Peak6 LLC Takes Position in Pilgrim's Pride Co. (NASDAQ:PPC)

PEAK6 LLC acquired a new position in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 18,303 shares of the company's stock, valued at approximately $831,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of Pilgrim's Pride in the fourth quarter worth $59,000. Harbor Capital Advisors Inc. boosted its stake in Pilgrim's Pride by 132.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,344 shares of the company's stock worth $61,000 after purchasing an additional 765 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Pilgrim's Pride during the 4th quarter valued at about $118,000. GAMMA Investing LLC grew its holdings in Pilgrim's Pride by 31.9% during the 4th quarter. GAMMA Investing LLC now owns 2,688 shares of the company's stock valued at $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 during the third quarter valued at about $141,000. 16.64% of the stock is currently owned by institutional investors.

Pilgrim's Pride Price Performance

Pilgrim's Pride stock traded down $0.42 during mid-day trading on Friday, hitting $53.55. 636,040 shares of the company traded hands, compared to its average volume of 1,131,592. Pilgrim's Pride Co. has a one year low of $33.67 and a one year high of $57.16. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01. The stock has a market cap of $12.71 billion, a price-to-earnings ratio of 11.74 and a beta of 0.63. The stock has a fifty day moving average price of $52.54 and a 200-day moving average price of $49.87.

Pilgrim's Pride Increases Dividend

The company also recently declared a special dividend, which was paid on Thursday, April 24th. Shareholders 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.

Analyst Upgrades and Downgrades

PPC has been the subject of a number of analyst reports. BMO Capital Markets raised 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. Santander started coverage on shares of Pilgrim's Pride in a report on Wednesday, March 5th. They issued a "neutral" rating for the company. Finally, StockNews.com cut shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 2nd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Pilgrim's Pride presently has a consensus rating of "Hold" and an average price target of $48.40.

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.