Pilgrim’s Pride Co. (NASDAQ:PPC) Stake Decreased by Vestcor Inc

Vestcor Inc lessened its holdings in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 29.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,000 shares of the company’s stock after selling 5,783 shares during the period. Vestcor Inc’s holdings in Pilgrim’s Pride were worth $635,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. increased its holdings in shares of Pilgrim’s Pride by 1,289.4% in the third quarter. Pacer Advisors Inc. now owns 5,225,216 shares of the company’s stock valued at $240,621,000 after buying an additional 4,849,147 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of 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 buying an additional 1,310,530 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Pilgrim’s Pride by 1.3% in the third quarter. Geode Capital Management LLC now owns 881,900 shares of the company’s stock valued at $40,620,000 after buying an additional 11,128 shares in the last quarter. Assetmark Inc. increased its holdings in shares of 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 buying an additional 21,575 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Pilgrim’s Pride by 15.6% in 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. Institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Trading Down 1.3 %

NASDAQ PPC opened at $49.62 on Monday. Pilgrim’s Pride Co. has a twelve month low of $33.25 and a twelve month high of $57.16. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01. The stock has a market cap of $11.77 billion, a price-to-earnings ratio of 10.88 and a beta of 0.71. The firm’s 50 day moving average price is $49.69 and its two-hundred day moving average price is $48.20.

Pilgrim’s Pride Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PPC shares. Santander started coverage on Pilgrim’s Pride in a report on Wednesday, March 5th. They issued a “neutral” rating on the stock. StockNews.com cut shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 2nd. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $45.50.

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.