O Shaughnessy Asset Management LLC Takes Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

by · The Markets Daily

O Shaughnessy Asset Management LLC bought a new position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC – Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 54,464 shares of the company’s stock, valued at approximately $2,472,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP boosted its holdings 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 purchasing an additional 707 shares during the last quarter. R Squared Ltd purchased a new position in Pilgrim’s Pride during the fourth quarter worth about $59,000. Harbor Capital Advisors Inc. grew its holdings 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 valued at $61,000 after buying an additional 765 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Pilgrim’s Pride during the 4th quarter valued at about $118,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Pilgrim’s Pride by 31.9% during the 4th quarter. GAMMA Investing LLC now owns 2,688 shares of the company’s stock worth $122,000 after acquiring an additional 650 shares during the period. 16.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Santander initiated coverage on shares of Pilgrim’s Pride in a report on Wednesday, March 5th. They issued a “neutral” rating for the company. BMO Capital Markets boosted 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 note on Monday, March 17th. Finally, StockNews.com lowered Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 2nd. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $46.33.

Check Out Our Latest Research Report on PPC

Pilgrim’s Pride Stock Performance

NASDAQ:PPC opened at $51.06 on Friday. The firm’s fifty day simple moving average is $51.50 and its 200 day simple moving average is $48.88. The company has a current ratio of 2.01, a quick ratio of 1.31 and a debt-to-equity ratio of 0.75. Pilgrim’s Pride Co. has a twelve month low of $33.67 and a twelve month high of $57.16. The firm has a market capitalization of $12.11 billion, a price-to-earnings ratio of 11.20 and a beta of 0.63.

Pilgrim’s Pride Increases Dividend

The business also recently announced a special dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd will be paid a $6.30 dividend. The ex-dividend date is Thursday, April 3rd. This is a positive change from Pilgrim’s Pride’s previous special dividend of $2.75.

Pilgrim’s Pride Company Profile

(Free Report)

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.

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