Federated Hermes Inc. trimmed its holdings in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 25.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,286 shares of the company's stock after selling 14,386 shares during the quarter. Federated Hermes Inc.'s holdings in Pilgrim's Pride were worth $1,874,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the business. Xponance Inc. lifted its holdings in shares of Pilgrim's Pride by 3.7% during the 4th quarter. Xponance Inc. now owns 6,307 shares of the company's stock worth $286,000 after acquiring an additional 225 shares during the last quarter. CIBC Asset Management Inc raised its position in Pilgrim's Pride by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 7,207 shares of the company's stock valued at $327,000 after purchasing an additional 371 shares in the last quarter. Amalgamated Bank lifted its stake in Pilgrim's Pride by 3.2% during the fourth quarter. Amalgamated Bank now owns 19,033 shares of the company's stock worth $864,000 after purchasing an additional 585 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings 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 worth $165,000 after purchasing an additional 593 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in 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 buying an additional 650 shares in the last quarter. 16.64% of the stock is currently owned by institutional investors.
Pilgrim's Pride Trading Up 1.3 %
Shares of PPC stock traded up $0.67 during trading hours on Friday, reaching $54.01. The company's stock had a trading volume of 879,853 shares, compared to its average volume of 1,120,218. 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 has a market capitalization of $12.82 billion, a P/E ratio of 11.84 and a beta of 0.63. The firm's fifty day simple moving average is $52.36 and its 200 day simple moving average is $49.54. Pilgrim's Pride Co. has a one year low of $33.67 and a one year high of $57.16.
Pilgrim's Pride Increases Dividend
The business also recently disclosed 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 an increase from Pilgrim's Pride's previous special dividend of $2.75. The ex-dividend date of this dividend is Thursday, April 3rd.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on PPC. StockNews.com lowered Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 2nd. BMO Capital Markets raised their target price on shares of Pilgrim's Pride from $47.00 to $48.00 and gave the stock a "market perform" rating in a report on Monday, March 17th. Finally, Santander began coverage on shares of Pilgrim's Pride in a report on Wednesday, March 5th. They set a "neutral" rating for the company. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Pilgrim's Pride currently has an average rating of "Hold" and an average price target of $48.40.
View Our Latest Analysis on PPC
Pilgrim's Pride Company Profile
(
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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