Pilgrim's Pride Co. (NASDAQ:PPC) Stock Position Lowered by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its position in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 26.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,911 shares of the company's stock after selling 9,443 shares during the period. Teacher Retirement System of Texas' holdings in Pilgrim's Pride were worth $1,221,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Xponance Inc. grew its stake in shares of Pilgrim's Pride by 3.7% in the fourth quarter. Xponance Inc. now owns 6,307 shares of the company's stock worth $286,000 after purchasing an additional 225 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in Pilgrim's Pride by 125.9% in the fourth quarter. Corient Private Wealth LLC now owns 11,476 shares of the company's stock worth $521,000 after purchasing an additional 6,396 shares during the period. United Capital Management of KS Inc. grew its position in Pilgrim's Pride by 2.1% in the 4th quarter. United Capital Management of KS Inc. now owns 139,189 shares of the company's stock valued at $6,318,000 after buying an additional 2,873 shares in the last quarter. Swiss National Bank increased its stake in Pilgrim's Pride by 0.9% during the 4th quarter. Swiss National Bank now owns 93,300 shares of the company's stock valued at $4,235,000 after buying an additional 800 shares during the period. Finally, Truvestments Capital LLC raised its position in shares of Pilgrim's Pride by 1,972.1% during the 4th quarter. Truvestments Capital LLC now owns 6,320 shares of the company's stock worth $287,000 after buying an additional 6,015 shares in the last quarter. Institutional investors own 16.64% of the company's stock.

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Pilgrim's Pride Price Performance

Shares of NASDAQ:PPC traded down $0.96 on Wednesday, reaching $55.30. 1,607,195 shares of the company traded hands, compared to its average volume of 1,083,581. 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 has a market capitalization of $13.11 billion, a PE ratio of 12.13 and a beta of 0.63. The company's 50 day moving average is $51.41 and its 200-day moving average is $48.87. Pilgrim's Pride Co. has a fifty-two week low of $33.67 and a fifty-two week high of $57.16.

Pilgrim's Pride Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently commented on PPC. StockNews.com lowered shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 2nd. BMO Capital Markets increased their price target on 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. Finally, Santander initiated coverage on Pilgrim's Pride in a research note on Wednesday, March 5th. They issued a "neutral" rating on the stock. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company 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.