JPMorgan Chase & Co. Raises Holdings in Pilgrim's Pride Co. (NASDAQ:PPC)

JPMorgan Chase & Co. boosted its holdings in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 208,115 shares of the company's stock after acquiring an additional 6,331 shares during the period. JPMorgan Chase & Co. owned 0.09% of Pilgrim's Pride worth $9,446,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in PPC. R Squared Ltd acquired a new stake in shares of Pilgrim's Pride in the 4th quarter valued at $59,000. Harbor Capital Advisors Inc. grew 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 worth $61,000 after acquiring an additional 765 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in Pilgrim's Pride in the fourth quarter valued at approximately $118,000. GAMMA Investing LLC boosted its stake in Pilgrim's Pride by 31.9% during the fourth quarter. GAMMA Investing LLC now owns 2,688 shares of the company's stock worth $122,000 after acquiring an additional 650 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Pilgrim's Pride during the 3rd quarter worth about $141,000. Institutional investors and hedge funds own 16.64% of the company's stock.

Pilgrim's Pride Price Performance

PPC traded up $0.67 on Friday, hitting $54.01. 879,853 shares of the company's stock traded hands, compared to its average volume of 1,124,983. Pilgrim's Pride Co. has a one year low of $33.67 and a one year high of $57.16. The company's 50 day simple moving average is $52.39 and its 200-day simple moving average is $49.59. 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 firm has a market cap of $12.82 billion, a price-to-earnings ratio of 11.84 and a beta of 0.63.

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 paid a dividend of $6.30 per share. This is a boost 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

A number of research firms recently commented on PPC. Santander assumed coverage on Pilgrim's Pride in a research report on Wednesday, March 5th. They issued a "neutral" rating for the company. BMO Capital Markets upped 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, StockNews.com downgraded shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 2nd. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $48.40.

About Pilgrim's Pride

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.