AXQ Capital LP Trims Stake in Pilgrim's Pride Co. (NASDAQ:PPC)

AXQ Capital LP trimmed its position in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 42.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,026 shares of the company's stock after selling 6,737 shares during the quarter. AXQ Capital LP's holdings in Pilgrim's Pride were worth $410,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PPC. Vestcor Inc grew its stake in Pilgrim's Pride by 1.1% in the 3rd quarter. Vestcor Inc now owns 19,783 shares of the company's stock worth $911,000 after buying an additional 212 shares in the last quarter. Xponance Inc. grew its position in Pilgrim's Pride by 3.7% in the fourth quarter. Xponance Inc. now owns 6,307 shares of the company's stock worth $286,000 after acquiring an additional 225 shares in the last quarter. CIBC Asset Management Inc increased its stake in Pilgrim's Pride by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 7,207 shares of the company's stock valued at $327,000 after acquiring an additional 371 shares during the last quarter. Loomis Sayles & Co. L P increased its position in shares of Pilgrim's Pride by 3.2% during the 3rd quarter. Loomis Sayles & Co. L P now owns 13,079 shares of the company's stock valued at $602,000 after purchasing an additional 401 shares during the last quarter. Finally, Amalgamated Bank lifted its position in Pilgrim's Pride by 3.2% in the 4th quarter. Amalgamated Bank now owns 19,033 shares of the company's stock worth $864,000 after buying an additional 585 shares during the last quarter. Institutional investors own 16.64% of the company's stock.

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Pilgrim's Pride Trading Up 0.8 %

Shares of PPC stock traded up $0.42 during mid-day trading on Tuesday, reaching $51.20. The stock had a trading volume of 885,221 shares, compared to its average volume of 1,043,660. The company has a current ratio of 2.01, a quick ratio of 1.31 and a debt-to-equity ratio of 0.75. The stock's 50-day moving average price is $50.22 and its two-hundred day moving average price is $48.37. The firm has a market capitalization of $12.14 billion, a PE ratio of 11.23 and a beta of 0.71. Pilgrim's Pride Co. has a 52-week low of $33.67 and a 52-week high of $57.16.

Pilgrim's Pride Increases Dividend

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

Analyst Upgrades and Downgrades

PPC has been the topic of a number of recent research reports. Santander initiated coverage on shares of Pilgrim's Pride in a research report on Wednesday, March 5th. They set a "neutral" rating on the stock. StockNews.com lowered shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 2nd. Finally, BMO Capital Markets boosted their price target on shares of Pilgrim's Pride from $47.00 to $48.00 and gave the stock a "market perform" rating in a research note on Monday, March 17th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus 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.