Trexquant Investment LP lowered its stake in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 9.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 315,788 shares of the company's stock after selling 34,793 shares during the quarter. Trexquant Investment LP owned about 0.13% of Pilgrim's Pride worth $14,334,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. boosted its holdings in Pilgrim's Pride by 325.8% in the third quarter. Franklin Resources Inc. now owns 55,071 shares of the company's stock valued at $2,485,000 after acquiring an additional 42,136 shares during the last quarter. Ruffer LLP acquired a new position in shares of Pilgrim's Pride in the 4th quarter valued at about $8,381,000. Illinois Municipal Retirement Fund lifted its stake in shares of Pilgrim's Pride by 30.0% in the 4th quarter. Illinois Municipal Retirement Fund now owns 58,289 shares of the company's stock valued at $2,646,000 after purchasing an additional 13,459 shares in the last quarter. Sigma Planning Corp grew its holdings in shares of Pilgrim's Pride by 73.9% during the 4th quarter. Sigma Planning Corp now owns 28,587 shares of the company's stock worth $1,298,000 after purchasing an additional 12,149 shares during the period. Finally, Norden Group LLC increased its position in Pilgrim's Pride by 61.6% during the 4th quarter. Norden Group LLC now owns 15,211 shares of the company's stock worth $690,000 after purchasing an additional 5,798 shares in the last quarter. Institutional investors and hedge funds own 16.64% of the company's stock.
Pilgrim's Pride Stock Down 2.1 %
PPC stock traded down $1.09 during trading on Friday, reaching $49.97. The stock had a trading volume of 1,741,459 shares, compared to its average volume of 1,093,447. The company has a current ratio of 2.01, a quick ratio of 1.31 and a debt-to-equity ratio of 0.75. The firm has a fifty day moving average price of $51.58 and a 200 day moving average price of $49.00. The company has a market capitalization of $11.85 billion, a P/E ratio of 10.96 and a beta of 0.63. Pilgrim's Pride Co. has a 1-year low of $33.67 and a 1-year high of $57.16.
Pilgrim's Pride Increases Dividend
The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, April 3rd. This is an increase from Pilgrim's Pride's previous special dividend of $2.75.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the stock. Santander began coverage on shares of Pilgrim's Pride in a research note on Wednesday, March 5th. They set a "neutral" rating for the company. StockNews.com cut shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 2nd. Finally, BMO Capital Markets raised their price objective on Pilgrim's Pride from $47.00 to $48.00 and gave the company a "market perform" rating in a research report on Monday, March 17th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Pilgrim's Pride has an average rating of "Hold" and a consensus price target of $46.33.
Check Out Our Latest Stock Report on Pilgrim's Pride
Pilgrim's Pride Company Profile
(
Free Report)
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.
Read More
Before you consider Pilgrim's Pride, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Pilgrim's Pride wasn't on the list.
While Pilgrim's Pride currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
