Pilgrim’s Pride Co. (NASDAQ:PPC) Shares Purchased by Aquatic Capital Management LLC

Aquatic Capital Management LLC raised its stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 478.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 46,851 shares of the company’s stock after buying an additional 38,751 shares during the period. Aquatic Capital Management LLC’s holdings in Pilgrim’s Pride were worth $2,127,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PPC. R Squared Ltd acquired a new position in shares of Pilgrim’s Pride in the 4th quarter worth approximately $59,000. Harbor Capital Advisors Inc. boosted its holdings in shares of Pilgrim’s Pride by 132.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,344 shares of the company’s stock worth $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 in the fourth quarter worth about $118,000. GAMMA Investing LLC boosted its holdings in shares of 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 buying an additional 650 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Pilgrim’s Pride in the third quarter worth about $141,000. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Performance

PPC stock opened at $53.31 on Tuesday. 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 $12.65 billion, a P/E ratio of 11.69 and a beta of 0.63. The firm has a 50 day simple moving average of $52.55 and a 200 day simple moving average of $50.00. Pilgrim’s Pride Co. has a 52 week low of $33.67 and a 52 week high of $57.16.

Pilgrim’s Pride Increases Dividend

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

Analyst Upgrades and Downgrades

PPC has been the subject of several recent analyst reports. BMO Capital Markets raised their target price on shares of Pilgrim’s Pride from $47.00 to $48.00 and gave the stock a “market perform” rating in a report on Monday, March 17th. StockNews.com cut shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 2nd. Finally, Santander initiated coverage on shares of Pilgrim’s Pride in a report on Wednesday, March 5th. They issued a “neutral” rating for the company. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus 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.