Renaissance Technologies LLC Has $51.27 Million Stock Position in Pilgrim's Pride Co. (NASDAQ:PPC)

Renaissance Technologies LLC cut its holdings in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,129,513 shares of the company's stock after selling 52,500 shares during the quarter. Renaissance Technologies LLC owned about 0.48% of Pilgrim's Pride worth $51,269,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its holdings in Pilgrim's Pride by 3.7% in the third quarter. Janus Henderson Group PLC now owns 21,860 shares of the company's stock valued at $1,007,000 after acquiring an additional 780 shares in the last quarter. Wellington Management Group LLP boosted its position in Pilgrim's Pride by 8.0% during the 3rd quarter. Wellington Management Group LLP now owns 36,083 shares of the company's stock worth $1,662,000 after acquiring an additional 2,682 shares during the period. XTX Topco Ltd increased its holdings in shares of Pilgrim's Pride by 128.5% during the third quarter. XTX Topco Ltd now owns 12,751 shares of the company's stock valued at $587,000 after purchasing an additional 7,171 shares during the period. Orion Portfolio Solutions LLC bought a new position in Pilgrim's Pride in the 3rd quarter valued at about $253,000. Finally, MML Investors Services LLC acquired a new position in Pilgrim's Pride during the 3rd quarter valued at about $268,000. Hedge funds and other institutional investors own 16.64% of the company's stock.

Pilgrim's Pride Stock Up 0.9 %

Shares of PPC traded up $0.46 on Wednesday, hitting $53.75. The company's stock had a trading volume of 361,997 shares, compared to its average volume of 1,114,307. The firm has a market capitalization of $12.76 billion, a price-to-earnings ratio of 11.79 and a beta of 0.63. 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 fifty-two week low of $33.67 and a fifty-two week high of $57.16. The firm's fifty day moving average price is $52.26 and its 200-day moving average price is $49.46.

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Pilgrim's Pride Increases Dividend

The firm also recently disclosed a special dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd will be given a $6.30 dividend. The ex-dividend date is Thursday, April 3rd. This is a positive change from Pilgrim's Pride's previous special dividend of $2.75.

Analyst Upgrades and Downgrades

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