Geode Capital Management LLC Raises Holdings in Pilgrim's Pride Co. (NASDAQ:PPC)

Geode Capital Management LLC increased its position in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 897,805 shares of the company's stock after acquiring an additional 15,905 shares during the quarter. Geode Capital Management LLC owned about 0.38% of Pilgrim's Pride worth $40,761,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PPC. R Squared Ltd bought a new stake in Pilgrim's Pride during the fourth quarter valued at $59,000. Harbor Capital Advisors Inc. boosted its holdings in Pilgrim's Pride by 132.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 1,344 shares of the company's stock valued at $61,000 after acquiring an additional 765 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Pilgrim's Pride in the fourth quarter worth $118,000. GAMMA Investing LLC boosted its position in Pilgrim's Pride by 31.9% during the 4th quarter. GAMMA Investing LLC now owns 2,688 shares of the company's stock valued at $122,000 after buying an additional 650 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Pilgrim's Pride during the third quarter worth about $141,000. Institutional investors own 16.64% of the company's stock.

Pilgrim's Pride Price Performance

NASDAQ PPC 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 1,122,653. The company has a market capitalization of $12.82 billion, a price-to-earnings ratio of 11.84 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. Pilgrim's Pride Co. has a 1 year low of $33.67 and a 1 year high of $57.16. The firm's 50-day moving average price is $52.39 and its 200-day moving average price is $49.58.

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 given a $6.30 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This is a positive change from Pilgrim's Pride's previous special dividend of $2.75.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. BMO Capital Markets boosted their price objective on shares of Pilgrim's Pride from $47.00 to $48.00 and gave the company a "market perform" rating in a research report on Monday, March 17th. StockNews.com cut Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 2nd. Finally, Santander assumed coverage on shares of Pilgrim's Pride in a report on Wednesday, March 5th. They set a "neutral" rating on the stock. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $48.40.

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.