Proficio Capital Partners LLC Takes $626,000 Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

Proficio Capital Partners LLC bought a new stake in Pilgrim’s Pride Co. (NASDAQ:PPC) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 13,799 shares of the company’s stock, valued at approximately $626,000.

Other large investors also recently bought and sold shares of the company. Quarry LP increased its stake in shares of Pilgrim’s Pride by 295.8% during the third quarter. Quarry LP now owns 946 shares of the company’s stock worth $44,000 after buying an additional 707 shares during the period. R Squared Ltd acquired a new stake in shares of Pilgrim’s Pride during the fourth quarter worth $59,000. Harbor Capital Advisors Inc. lifted its holdings 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 worth $61,000 after purchasing an additional 765 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Pilgrim’s Pride during the fourth quarter worth $118,000. Finally, GAMMA Investing LLC lifted its holdings in Pilgrim’s Pride by 31.9% in the fourth 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. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Down 5.2 %

Shares of Pilgrim’s Pride stock opened at $49.23 on Monday. The firm has a market capitalization of $11.67 billion, a PE ratio of 10.80 and a beta of 0.71. Pilgrim’s Pride Co. has a 12-month low of $33.67 and a 12-month 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 stock’s fifty day moving average is $50.12 and its 200-day moving average is $48.33.

Pilgrim’s Pride Increases Dividend

The business also recently disclosed a special dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be paid a $6.30 dividend. This is an increase from Pilgrim’s Pride’s previous special dividend of $2.75.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. BMO Capital Markets raised their price target 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. StockNews.com lowered Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 2nd. Finally, Santander began coverage on Pilgrim’s Pride in a report on Wednesday, March 5th. They issued a “neutral” rating for the company. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Pilgrim’s Pride presently has a consensus rating of “Hold” and an average target price of $46.33.

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.