Abacus FCF Advisors LLC Has $1.95 Million Holdings in Pilgrim's Pride Co. (NASDAQ:PPC)

Abacus FCF Advisors LLC lifted its position in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 50.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,026 shares of the company's stock after buying an additional 14,502 shares during the period. Abacus FCF Advisors LLC's holdings in Pilgrim's Pride were worth $1,953,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Vestcor Inc lifted its stake in Pilgrim's Pride by 1.1% in the third quarter. Vestcor Inc now owns 19,783 shares of the company's stock valued at $911,000 after buying an additional 212 shares in the last quarter. Xponance Inc. lifted its position in Pilgrim's Pride by 3.7% in the 4th quarter. Xponance Inc. now owns 6,307 shares of the company's stock valued at $286,000 after acquiring an additional 225 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Pilgrim's Pride by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 7,207 shares of the company's stock worth $327,000 after purchasing an additional 371 shares during the period. Amalgamated Bank increased its holdings in Pilgrim's Pride by 3.2% during the 4th quarter. Amalgamated Bank now owns 19,033 shares of the company's stock worth $864,000 after purchasing an additional 585 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Pilgrim's Pride by 19.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,642 shares of the company's stock valued at $165,000 after purchasing an additional 593 shares during the period. Institutional investors and hedge funds own 16.64% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. BMO Capital Markets increased their price objective on Pilgrim's Pride from $47.00 to $48.00 and gave the stock a "market perform" rating in a report on Monday, March 17th. StockNews.com cut shares of 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 shares of Pilgrim's Pride in a research report on Wednesday, March 5th. They issued a "neutral" rating on the stock. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $46.33.

Pilgrim's Pride Stock Up 2.5 %

Shares of NASDAQ:PPC traded up $1.28 during trading on Friday, hitting $52.81. 1,319,772 shares of the company were exchanged, compared to its average volume of 1,113,460. The stock has a market cap of $12.54 billion, a price-to-earnings ratio of 11.58 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 Co. has a fifty-two week low of $33.67 and a fifty-two week high of $57.16. The firm has a fifty day moving average price of $52.07 and a two-hundred day moving average price of $49.37.

Pilgrim's Pride Increases Dividend

The company 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 positive change 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 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.