Hillsdale Investment Management Inc. Buys 900 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Hillsdale Investment Management Inc. increased its position in Pilgrim’s Pride Co. (NASDAQ:PPC) by 4.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 19,900 shares of the company’s stock after purchasing an additional 900 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Pilgrim’s Pride were worth $903,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PPC. Franklin Resources Inc. grew its stake in Pilgrim’s Pride by 325.8% in the third quarter. Franklin Resources Inc. now owns 55,071 shares of the company’s stock valued at $2,485,000 after acquiring an additional 42,136 shares during the period. Ruffer LLP acquired a new stake in Pilgrim’s Pride in the 4th quarter valued at $8,381,000. Illinois Municipal Retirement Fund increased its stake in Pilgrim’s Pride by 30.0% during the 4th quarter. Illinois Municipal Retirement Fund now owns 58,289 shares of the company’s stock valued at $2,646,000 after purchasing an additional 13,459 shares in the last quarter. Sigma Planning Corp raised its holdings in Pilgrim’s Pride by 73.9% during the fourth quarter. Sigma Planning Corp now owns 28,587 shares of the company’s stock worth $1,298,000 after buying an additional 12,149 shares during the last quarter. Finally, Norden Group LLC lifted its stake in shares of Pilgrim’s Pride by 61.6% in the fourth quarter. Norden Group LLC now owns 15,211 shares of the company’s stock valued at $690,000 after buying an additional 5,798 shares in the last quarter. 16.64% of the stock is owned by institutional investors.

Pilgrim’s Pride Stock Performance

PPC stock opened at $49.23 on Monday. The company has a quick ratio of 1.31, a current ratio of 2.01 and a debt-to-equity ratio of 0.75. The firm has a market cap of $11.67 billion, a PE ratio of 10.80 and a beta of 0.71. The business has a 50 day moving average of $50.12 and a 200-day moving average of $48.33. 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 firm 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 dividend of $6.30 per share. This is a boost from Pilgrim’s Pride’s previous special dividend of $2.75.

Analyst Ratings Changes

Several research firms have recently commented on PPC. BMO Capital Markets boosted 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 research report on Monday, March 17th. StockNews.com downgraded Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 2nd. Finally, Santander started coverage on Pilgrim’s Pride in a research report on Wednesday, March 5th. They set a “neutral” rating on the stock. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.