Pilgrim’s Pride Co. (NASDAQ:PPC) Stake Lowered by Quantbot Technologies LP

Quantbot Technologies LP trimmed its position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 62.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. lifted its stake in Pilgrim’s Pride by 903.9% in 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 acquiring an additional 1,310,530 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Pilgrim’s Pride by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 881,900 shares of the company’s stock valued at $40,620,000 after purchasing an additional 11,128 shares during the last quarter. Assetmark Inc. increased its position in Pilgrim’s Pride by 2.6% during the fourth quarter. Assetmark Inc. now owns 849,276 shares of the company’s stock worth $38,549,000 after buying an additional 21,575 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Pilgrim’s Pride by 15.6% during the fourth quarter. Bank of New York Mellon Corp now owns 429,440 shares of the company’s stock valued at $19,492,000 after buying an additional 57,837 shares in the last quarter. Finally, Martingale Asset Management L P lifted its position in shares of Pilgrim’s Pride by 23.4% in the third quarter. Martingale Asset Management L P now owns 238,151 shares of the company’s stock worth $10,967,000 after buying an additional 45,172 shares during the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Performance

Shares of NASDAQ PPC opened at $50.78 on Tuesday. Pilgrim’s Pride Co. has a 12 month low of $33.67 and a 12 month high of $57.16. The company has a market cap of $12.04 billion, a P/E ratio of 11.14 and a beta of 0.71. The business’s 50 day moving average is $50.22 and its two-hundred day moving average is $48.37. 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 Increases Dividend

The business also recently announced a special dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be given a dividend of $6.30 per share. This is a positive change from Pilgrim’s Pride’s previous special dividend of $2.75.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Santander initiated coverage on Pilgrim’s Pride in a report on Wednesday, March 5th. They set a “neutral” rating on the stock. StockNews.com downgraded Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 2nd. Finally, BMO Capital Markets boosted their price objective on shares of Pilgrim’s Pride from $47.00 to $48.00 and gave the stock a “market perform” rating in a research note on Monday, March 17th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus 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.