Bryce Point Capital LLC Makes New $469,000 Investment in Pilgrim’s Pride Co. (NASDAQ:PPC)

Bryce Point Capital LLC acquired a new stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 10,336 shares of the company’s stock, valued at approximately $469,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PPC. Ruffer LLP bought a new stake in Pilgrim’s Pride during the fourth quarter valued at about $8,381,000. Advisors Preferred LLC bought a new position in shares of Pilgrim’s Pride during the 4th quarter valued at approximately $8,601,000. Arrowstreet Capital Limited Partnership increased its holdings in Pilgrim’s Pride by 15.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,377,236 shares of the company’s stock worth $62,513,000 after acquiring an additional 180,164 shares in the last quarter. Norges Bank bought a new stake in Pilgrim’s Pride during the 4th quarter worth approximately $7,835,000. Finally, Zacks Investment Management purchased a new position in Pilgrim’s Pride during the third quarter valued at approximately $4,989,000. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PPC has been the subject of a number of analyst reports. BMO Capital Markets increased 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 note on Monday, March 17th. StockNews.com cut Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 2nd. Finally, Santander began coverage on Pilgrim’s Pride in a research report on Wednesday, March 5th. They issued a “neutral” rating on the stock. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Pilgrim’s Pride presently has a consensus rating of “Hold” and a consensus price target of $46.33.

Pilgrim’s Pride Price Performance

NASDAQ:PPC opened at $49.97 on Friday. The business’s 50-day moving average is $51.58 and its 200 day moving average is $48.94. Pilgrim’s Pride Co. has a 12 month low of $33.67 and a 12 month high of $57.16. The company has a market capitalization of $11.85 billion, a P/E ratio of 10.96 and a beta of 0.63. 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 Increases Dividend

The company also recently announced a special dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd will be given a dividend of $6.30 per share. This is an increase from Pilgrim’s Pride’s previous special dividend of $2.75. The ex-dividend date of this dividend is Thursday, April 3rd.

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.