Sequoia Financial Advisors LLC Acquires 841 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Sequoia Financial Advisors LLC boosted its holdings in Pilgrim’s Pride Co. (NASDAQ:PPC) by 2.5% in the fourth quarter, Holdings Channel reports. The firm owned 34,835 shares of the company’s stock after purchasing an additional 841 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Pilgrim’s Pride were worth $1,581,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PPC. US Bancorp DE raised its stake in shares of Pilgrim’s Pride by 193.0% during the 3rd quarter. US Bancorp DE now owns 2,795 shares of the company’s stock worth $129,000 after purchasing an additional 1,841 shares in the last quarter. CIBC Asset Management Inc raised its position in Pilgrim’s Pride by 3.3% during the third quarter. CIBC Asset Management Inc now owns 6,836 shares of the company’s stock worth $315,000 after acquiring an additional 216 shares in the last quarter. Chesapeake Capital Corp IL raised its position in Pilgrim’s Pride by 27.9% during the third quarter. Chesapeake Capital Corp IL now owns 17,668 shares of the company’s stock worth $778,000 after acquiring an additional 3,855 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in Pilgrim’s Pride in the third quarter valued at $210,000. Finally, Moran Wealth Management LLC bought a new position in shares of Pilgrim’s Pride in the 3rd quarter valued at about $247,000. 16.64% of the stock is currently owned by institutional investors and hedge funds.

Pilgrim’s Pride Trading Down 1.3 %

Shares of PPC stock opened at $49.62 on Friday. Pilgrim’s Pride Co. has a 12-month low of $33.25 and a 12-month high of $57.16. The company has a market capitalization of $11.77 billion, a PE ratio of 10.88 and a beta of 0.71. The firm has a 50 day moving average price of $49.69 and a two-hundred day moving average price of $48.18. The company has a quick ratio of 1.31, a current ratio of 2.01 and a debt-to-equity ratio of 0.75.

Pilgrim’s Pride Increases Dividend

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

Wall Street Analysts Forecast Growth

PPC has been the topic of a number of research analyst reports. StockNews.com cut shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 2nd. Santander initiated coverage on Pilgrim’s Pride in a research report on Wednesday, March 5th. They issued a “neutral” rating for the company. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $45.50.

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.