Teza Capital Management LLC Reduces Position in Pilgrim's Pride Co. (NASDAQ:PPC)

Teza Capital Management LLC lessened its position in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 59.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,048 shares of the company's stock after selling 32,251 shares during the period. Teza Capital Management LLC's holdings in Pilgrim's Pride were worth $1,001,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Xponance Inc. grew its stake in shares of Pilgrim's Pride by 3.7% during the fourth quarter. Xponance Inc. now owns 6,307 shares of the company's stock valued at $286,000 after buying an additional 225 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Pilgrim's Pride by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 7,207 shares of the company's stock worth $327,000 after purchasing an additional 371 shares during the last quarter. Amalgamated Bank increased its stake in shares of Pilgrim's Pride by 3.2% in the fourth quarter. Amalgamated Bank now owns 19,033 shares of the company's stock worth $864,000 after buying an additional 585 shares during the period. Smartleaf Asset Management LLC raised its holdings in Pilgrim's Pride by 19.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,642 shares of the company's stock valued at $165,000 after buying an additional 593 shares during the last quarter. Finally, US Bancorp DE raised its holdings in Pilgrim's Pride by 23.3% during the 4th quarter. US Bancorp DE now owns 3,445 shares of the company's stock valued at $156,000 after buying an additional 650 shares during the last quarter. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

Pilgrim's Pride Price Performance

NASDAQ:PPC traded down $1.72 during trading hours on Thursday, hitting $49.19. 1,103,122 shares of the stock traded hands, compared to its average volume of 1,188,839. The company has a market cap of $11.66 billion, a price-to-earnings ratio of 10.79 and a beta of 0.51. Pilgrim's Pride Co. has a 1 year low of $33.70 and a 1 year high of $57.16. The stock has a 50 day moving average price of $50.88 and a 200 day moving average price of $50.17. 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 posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.05. Pilgrim's Pride had a return on equity of 32.83% and a net margin of 6.08%. The business had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same period in the prior year, the company posted $0.77 EPS. The firm's revenue for the quarter was up 2.3% compared to the same quarter last year. Sell-side analysts forecast that Pilgrim's Pride Co. will post 5.13 EPS for the current fiscal year.

Pilgrim's Pride Increases Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Santander began coverage on Pilgrim's Pride in a report on Wednesday, March 5th. They set a "neutral" rating on the stock. Wall Street Zen cut Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research note on Wednesday. Finally, BMO Capital Markets upped their target price 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. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Pilgrim's Pride presently has a consensus rating of "Hold" and a consensus price target of $48.40.

Pilgrim's Pride Company 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.