Vident Advisory LLC Sells 20,704 Shares of Pilgrim's Pride Co. (NASDAQ:PPC)

Vident Advisory LLC lessened its holdings in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 79.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,326 shares of the company's stock after selling 20,704 shares during the quarter. Vident Advisory LLC's holdings in Pilgrim's Pride were worth $242,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Accredited Wealth Management LLC acquired a new stake in shares of Pilgrim's Pride in the 4th quarter valued at $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Pilgrim's Pride during the 4th quarter worth about $55,000. R Squared Ltd acquired a new position in Pilgrim's Pride during the 4th quarter worth about $59,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Pilgrim's Pride during the 4th quarter worth about $118,000. 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 worth $156,000 after purchasing an additional 650 shares during the last quarter. Institutional investors own 16.64% of the company's stock.

Pilgrim's Pride Stock Down 0.7%

Shares of NASDAQ PPC traded down $0.35 during trading hours on Tuesday, hitting $49.18. The company had a trading volume of 1,060,463 shares, compared to its average volume of 1,196,878. The stock has a market capitalization of $11.66 billion, a P/E ratio of 10.79 and a beta of 0.51. 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 Co. has a 1-year low of $33.70 and a 1-year high of $57.16. The firm's 50 day moving average is $50.55 and its 200-day moving average is $49.95.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.05. The business had revenue of $4.46 billion during 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 company's quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 EPS. On average, analysts expect that Pilgrim's Pride Co. will post 5.13 earnings per share for the current fiscal year.

Pilgrim's Pride Increases Dividend

The company also recently disclosed a special dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd were given a dividend of $6.30 per share. 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.

Wall Street Analyst Weigh In

PPC has been the topic of a number of research reports. Wall Street Zen downgraded shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 29th. BMO Capital Markets increased their target price on 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. Finally, Santander assumed coverage on Pilgrim's Pride in a research report on Wednesday, March 5th. They set a "neutral" rating for the company. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Pilgrim's Pride currently has a consensus rating of "Hold" and a consensus target price 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.