AIA Group Ltd Invests $237,000 in Pilgrim’s Pride Co. (NASDAQ:PPC)

AIA Group Ltd purchased a new position in Pilgrim’s Pride Co. (NASDAQ:PPC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,226 shares of the company’s stock, valued at approximately $237,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PPC. Wellington Management Group LLP lifted its position in Pilgrim’s Pride by 81.8% during the fourth quarter. Wellington Management Group LLP now owns 65,588 shares of the company’s stock worth $2,977,000 after buying an additional 29,505 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of Pilgrim’s Pride during the 4th quarter valued at about $2,472,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Pilgrim’s Pride by 15.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,377,236 shares of the company’s stock valued at $62,513,000 after acquiring an additional 180,164 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of Pilgrim’s Pride by 39.2% in the fourth quarter. Orion Portfolio Solutions LLC now owns 7,659 shares of the company’s stock valued at $348,000 after purchasing an additional 2,155 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new stake in Pilgrim’s Pride during the fourth quarter worth about $249,000. 16.64% of the stock is owned by hedge funds and other institutional investors.

Pilgrim’s Pride Trading Up 3.2 %

Shares of NASDAQ PPC opened at $56.26 on Wednesday. The stock has a fifty day simple moving average of $51.20 and a 200-day simple moving average of $48.82. Pilgrim’s Pride Co. has a twelve month low of $33.67 and a twelve month 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 stock has a market capitalization of $13.34 billion, a PE ratio of 12.34 and a beta of 0.71.

Pilgrim’s Pride Increases Dividend

The firm also recently declared a special dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd will be given a dividend of $6.30 per share. The ex-dividend date is Thursday, April 3rd. This is a boost from Pilgrim’s Pride’s previous special dividend of $2.75.

Analysts Set New Price Targets

Several research analysts recently weighed in on PPC shares. BMO Capital Markets increased their price objective on 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. StockNews.com cut Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 2nd. Finally, Santander started 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 given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.