Amundi Cuts Stake in Pilgrim’s Pride Co. (NASDAQ:PPC)

Amundi reduced its stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 44.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 219,535 shares of the company’s stock after selling 172,419 shares during the quarter. Amundi owned about 0.09% of Pilgrim’s Pride worth $10,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in PPC. Pacer Advisors Inc. grew its holdings in Pilgrim’s Pride by 1,289.4% during the 3rd 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. grew 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 purchasing an additional 1,310,530 shares in the last quarter. Advisors Preferred LLC purchased a new position in shares of Pilgrim’s Pride in the fourth quarter valued at $8,601,000. Zacks Investment Management purchased a new position in shares of Pilgrim’s Pride in the third quarter valued at $4,989,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Pilgrim’s Pride by 106.0% in the third quarter. BNP Paribas Financial Markets now owns 158,826 shares of the company’s stock valued at $7,314,000 after purchasing an additional 81,727 shares in the last quarter. 16.64% of the stock is owned by hedge funds and other institutional investors.

Pilgrim’s Pride Stock Down 1.3 %

NASDAQ PPC opened at $49.62 on Friday. The company has a quick ratio of 1.31, a current ratio of 2.01 and a debt-to-equity ratio of 0.75. The company has a fifty day moving average of $49.66 and a two-hundred day moving average of $48.13. The firm has a market capitalization of $11.77 billion, a price-to-earnings ratio of 10.88 and a beta of 0.71. Pilgrim’s Pride Co. has a 52 week low of $33.25 and a 52 week high of $57.16.

Pilgrim’s Pride Increases Dividend

The company 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 dividend of $6.30 per share. This is a positive change from Pilgrim’s Pride’s previous special dividend of $2.75.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PPC shares. Santander started coverage on shares of Pilgrim’s Pride in a report on Wednesday, March 5th. They issued a “neutral” rating for the company. StockNews.com lowered shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $45.50.

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.