Pilgrim's Pride Co. (NASDAQ:PPC) Shares Purchased by Townsquare Capital LLC

Townsquare Capital LLC lifted its position in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 74.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,370 shares of the company's stock after acquiring an additional 9,115 shares during the quarter. Townsquare Capital LLC's holdings in Pilgrim's Pride were worth $970,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PPC. R Squared Ltd acquired a new stake in shares of Pilgrim's Pride in the 4th 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Pilgrim's Pride during the fourth quarter worth $118,000. GAMMA Investing LLC increased its position in shares of Pilgrim's Pride by 31.9% in the 4th quarter. GAMMA Investing LLC now owns 2,688 shares of the company's stock valued at $122,000 after acquiring an additional 650 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Pilgrim's Pride during the 3rd quarter worth about $141,000. 16.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PPC has been the topic of several recent research reports. StockNews.com downgraded shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 2nd. Santander started coverage on Pilgrim's Pride in a report on Wednesday, March 5th. They set a "neutral" rating on the stock. Finally, BMO Capital Markets boosted their target price on shares of Pilgrim's Pride from $47.00 to $48.00 and gave the company a "market perform" rating in a research note on Monday, March 17th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Pilgrim's Pride has an average rating of "Hold" and a consensus price target of $48.40.

Pilgrim's Pride Price Performance

NASDAQ PPC traded down $0.17 during mid-day trading on Thursday, hitting $54.42. The stock had a trading volume of 186,075 shares, compared to its average volume of 1,124,228. Pilgrim's Pride Co. has a twelve month low of $33.67 and a twelve month 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's 50 day moving average is $52.51 and its 200 day moving average is $49.76. The stock has a market capitalization of $12.92 billion, a price-to-earnings ratio of 11.92 and a beta of 0.63.

Pilgrim's Pride Increases Dividend

The business also recently declared a special dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be issued a $6.30 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This is a boost from Pilgrim's Pride's previous special dividend of $2.75.

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.