Thrivent Financial for Lutherans Reduces Stock Holdings in Pilgrim's Pride Co. (NASDAQ:PPC)

Thrivent Financial for Lutherans reduced its stake in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 99.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,485 shares of the company's stock after selling 918,511 shares during the quarter. Thrivent Financial for Lutherans' holdings in Pilgrim's Pride were worth $431,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PPC. Quarry LP boosted its stake in shares of Pilgrim's Pride by 295.8% during the 3rd quarter. Quarry LP now owns 946 shares of the company's stock worth $44,000 after acquiring an additional 707 shares in the last quarter. R Squared Ltd purchased a new position in Pilgrim's Pride during the fourth quarter worth approximately $59,000. Harbor Capital Advisors Inc. grew its holdings in Pilgrim's Pride by 132.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,344 shares of the company's stock valued at $61,000 after purchasing an additional 765 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Pilgrim's Pride in the fourth quarter valued at approximately $118,000. Finally, GAMMA Investing LLC increased 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 buying an additional 650 shares in the last quarter. 16.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PPC has been the topic of a number of research analyst reports. BMO Capital Markets lifted their price target 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. Santander started coverage on shares of Pilgrim's Pride in a research note on Wednesday, March 5th. They set a "neutral" rating for the company. Finally, StockNews.com downgraded shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 2nd. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Pilgrim's Pride presently has a consensus rating of "Hold" and a consensus target price of $46.33.

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Pilgrim's Pride Price Performance

PPC traded down $0.39 on Tuesday, reaching $49.08. 1,248,782 shares of the company's stock were exchanged, compared to its average volume of 1,101,421. The stock has a market cap of $11.64 billion, a PE ratio of 10.76 and a beta of 0.63. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.01 and a quick ratio of 1.31. Pilgrim's Pride Co. has a twelve month low of $33.67 and a twelve month high of $57.16. The stock's fifty day moving average price is $51.75 and its 200-day moving average price is $49.14.

Pilgrim's Pride Increases Dividend

The business also recently declared 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 of this dividend is Thursday, April 3rd. This is a positive change from Pilgrim's Pride's previous special dividend of $2.75.

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.