Easterly Investment Partners LLC Sells 77,559 Shares of Pilgrim's Pride Co. (NASDAQ:PPC)

Easterly Investment Partners LLC trimmed its stake in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 33.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 157,254 shares of the company's stock after selling 77,559 shares during the quarter. Easterly Investment Partners LLC owned approximately 0.07% of Pilgrim's Pride worth $7,138,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Franklin Resources Inc. boosted its holdings in shares of Pilgrim's Pride by 325.8% in the third quarter. Franklin Resources Inc. now owns 55,071 shares of the company's stock worth $2,485,000 after acquiring an additional 42,136 shares during the period. Ruffer LLP bought a new position in Pilgrim's Pride in the 4th quarter worth about $8,381,000. Illinois Municipal Retirement Fund grew its holdings in Pilgrim's Pride by 30.0% during the 4th quarter. Illinois Municipal Retirement Fund now owns 58,289 shares of the company's stock valued at $2,646,000 after buying an additional 13,459 shares in the last quarter. Sigma Planning Corp increased its position in shares of Pilgrim's Pride by 73.9% during the fourth quarter. Sigma Planning Corp now owns 28,587 shares of the company's stock valued at $1,298,000 after buying an additional 12,149 shares during the period. Finally, Norden Group LLC increased its position in shares of Pilgrim's Pride by 61.6% during the fourth quarter. Norden Group LLC now owns 15,211 shares of the company's stock valued at $690,000 after buying an additional 5,798 shares during the period. 16.64% of the stock is owned by institutional investors.

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Pilgrim's Pride Price Performance

NASDAQ PPC traded up $0.15 during trading hours on Friday, reaching $53.39. 1,391,412 shares of the stock traded hands, compared to its average volume of 1,075,164. The stock has a 50 day simple moving average of $50.78 and a two-hundred day simple moving average of $48.57. Pilgrim's Pride Co. has a 1 year low of $33.67 and a 1 year high of $57.16. 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 company has a market cap of $12.66 billion, a price-to-earnings ratio of 11.71 and a beta of 0.71.

Pilgrim's Pride Increases Dividend

The firm also recently announced a special dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be given a $6.30 dividend. The ex-dividend date is Thursday, April 3rd. This is a boost from Pilgrim's Pride's previous special dividend of $2.75.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. BMO Capital Markets boosted their price objective on shares of Pilgrim's Pride from $47.00 to $48.00 and gave the company a "market perform" rating in a research note on Monday, March 17th. StockNews.com cut shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 2nd. Finally, Santander started coverage on Pilgrim's Pride in a research report on Wednesday, March 5th. They issued a "neutral" rating on the stock. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price 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.