Mariner LLC Buys 12,244 Shares of Pilgrim's Pride Co. (NASDAQ:PPC)

Mariner LLC boosted its position in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 60.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 32,454 shares of the company's stock after acquiring an additional 12,244 shares during the period. Mariner LLC's holdings in Pilgrim's Pride were worth $1,473,000 at the end of the most recent reporting period.

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

Pilgrim's Pride Trading Up 0.9 %

Pilgrim's Pride stock traded up $0.48 during mid-day trading on Wednesday, hitting $54.46. 471,302 shares of the company's stock were exchanged, compared to its average volume of 1,132,226. The company's 50 day simple moving average is $52.59 and its 200-day simple moving average is $50.03. 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 firm has a market capitalization of $12.93 billion, a P/E ratio of 11.94 and a beta of 0.63.

Pilgrim's Pride Increases Dividend

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

Analyst Ratings Changes

Several research firms have recently weighed in on PPC. Santander initiated coverage on shares of Pilgrim's Pride in a research report on Wednesday, March 5th. They issued a "neutral" rating for the company. BMO Capital Markets raised their target price on 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, 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. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus 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.