Pilgrim’s Pride Co. (NASDAQ:PPC) Stake Trimmed by Easterly Investment Partners LLC

Easterly Investment Partners LLC trimmed its position in Pilgrim’s Pride Co. (NASDAQ:PPC) by 33.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,254 shares of the company’s stock after selling 77,559 shares during the quarter. Easterly Investment Partners LLC owned approximately 0.07% of Pilgrim’s Pride worth $7,138,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in shares of Pilgrim’s Pride by 3.1% in the fourth 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. EntryPoint Capital LLC lifted its position in Pilgrim’s Pride by 98.1% in the 4th quarter. EntryPoint Capital LLC now owns 13,747 shares of the company’s stock worth $624,000 after buying an additional 6,809 shares in the last quarter. Prudential Financial Inc. lifted its position in Pilgrim’s Pride by 4.7% in the 4th quarter. Prudential Financial Inc. now owns 68,134 shares of the company’s stock worth $3,093,000 after buying an additional 3,052 shares in the last quarter. Vanguard Group Inc. boosted its stake 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 buying an additional 33,965 shares during the period. Finally, Stevens Capital Management LP acquired a new position in shares of Pilgrim’s Pride in the fourth quarter worth $225,000. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Trading Up 3.0 %

Shares of Pilgrim’s Pride stock opened at $52.59 on Thursday. The company’s fifty day moving average price is $50.46 and its two-hundred day moving average price is $48.44. The firm has a market capitalization of $12.47 billion, a PE ratio of 11.53 and a beta of 0.71. Pilgrim’s Pride Co. has a 52-week low of $33.67 and a 52-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.

Pilgrim’s Pride Increases Dividend

The business also recently disclosed a special dividend, which will be paid on Thursday, April 24th. Shareholders 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

PPC has been the topic of several research reports. Santander began coverage on Pilgrim’s Pride in a research report on Wednesday, March 5th. They issued a “neutral” rating on the stock. StockNews.com downgraded Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 2nd. Finally, BMO Capital Markets increased their price target on Pilgrim’s Pride from $47.00 to $48.00 and gave the company 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 issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average 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.