Wellington Management Group LLP Boosts Holdings in Pilgrim's Pride Co. (NASDAQ:PPC)

Wellington Management Group LLP grew its holdings in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 81.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,588 shares of the company's stock after buying an additional 29,505 shares during the period. Wellington Management Group LLP's holdings in Pilgrim's Pride were worth $2,977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Barclays PLC lifted its stake 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 purchasing an additional 59,228 shares during the last quarter. Paragon Capital Management Inc. acquired a new stake in Pilgrim's Pride during the fourth quarter worth approximately $1,501,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Pilgrim's Pride during the fourth quarter worth approximately $118,000. Bleakley Financial Group LLC lifted its position in shares of Pilgrim's Pride by 10.9% during the 4th quarter. Bleakley Financial Group LLC now owns 14,724 shares of the company's stock worth $668,000 after buying an additional 1,448 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Pilgrim's Pride in the 4th quarter valued at $1,236,000. 16.64% of the stock is owned by institutional investors and hedge funds.

Pilgrim's Pride Stock Performance

PPC stock traded down $0.52 on Friday, hitting $46.97. The company's stock had a trading volume of 891,248 shares, compared to its average volume of 1,201,983. The stock has a market cap of $11.14 billion, a price-to-earnings ratio of 10.30 and a beta of 0.48. The firm has a 50 day moving average of $50.11 and a two-hundred day moving average of $49.83. The company has a current ratio of 2.01, a quick ratio of 1.31 and a debt-to-equity ratio of 0.75. Pilgrim's Pride Co. has a 1 year low of $33.94 and a 1 year high of $57.16.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.31 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.05. Pilgrim's Pride had a net margin of 6.08% and a return on equity of 32.83%. The company had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same period in the previous year, the business posted $0.77 earnings per share. Pilgrim's Pride's quarterly revenue was up 2.3% on a year-over-year basis. Equities 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. Shareholders of record on Thursday, April 3rd were paid a dividend of $6.30 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This is an increase from Pilgrim's Pride's previous special dividend of $2.75.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PPC shares. BMO Capital Markets lifted 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. Wall Street Zen cut Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 29th. Finally, Santander initiated 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 issued a buy rating to the stock. According to data from MarketBeat.com, Pilgrim's Pride has a consensus rating of "Hold" and a consensus 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.