Pilgrim's Pride Co. (NASDAQ:PPC) Stock Holdings Lessened by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lessened its stake in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 81.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,820 shares of the company's stock after selling 8,037 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Pilgrim's Pride were worth $80,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PPC. Quarry LP increased its stake in Pilgrim's Pride by 295.8% in the third quarter. Quarry LP now owns 946 shares of the company's stock valued at $44,000 after purchasing an additional 707 shares during the last quarter. R Squared Ltd acquired a new position in shares of Pilgrim's Pride during the 4th quarter valued at $59,000. Harbor Capital Advisors Inc. boosted its position 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 worth $61,000 after purchasing an additional 765 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Pilgrim's Pride in the fourth quarter valued at about $118,000. Finally, GAMMA Investing LLC boosted its position 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 buying an additional 650 shares during the period. Hedge funds and other institutional investors own 16.64% of the company's stock.

Pilgrim's Pride Stock Up 0.5 %

Shares of Pilgrim's Pride stock traded up $0.24 during trading on Tuesday, reaching $51.02. The company had a trading volume of 580,282 shares, compared to its average volume of 1,043,660. 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 fifty-two week low of $33.67 and a fifty-two week high of $57.16. The firm's fifty day moving average is $50.22 and its 200-day moving average is $48.37. The company has a market cap of $12.10 billion, a price-to-earnings ratio of 11.20 and a beta of 0.71.

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

Analysts Set New Price Targets

Several equities analysts recently commented on PPC shares. Santander began coverage on Pilgrim's Pride in a report on Wednesday, March 5th. They issued a "neutral" rating for the company. BMO Capital Markets raised their price target on shares of Pilgrim's Pride from $47.00 to $48.00 and gave the company a "market perform" rating in a report on Monday, March 17th. Finally, StockNews.com cut shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 2nd. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Pilgrim's Pride currently has a consensus rating of "Hold" and an average price target 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.