Pilgrim's Pride Co. (NASDAQ:PPC) Stock Position Trimmed by Headlands Technologies LLC

Headlands Technologies LLC decreased its stake in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 76.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,368 shares of the company's stock after selling 10,756 shares during the period. Headlands Technologies LLC's holdings in Pilgrim's Pride were worth $153,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Quarry LP raised its stake in shares of Pilgrim's Pride by 295.8% during the third quarter. Quarry LP now owns 946 shares of the company's stock valued at $44,000 after purchasing an additional 707 shares during the period. R Squared Ltd purchased a new position in Pilgrim's Pride in the 4th quarter valued at about $59,000. Harbor Capital Advisors Inc. grew its stake in shares of Pilgrim's Pride by 132.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 1,344 shares of the company's stock valued at $61,000 after acquiring an additional 765 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Pilgrim's Pride during the fourth quarter worth about $118,000. Finally, GAMMA Investing LLC boosted its holdings in Pilgrim's Pride by 31.9% in the fourth quarter. GAMMA Investing LLC now owns 2,688 shares of the company's stock valued at $122,000 after purchasing an additional 650 shares during the last quarter. Hedge funds and other institutional investors own 16.64% of the company's stock.

Pilgrim's Pride Stock Performance

PPC traded up $0.47 on Thursday, hitting $50.84. 282,568 shares of the company's stock were exchanged, compared to its average volume of 1,370,819. The company has a current ratio of 2.01, a quick ratio of 1.31 and a debt-to-equity ratio of 0.75. The stock has a fifty day moving average of $51.88 and a two-hundred day moving average of $49.20. Pilgrim's Pride Co. has a twelve month low of $33.67 and a twelve month high of $57.16. The firm has a market cap of $12.06 billion, a PE ratio of 11.16 and a beta of 0.63.

Pilgrim's Pride Increases Dividend

The business also recently declared a special dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be issued a $6.30 dividend. This is an increase from Pilgrim's Pride's previous special dividend of $2.75. The ex-dividend date is Thursday, April 3rd.

Wall Street Analyst Weigh In

Several research firms have issued reports on PPC. Santander assumed coverage on Pilgrim's Pride in a report on Wednesday, March 5th. They set a "neutral" rating on the stock. BMO Capital Markets increased their price objective on shares of 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. Finally, StockNews.com downgraded shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 2nd. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $46.33.

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.