Stevens Capital Management LP Invests $225,000 in Pilgrim’s Pride Co. (NASDAQ:PPC)

Stevens Capital Management LP bought a new stake in Pilgrim’s Pride Co. (NASDAQ:PPC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,961 shares of the company’s stock, valued at approximately $225,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP raised 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 valued at $44,000 after purchasing an additional 707 shares during the period. R Squared Ltd acquired a new stake in Pilgrim’s Pride during the 4th quarter valued at $59,000. Harbor Capital Advisors Inc. increased its stake in Pilgrim’s Pride by 132.1% during the 4th 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 Pilgrim’s Pride in the 4th quarter worth $118,000. Finally, GAMMA Investing LLC grew its stake in shares of Pilgrim’s Pride by 31.9% during 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 in the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Trading Up 3.1 %

Shares of NASDAQ PPC opened at $50.78 on Tuesday. The company has a market cap of $12.04 billion, a price-to-earnings ratio of 11.14 and a beta of 0.71. The stock’s 50 day simple moving average is $50.22 and its 200 day simple moving average is $48.37. 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 12-month low of $33.67 and a 12-month high of $57.16.

Pilgrim’s Pride Increases Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. StockNews.com cut Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 2nd. Santander began coverage on Pilgrim’s Pride in a research note on Wednesday, March 5th. They set a “neutral” rating on the stock. Finally, BMO Capital Markets lifted their target price on 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. 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 stock has a consensus rating of “Hold” and a consensus target price of $46.33.

About Pilgrim’s Pride

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.