hundred day moving average price of $50.05.

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, beating analysts' consensus estimates 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 firm had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same period in the prior year, the firm earned $0.77 EPS. The company's revenue was up 2.3% compared to the same quarter last year. Analysts predict that Pilgrim's Pride Co. will post 5.13 EPS for the current year.

Pilgrim's Pride Increases Dividend

The business also recently announced a special dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd were given a dividend of $6.30 per share. This is an increase from Pilgrim's Pride's previous special dividend of $2.75. The ex-dividend date of this dividend was Thursday, April 3rd.

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.