Arrowstreet Capital Limited Partnership Purchases 180,164 Shares of Pilgrim's Pride Co. (NASDAQ:PPC)

Arrowstreet Capital Limited Partnership boosted its stake in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 15.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,377,236 shares of the company's stock after buying an additional 180,164 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.58% of Pilgrim's Pride worth $62,513,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Quarry LP boosted its holdings in shares of Pilgrim's Pride by 295.8% during the third quarter. Quarry LP now owns 946 shares of the company's stock worth $44,000 after purchasing an additional 707 shares during the period. R Squared Ltd bought a new stake in shares of Pilgrim's Pride in the 4th quarter valued at approximately $59,000. Harbor Capital Advisors Inc. increased its holdings in Pilgrim's Pride by 132.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,344 shares of the company's stock worth $61,000 after buying an additional 765 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Pilgrim's Pride during the fourth quarter valued at approximately $118,000. Finally, GAMMA Investing LLC lifted 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 valued at $122,000 after acquiring an additional 650 shares during the last quarter. 16.64% of the stock is owned by hedge funds and other institutional investors.

Pilgrim's Pride Stock Performance

Shares of Pilgrim's Pride stock traded down $1.09 during trading on Friday, reaching $49.97. The company's stock had a trading volume of 1,741,459 shares, compared to its average volume of 1,093,447. The business's fifty day moving average price is $51.58 and its 200-day moving average price is $49.04. Pilgrim's Pride Co. has a one year low of $33.67 and a one year high of $57.16. The firm has a market cap of $11.85 billion, a price-to-earnings ratio of 10.96 and a beta of 0.63. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01.

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Pilgrim's Pride Increases Dividend

The business also recently disclosed a special dividend, which will be paid on Thursday, April 24th. Stockholders 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 is Thursday, April 3rd.

Analyst Ratings Changes

PPC has been the topic of a number of recent research reports. Santander began coverage on shares of Pilgrim's Pride in a report on Wednesday, March 5th. They set a "neutral" rating on the stock. BMO Capital Markets raised their target price on 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 downgraded Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 2nd. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently 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.