Corient Private Wealth LLC boosted its position in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 125.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,476 shares of the company's stock after purchasing an additional 6,396 shares during the period. Corient Private Wealth LLC's holdings in Pilgrim's Pride were worth $521,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of PPC. Jacobs Levy Equity Management Inc. grew its holdings in shares of Pilgrim's Pride by 903.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,455,513 shares of the company's stock worth $67,026,000 after purchasing an additional 1,310,530 shares during the last quarter. Geode Capital Management LLC boosted its position in Pilgrim's Pride by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 881,900 shares of the company's stock worth $40,620,000 after buying an additional 11,128 shares during the period. Assetmark Inc. boosted its position in Pilgrim's Pride by 2.6% during the 4th quarter. Assetmark Inc. now owns 849,276 shares of the company's stock worth $38,549,000 after buying an additional 21,575 shares during the period. Bank of New York Mellon Corp grew its holdings in Pilgrim's Pride by 15.6% during the 4th quarter. Bank of New York Mellon Corp now owns 429,440 shares of the company's stock worth $19,492,000 after acquiring an additional 57,837 shares during the last quarter. Finally, Martingale Asset Management L P raised its stake in shares of Pilgrim's Pride by 23.4% during the third quarter. Martingale Asset Management L P now owns 238,151 shares of the company's stock valued at $10,967,000 after acquiring an additional 45,172 shares during the last quarter. 16.64% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
PPC has been the topic of several analyst reports. Santander started coverage on shares of Pilgrim's Pride in a research note on Wednesday, March 5th. They issued a "neutral" rating on the stock. StockNews.com lowered Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 2nd. Finally, BMO Capital Markets raised their price objective on Pilgrim's Pride from $47.00 to $48.00 and gave the stock a "market perform" rating in a research report on Monday, March 17th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Pilgrim's Pride currently has a consensus rating of "Hold" and an average target price of $46.33.
Read Our Latest Analysis on Pilgrim's Pride
Pilgrim's Pride Trading Down 1.7 %
Shares of PPC stock traded down $0.96 during mid-day trading on Wednesday, hitting $55.30. The company's stock had a trading volume of 1,607,195 shares, compared to its average volume of 1,083,581. The company has a market cap of $13.11 billion, a PE ratio of 12.13 and a beta of 0.63. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01. The company's fifty day simple moving average is $51.41 and its 200-day simple moving average is $48.87. 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 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 $6.30 dividend. This is an increase from Pilgrim's Pride's previous special dividend of $2.75. The ex-dividend date is Thursday, April 3rd.
About Pilgrim's Pride
(
Free Report)
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.
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