Parvin Asset Management LLC Invests $362,000 in Pilgrim's Pride Co. (NASDAQ:PPC)

Parvin Asset Management LLC purchased a new position in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 7,975 shares of the company's stock, valued at approximately $362,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. R Squared Ltd bought a new stake in shares of Pilgrim's Pride in the 4th quarter valued at approximately $59,000. Harbor Capital Advisors Inc. grew its stake in shares of Pilgrim's Pride by 132.1% during the fourth 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Pilgrim's Pride in the 4th quarter valued at $118,000. GAMMA Investing LLC increased its position in Pilgrim's Pride by 31.9% in the fourth quarter. GAMMA Investing LLC now owns 2,688 shares of the company's stock worth $122,000 after purchasing an additional 650 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Pilgrim's Pride during the 3rd quarter worth approximately $141,000. Institutional investors and hedge funds own 16.64% of the company's stock.

Pilgrim's Pride Stock Up 0.6 %

Pilgrim's Pride stock traded up $0.30 during mid-day trading on Monday, reaching $46.44. The company's stock had a trading volume of 850,442 shares, compared to its average volume of 1,377,124. The company has a market capitalization of $11.02 billion, a price-to-earnings ratio of 10.18 and a beta of 0.51. The business's 50 day simple moving average is $52.32 and its 200 day simple moving average is $50.14. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01. 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 posted its quarterly 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. The firm 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 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, research analysts anticipate that Pilgrim's Pride Co. will post 5.13 earnings per share for the current year.

Pilgrim's Pride Increases Dividend

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

Analysts Set New Price Targets

PPC has been the subject of a number of recent analyst reports. StockNews.com downgraded Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 2nd. BMO Capital Markets lifted their target price on Pilgrim's Pride from $47.00 to $48.00 and gave the stock a "market perform" rating in a report on Monday, March 17th. Finally, Santander started coverage on Pilgrim's Pride in a research 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 given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target 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.