Pilgrim's Pride Co. (NASDAQ:PPC) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its position in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 12.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,552 shares of the company's stock after selling 5,936 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Pilgrim's Pride were worth $1,886,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

PPC has been the topic of several recent analyst reports. BMO Capital Markets raised their price target on shares of Pilgrim's Pride from $47.00 to $48.00 and gave the stock a "market perform" rating in a research note on Monday, March 17th. StockNews.com lowered shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 2nd. Finally, Santander assumed coverage on Pilgrim's Pride in a report on Wednesday, March 5th. They issued a "neutral" rating for the company. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $48.40.

Pilgrim's Pride Stock Down 2.0 %

Shares of NASDAQ PPC traded down $0.93 during midday trading on Friday, reaching $45.82. 831,300 shares of the company's stock traded hands, compared to its average volume of 1,149,073. Pilgrim's Pride Co. has a one year low of $33.67 and a one year high of $57.16. The stock's 50 day simple moving average is $52.48 and its 200-day simple moving average is $50.07. The company has a market cap of $10.88 billion, a price-to-earnings ratio of 10.02 and a beta of 0.63. The company has a quick ratio of 1.31, a current ratio of 2.01 and a debt-to-equity ratio of 0.75.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $1.31 earnings per share for the quarter, beating analysts' consensus estimates of $1.26 by $0.05. The company had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.53 billion. Pilgrim's Pride had a return on equity of 32.83% and a net margin of 6.08%. The firm's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.77 earnings per share. On average, analysts predict that Pilgrim's Pride Co. will post 5.13 EPS for the current fiscal year.

Pilgrim's Pride Increases Dividend

The business also recently disclosed a special dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd were issued a dividend of $6.30 per share. The ex-dividend date was Thursday, April 3rd. This is an increase from Pilgrim's Pride's previous special dividend of $2.75.

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.