Virtu Financial LLC Acquires Shares of 23,988 Pilgrim’s Pride Co. (NASDAQ:PPC)

Virtu Financial LLC purchased a new position in Pilgrim’s Pride Co. (NASDAQ:PPC) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 23,988 shares of the company’s stock, valued at approximately $1,089,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP lifted its holdings in shares of Pilgrim’s Pride by 295.8% in the third quarter. Quarry LP now owns 946 shares of the company’s stock worth $44,000 after buying an additional 707 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Pilgrim’s Pride in the fourth quarter worth about $59,000. Harbor Capital Advisors Inc. increased its position 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 purchasing an additional 765 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Pilgrim’s Pride in the fourth quarter worth approximately $118,000. Finally, GAMMA Investing LLC increased its position 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 purchasing an additional 650 shares during the last quarter. 16.64% of the stock is owned by hedge funds and other institutional investors.

Pilgrim’s Pride Stock Down 5.2 %

Shares of NASDAQ PPC opened at $49.23 on Monday. 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 current ratio of 2.01 and a quick ratio of 1.31. The firm’s 50 day simple moving average is $50.12 and its two-hundred day simple moving average is $48.33. The stock has a market capitalization of $11.67 billion, a P/E ratio of 10.80 and a beta of 0.71.

Pilgrim’s Pride Increases Dividend

The firm also recently declared a special dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd will be given a dividend of $6.30 per share. This is a boost from Pilgrim’s Pride’s previous special dividend of $2.75.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PPC shares. Santander started coverage on shares of Pilgrim’s Pride in a research report on Wednesday, March 5th. They issued a “neutral” rating on the stock. BMO Capital Markets upped their price objective on shares of Pilgrim’s Pride from $47.00 to $48.00 and gave the stock a “market perform” rating in a research report on Monday, March 17th. Finally, StockNews.com cut shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 2nd. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.33.

Pilgrim’s Pride Company 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.