Pilgrim’s Pride Co. (NASDAQ:PPC) Stake Lifted by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership increased its position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 15.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,377,236 shares of the company’s stock after buying an additional 180,164 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Pilgrim’s Pride were worth $62,513,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC lifted its holdings in Pilgrim’s Pride by 4.6% in the 3rd quarter. Cerity Partners LLC now owns 40,000 shares of the company’s stock valued at $1,842,000 after acquiring an additional 1,773 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Pilgrim’s Pride by 27.7% during the third quarter. The Manufacturers Life Insurance Company now owns 151,344 shares of the company’s stock valued at $6,969,000 after purchasing an additional 32,836 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Pilgrim’s Pride by 106.0% during the third quarter. BNP Paribas Financial Markets now owns 158,826 shares of the company’s stock worth $7,314,000 after buying an additional 81,727 shares in the last quarter. Townsquare Capital LLC grew its position in Pilgrim’s Pride by 26.4% in the third quarter. Townsquare Capital LLC now owns 12,255 shares of the company’s stock worth $564,000 after buying an additional 2,556 shares during the last quarter. Finally, PEAK6 Investments LLC bought a new position in shares of Pilgrim’s Pride in the third quarter valued at $719,000. 16.64% of the stock is currently owned by institutional investors and hedge funds.

Pilgrim’s Pride Trading Up 3.2 %

Shares of NASDAQ PPC opened at $56.26 on Wednesday. The firm has a market capitalization of $13.34 billion, a PE ratio of 12.34 and a beta of 0.71. Pilgrim’s Pride Co. has a one year low of $33.67 and a one year high of $57.16. 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 business has a 50-day moving average price of $51.20 and a two-hundred day moving average price of $48.82.

Pilgrim’s Pride Increases Dividend

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

Analyst Upgrades and Downgrades

PPC has been the topic of a number of recent research reports. StockNews.com cut Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 2nd. Santander initiated coverage on Pilgrim’s Pride in a report on Wednesday, March 5th. They set a “neutral” rating on the stock. Finally, BMO Capital Markets raised 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 report on Monday, March 17th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $46.33.

About Pilgrim’s Pride

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.