5,226 Shares in Pilgrim’s Pride Co. (NASDAQ:PPC) Bought by AIA Group Ltd

AIA Group Ltd purchased a new position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,226 shares of the company’s stock, valued at approximately $237,000.

A number of other hedge funds also recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. lifted its position in shares of Pilgrim’s Pride by 903.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,455,513 shares of the company’s stock worth $67,026,000 after purchasing an additional 1,310,530 shares during the last quarter. Ruffer LLP purchased a new stake in Pilgrim’s Pride during the 4th quarter worth about $8,381,000. Advisors Preferred LLC acquired a new position in shares of Pilgrim’s Pride during the 4th quarter worth about $8,601,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Pilgrim’s Pride by 15.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,377,236 shares of the company’s stock worth $62,513,000 after acquiring an additional 180,164 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Pilgrim’s Pride in the 4th quarter valued at about $7,835,000. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Performance

Shares of PPC opened at $56.26 on Wednesday. The company’s 50 day simple moving average is $51.20 and its 200-day simple moving average is $48.82. The firm has a market cap of $13.34 billion, a PE ratio of 12.34 and a beta of 0.71. Pilgrim’s Pride Co. has a 12-month low of $33.67 and a 12-month high of $57.16. 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 Increases Dividend

The firm also recently disclosed a special dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd will be paid a $6.30 dividend. The ex-dividend date is Thursday, April 3rd. This is a positive change from Pilgrim’s Pride’s previous special dividend of $2.75.

Analyst Ratings Changes

PPC has been the subject of a number of research analyst reports. StockNews.com downgraded Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 2nd. Santander assumed coverage on shares of Pilgrim’s Pride in a report on Wednesday, March 5th. They issued a “neutral” rating for the company. Finally, BMO Capital Markets increased their target price on shares of Pilgrim’s Pride from $47.00 to $48.00 and gave the company a “market perform” rating in a research report on Monday, March 17th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the 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.