Pilgrim's Pride Co. (NASDAQ:PPC) Shares Sold by First Trust Advisors LP

First Trust Advisors LP decreased its holdings in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 6.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 509,327 shares of the company's stock after selling 33,443 shares during the quarter. First Trust Advisors LP owned 0.21% of Pilgrim's Pride worth $23,118,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. R Squared Ltd purchased a new position in shares of Pilgrim's Pride during the 4th quarter valued at approximately $59,000. Harbor Capital Advisors Inc. raised its position in Pilgrim's Pride by 132.1% during the fourth 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. purchased a new position in Pilgrim's Pride during the fourth quarter valued at $118,000. GAMMA Investing LLC grew 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 valued at $122,000 after purchasing 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. Hedge funds and other institutional investors own 16.64% of the company's stock.

Pilgrim's Pride Trading Down 0.8 %

Shares of Pilgrim's Pride stock opened at $53.55 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.01 and a quick ratio of 1.31. The stock's 50 day simple moving average is $52.54 and its 200-day simple moving average is $49.87. The stock has a market cap of $12.71 billion, a P/E ratio of 11.74 and a beta of 0.63. Pilgrim's Pride Co. has a 1-year low of $33.67 and a 1-year high of $57.16.

Pilgrim's Pride Increases Dividend

The business also recently announced a special dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd were issued a $6.30 dividend. This is a boost from Pilgrim's Pride's previous special dividend of $2.75. The ex-dividend date of this dividend was Thursday, April 3rd.

Analyst Ratings Changes

PPC has been the topic of several research analyst reports. StockNews.com cut Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 2nd. BMO Capital Markets lifted their price target on 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. Finally, Santander began coverage on Pilgrim's Pride in a research note on Wednesday, March 5th. They issued a "neutral" rating for the company. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price 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.

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