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Orion Portfolio Solutions LLC boosted its holdings in shares of Pilgrim’s Pride Co. (NASDAQ:PPC – Free Report) by 39.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,659 shares of the company’s stock after acquiring an additional 2,155 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Pilgrim’s Pride were worth $348,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of PPC. Vanguard Group Inc. grew its holdings in shares of Pilgrim’s Pride by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 5,113,888 shares of the company’s stock valued at $232,119,000 after acquiring an additional 33,965 shares in the last quarter. Geode Capital Management LLC boosted its position in Pilgrim’s Pride by 1.3% during the third 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. grew its stake in Pilgrim’s Pride by 2.6% in the fourth quarter. Assetmark Inc. now owns 849,276 shares of the company’s stock valued at $38,549,000 after purchasing an additional 21,575 shares in the last quarter. Bank of New York Mellon Corp increased its position in Pilgrim’s Pride by 15.6% in the 4th quarter. Bank of New York Mellon Corp now owns 429,440 shares of the company’s stock worth $19,492,000 after purchasing an additional 57,837 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Pilgrim’s Pride by 3.1% during the 4th quarter. JPMorgan Chase & Co. now owns 208,115 shares of the company’s stock worth $9,446,000 after purchasing an additional 6,331 shares in the last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.
Analysts Set New Price Targets
Several analysts have commented on the stock. 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. Santander began coverage on shares of Pilgrim’s Pride in a report on Wednesday, March 5th. They issued a “neutral” rating for the company. Finally, BMO Capital Markets increased their target price on shares of Pilgrim’s Pride from $47.00 to $48.00 and gave the stock a “market perform” rating in a research report on Monday, March 17th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Pilgrim’s Pride has a consensus rating of “Hold” and a consensus price target of $46.33.
Get Our Latest Stock Report on Pilgrim’s Pride
Pilgrim’s Pride Stock Performance
PPC stock opened at $49.08 on Wednesday. The company has a 50 day moving average price of $51.75 and a 200 day moving average price of $49.14. Pilgrim’s Pride Co. has a fifty-two week low of $33.67 and a fifty-two week high of $57.16. 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 $11.64 billion, a PE ratio of 10.76 and a beta of 0.63.
Pilgrim’s Pride Increases Dividend
The firm also recently disclosed a special dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd will be paid a $6.30 dividend. The ex-dividend date is Thursday, April 3rd. This is a boost from Pilgrim’s Pride’s previous special dividend of $2.75.
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.
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