Pilgrim’s Pride Co. (NASDAQ:PPC) Holdings Decreased by Alliancebernstein L.P.

Alliancebernstein L.P. lowered its stake in Pilgrim’s Pride Co. (NASDAQ:PPC) by 20.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 69,830 shares of the company’s stock after selling 18,057 shares during the period. Alliancebernstein L.P.’s holdings in Pilgrim’s Pride were worth $3,170,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. R Squared Ltd bought a new position in shares of Pilgrim’s Pride in the fourth quarter valued at approximately $59,000. Harbor Capital Advisors Inc. raised its stake in shares of Pilgrim’s Pride by 132.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,344 shares of the company’s stock worth $61,000 after acquiring an additional 765 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Pilgrim’s Pride during the 4th quarter valued at about $118,000. GAMMA Investing LLC grew its stake in shares of Pilgrim’s Pride by 31.9% during the fourth quarter. GAMMA Investing LLC now owns 2,688 shares of the company’s stock worth $122,000 after purchasing an additional 650 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Pilgrim’s Pride during the third quarter worth $141,000. 16.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PPC shares. StockNews.com lowered Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 2nd. BMO Capital Markets raised their target price on shares of Pilgrim’s Pride from $47.00 to $48.00 and gave the company a “market perform” rating in a research report on Monday, March 17th. Finally, Santander began coverage on shares of Pilgrim’s Pride in a report on Wednesday, March 5th. They set a “neutral” rating for the company. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.33.

Pilgrim’s Pride Stock Performance

NASDAQ:PPC opened at $53.29 on Wednesday. The business has a fifty day simple moving average of $52.26 and a two-hundred day simple moving average of $49.46. 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 Co. has a 1 year low of $33.67 and a 1 year high of $57.16. The company has a market capitalization of $12.65 billion, a P/E ratio of 11.69 and a beta of 0.63.

Pilgrim’s Pride Increases Dividend

The company also recently announced 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 positive change from Pilgrim’s Pride’s previous special dividend of $2.75. The ex-dividend date is Thursday, April 3rd.

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.