Dimensional Fund Advisors LP Sells 40,300 Shares of Pilgrim's Pride Co. (NASDAQ:PPC)

Dimensional Fund Advisors LP trimmed its stake in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,874,037 shares of the company's stock after selling 40,300 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.21% of Pilgrim's Pride worth $130,453,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Barclays PLC raised its position in Pilgrim's Pride by 345.6% during the third quarter. Barclays PLC now owns 76,364 shares of the company's stock worth $3,516,000 after acquiring an additional 59,228 shares in the last quarter. World Investment Advisors LLC acquired a new stake in Pilgrim's Pride in the 3rd quarter valued at about $808,000. Wilmington Savings Fund Society FSB acquired a new stake in Pilgrim's Pride in the 3rd quarter valued at about $141,000. Tidal Investments LLC grew its holdings in Pilgrim's Pride by 31.5% during the third quarter. Tidal Investments LLC now owns 43,745 shares of the company's stock worth $2,014,000 after purchasing an additional 10,489 shares during the period. Finally, Franklin Resources Inc. raised its stake in Pilgrim's Pride by 325.8% in the third quarter. Franklin Resources Inc. now owns 55,071 shares of the company's stock valued at $2,485,000 after buying an additional 42,136 shares during the period. Institutional investors and hedge funds own 16.64% of the company's stock.

Pilgrim's Pride Price Performance

PPC traded up $0.28 on Wednesday, hitting $54.26. 523,119 shares of the stock were exchanged, compared to its average volume of 1,132,535. The firm has a market capitalization of $12.88 billion, a price-to-earnings ratio of 11.90 and a beta of 0.63. 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 12 month low of $33.67 and a 12 month high of $57.16. The business has a 50-day moving average of $52.59 and a two-hundred day moving average of $50.03.

Pilgrim's Pride Increases Dividend

The company also recently disclosed a special dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 3rd were paid a $6.30 dividend. This is a boost from Pilgrim's Pride's previous special dividend of $2.75. The ex-dividend date of this dividend was Thursday, April 3rd.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PPC shares. 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 research note on Monday, March 17th. Santander assumed coverage on Pilgrim's Pride in a research report on Wednesday, March 5th. They issued a "neutral" rating on the stock. Finally, StockNews.com cut Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 2nd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $48.40.

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.