Invesco Ltd. Has $51.08 Million Holdings in Pilgrim's Pride Co. (NASDAQ:PPC)

Invesco Ltd. lifted its stake in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 11.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,125,329 shares of the company's stock after purchasing an additional 119,555 shares during the period. Invesco Ltd. owned approximately 0.47% of Pilgrim's Pride worth $51,079,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Franklin Resources Inc. lifted its stake in Pilgrim's Pride by 325.8% in the third quarter. Franklin Resources Inc. now owns 55,071 shares of the company's stock valued at $2,485,000 after buying an additional 42,136 shares during the period. Ruffer LLP acquired a new position in shares of Pilgrim's Pride in the 4th quarter valued at $8,381,000. Illinois Municipal Retirement Fund raised its stake in Pilgrim's Pride by 30.0% during the 4th quarter. Illinois Municipal Retirement Fund now owns 58,289 shares of the company's stock worth $2,646,000 after buying an additional 13,459 shares during the period. Sigma Planning Corp raised its position in shares of Pilgrim's Pride by 73.9% during the fourth quarter. Sigma Planning Corp now owns 28,587 shares of the company's stock worth $1,298,000 after purchasing an additional 12,149 shares during the period. Finally, New Age Alpha Advisors LLC bought a new position in Pilgrim's Pride in the fourth quarter valued at approximately $249,000. 16.64% of the stock is owned by institutional investors.

Pilgrim's Pride Trading Up 0.1 %

Shares of PPC stock traded up $0.07 during mid-day trading on Monday, hitting $54.09. The company's stock had a trading volume of 72,939 shares, compared to its average volume of 1,120,839. Pilgrim's Pride Co. has a 52 week low of $33.67 and a 52 week high of $57.16. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01. The company's fifty day simple moving average is $52.39 and its 200-day simple moving average is $49.63. The company has a market cap of $12.84 billion, a PE ratio of 11.87 and a beta of 0.63.

Pilgrim's Pride Increases Dividend

The firm also recently declared a special dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd will be issued 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 is Thursday, April 3rd.

Analyst Upgrades and Downgrades

PPC has been the topic of a number of research analyst reports. BMO Capital Markets raised their price objective on shares of Pilgrim's Pride from $47.00 to $48.00 and gave the stock a "market perform" rating in a report on Monday, March 17th. 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. Finally, Santander initiated coverage on Pilgrim's Pride in a research report on Wednesday, March 5th. They issued a "neutral" rating on the stock. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently 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.