Pilgrim’s Pride Co. (NASDAQ:PPC) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP decreased its position in Pilgrim’s Pride Co. (NASDAQ:PPC) by 62.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 36,080 shares of the company’s stock after selling 60,611 shares during the period. Quantbot Technologies LP’s holdings in Pilgrim’s Pride were worth $1,638,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. raised its stake in shares of Pilgrim’s Pride by 903.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,455,513 shares of the company’s stock valued at $67,026,000 after purchasing an additional 1,310,530 shares in the last quarter. Ruffer LLP bought a new position in shares of Pilgrim’s Pride in the fourth quarter valued at approximately $8,381,000. Advisors Preferred LLC acquired a new position in shares of Pilgrim’s Pride during the fourth quarter valued at approximately $8,601,000. Zacks Investment Management acquired a new stake in Pilgrim’s Pride in the third quarter worth approximately $4,989,000. Finally, BNP Paribas Financial Markets boosted its stake in Pilgrim’s Pride by 106.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 158,826 shares of the company’s stock valued at $7,314,000 after purchasing an additional 81,727 shares in the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Performance

Shares of PPC stock opened at $50.78 on Tuesday. The stock’s fifty day simple moving average is $50.22 and its 200-day simple moving average is $48.37. The company has a market capitalization of $12.04 billion, a price-to-earnings ratio of 11.14 and a beta of 0.71. The company has a current ratio of 2.01, a quick ratio of 1.31 and a debt-to-equity ratio of 0.75. 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 announced a special dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd will be issued a $6.30 dividend. This is an increase from Pilgrim’s Pride’s previous special dividend of $2.75.

Analysts Set New Price Targets

Several analysts have recently weighed in on PPC shares. StockNews.com lowered Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 2nd. BMO Capital Markets raised 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 report on Monday, March 17th. Finally, Santander initiated coverage on shares of Pilgrim’s Pride in a report 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 issued a buy rating to the stock. According to data from MarketBeat.com, Pilgrim’s Pride presently has an average rating of “Hold” and a consensus target price of $46.33.

Pilgrim’s Pride Company 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.