5,226 Shares in Pilgrim's Pride Co. (NASDAQ:PPC) Bought by AIA Group Ltd

AIA Group Ltd purchased a new stake in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,226 shares of the company's stock, valued at approximately $237,000.

Other large investors have also added to or reduced their stakes in the company. Franklin Resources Inc. increased its holdings in Pilgrim's Pride by 325.8% in the 3rd quarter. Franklin Resources Inc. now owns 55,071 shares of the company's stock valued at $2,485,000 after buying an additional 42,136 shares during the period. Ruffer LLP bought a new position in Pilgrim's Pride in the fourth quarter valued at approximately $8,381,000. Illinois Municipal Retirement Fund raised its position in Pilgrim's Pride by 30.0% during the fourth 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 lifted its stake 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 purchasing an additional 12,149 shares during the last quarter. Finally, Norden Group LLC lifted its stake in Pilgrim's Pride by 61.6% during the fourth quarter. Norden Group LLC now owns 15,211 shares of the company's stock worth $690,000 after purchasing an additional 5,798 shares during the last quarter. Institutional investors and hedge funds own 16.64% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. BMO Capital Markets boosted their price target 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. Santander began coverage on Pilgrim's Pride in a research note on Wednesday, March 5th. They set a "neutral" rating for the company. Finally, StockNews.com downgraded shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 2nd. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Pilgrim's Pride has a consensus rating of "Hold" and an average target price of $46.33.

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Pilgrim's Pride Trading Down 2.1 %

Shares of PPC stock traded down $1.09 during mid-day trading on Friday, reaching $49.97. 1,741,459 shares of the stock traded hands, compared to its average volume of 1,093,447. The company has a market cap of $11.85 billion, a price-to-earnings ratio of 10.96 and a beta of 0.63. 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 stock's fifty day simple moving average is $51.58 and its two-hundred day simple moving average is $49.04. Pilgrim's Pride Co. has a 1-year low of $33.67 and a 1-year 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. Shareholders of record on Thursday, April 3rd will be issued 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 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.