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

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

Other institutional investors have also recently made changes to their positions in the company. Vestcor Inc lifted its holdings in shares of 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 acquiring an additional 212 shares during the last quarter. Xponance Inc. lifted its stake 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 purchasing an additional 225 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of 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 buying an additional 371 shares during the last quarter. Loomis Sayles & Co. L P grew its stake in shares of Pilgrim's Pride by 3.2% during the third quarter. Loomis Sayles & Co. L P now owns 13,079 shares of the company's stock valued at $602,000 after buying an additional 401 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in shares of Pilgrim's Pride by 3.2% in the fourth quarter. Amalgamated Bank now owns 19,033 shares of the company's stock worth $864,000 after buying an additional 585 shares during the period. Institutional investors own 16.64% of the company's stock.

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Pilgrim's Pride Trading Up 1.2 %

PPC stock traded up $0.65 on Thursday, reaching $53.24. The company's stock had a trading volume of 837,922 shares, compared to its average volume of 1,048,559. The firm has a market cap of $12.62 billion, a PE ratio of 11.68 and a beta of 0.71. The business has a fifty day simple moving average of $50.46 and a two-hundred day simple moving average of $48.44. Pilgrim's Pride Co. has a 12-month low of $33.67 and a 12-month high of $57.16. 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 Increases Dividend

The business also recently declared a special dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be paid a $6.30 dividend. 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

PPC has been the topic of several recent research reports. Santander initiated coverage on Pilgrim's Pride in a research report on Wednesday, March 5th. They set a "neutral" rating on the stock. StockNews.com lowered Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 2nd. Finally, BMO Capital Markets lifted 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 research note on Monday, March 17th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $46.33.

Pilgrim's Pride Company 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.