Amundi Sells 172,419 Shares of Pilgrim's Pride Co. (NASDAQ:PPC)

Amundi cut its holdings in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 44.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 219,535 shares of the company's stock after selling 172,419 shares during the period. Amundi owned 0.09% of Pilgrim's Pride worth $10,085,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PPC. Quarry LP grew its stake in Pilgrim's Pride by 295.8% in the third quarter. Quarry LP now owns 946 shares of the company's stock worth $44,000 after purchasing an additional 707 shares during the period. R Squared Ltd purchased a new stake in Pilgrim's Pride in the fourth quarter worth $59,000. Harbor Capital Advisors Inc. grew its stake in Pilgrim's Pride by 132.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,344 shares of the company's stock worth $61,000 after purchasing an additional 765 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Pilgrim's Pride in the fourth quarter worth $118,000. Finally, GAMMA Investing LLC grew its stake in shares of Pilgrim's Pride by 31.9% in the fourth quarter. GAMMA Investing LLC now owns 2,688 shares of the company's stock worth $122,000 after acquiring an additional 650 shares during the last quarter. 16.64% of the stock is owned by hedge funds and other institutional investors.

Pilgrim's Pride Stock Performance

Shares of NASDAQ:PPC traded up $0.07 during midday trading on Tuesday, reaching $49.67. 1,616,649 shares of the company's stock traded hands, compared to its average volume of 994,747. The company has a market cap of $11.78 billion, a price-to-earnings ratio of 10.89 and a beta of 0.71. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01. Pilgrim's Pride Co. has a one year low of $33.25 and a one year high of $57.16. The stock has a 50 day moving average of $49.76 and a 200 day moving average of $48.22.

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Pilgrim's Pride Increases Dividend

The company 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 $6.30 dividend. This is an increase from Pilgrim's Pride's previous special dividend of $2.75.

Wall Street Analyst Weigh In

A number of equities research analysts have 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 assumed coverage on Pilgrim's Pride in a research note on Wednesday, March 5th. They issued a "neutral" rating on the stock. Finally, BMO Capital Markets increased their target price on Pilgrim's Pride from $47.00 to $48.00 and gave the stock a "market perform" rating in a research note on Monday. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Pilgrim's Pride presently has an average rating of "Hold" and an average target price of $46.33.

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.