Pilgrim's Pride Co. (NASDAQ:PPC) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP reduced its position in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 62.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,080 shares of the company's stock after selling 60,611 shares during the quarter. Quantbot Technologies LP's holdings in Pilgrim's Pride were worth $1,638,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. increased its stake in shares of Pilgrim's Pride by 903.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,455,513 shares of the company's stock worth $67,026,000 after acquiring an additional 1,310,530 shares during the last quarter. Geode Capital Management LLC increased its position in Pilgrim's Pride by 1.3% during the third quarter. Geode Capital Management LLC now owns 881,900 shares of the company's stock worth $40,620,000 after purchasing an additional 11,128 shares during the last quarter. Assetmark Inc. raised its stake in Pilgrim's Pride by 2.6% during the fourth quarter. Assetmark Inc. now owns 849,276 shares of the company's stock worth $38,549,000 after purchasing an additional 21,575 shares during the period. Bank of New York Mellon Corp boosted its holdings in Pilgrim's Pride by 15.6% in the 4th quarter. Bank of New York Mellon Corp now owns 429,440 shares of the company's stock valued at $19,492,000 after purchasing an additional 57,837 shares during the last quarter. Finally, Martingale Asset Management L P grew its stake in shares of Pilgrim's Pride by 23.4% in the 3rd quarter. Martingale Asset Management L P now owns 238,151 shares of the company's stock valued at $10,967,000 after buying an additional 45,172 shares during the period. Hedge funds and other institutional investors own 16.64% of the company's stock.

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Pilgrim's Pride Stock Up 0.6 %

PPC stock traded up $0.29 during midday trading on Tuesday, hitting $51.07. The company's stock had a trading volume of 1,196,639 shares, compared to its average volume of 1,046,482. The firm has a 50-day simple moving average of $50.22 and a 200-day simple moving average of $48.37. The firm has a market capitalization of $12.11 billion, a P/E ratio of 11.20 and a beta of 0.71. The company has a quick ratio of 1.31, a current ratio of 2.01 and a debt-to-equity ratio of 0.75. Pilgrim's Pride Co. has a 52-week low of $33.67 and a 52-week high of $57.16.

Pilgrim's Pride Increases Dividend

The company also recently announced a special dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be issued a $6.30 dividend. This is a boost from Pilgrim's Pride's previous special dividend of $2.75.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PPC shares. Santander initiated coverage on Pilgrim's Pride in a research report on Wednesday, March 5th. They issued a "neutral" rating for the company. StockNews.com lowered shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 2nd. Finally, BMO Capital Markets increased 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 research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Pilgrim's Pride has an average rating of "Hold" and an average target price of $46.33.

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.