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Corebridge Financial Inc. trimmed its position in Pilgrim’s Pride Co. (NASDAQ:PPC – Free Report) by 4.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 45,663 shares of the company’s stock after selling 2,059 shares during the period. Corebridge Financial Inc.’s holdings in Pilgrim’s Pride were worth $2,073,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP increased its holdings in Pilgrim’s Pride by 295.8% in the 3rd quarter. Quarry LP now owns 946 shares of the company’s stock valued at $44,000 after buying an additional 707 shares during the period. R Squared Ltd acquired a new stake in shares of Pilgrim’s Pride during the 4th quarter valued at about $59,000. Harbor Capital Advisors Inc. increased its stake in Pilgrim’s Pride by 132.1% in 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 during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in Pilgrim’s Pride in the fourth quarter worth about $118,000. Finally, GAMMA Investing LLC lifted its stake in Pilgrim’s Pride by 31.9% during the fourth quarter. GAMMA Investing LLC now owns 2,688 shares of the company’s stock worth $122,000 after purchasing an additional 650 shares during the period. 16.64% of the stock is owned by institutional investors.
Analysts Set New Price Targets
PPC has been the subject of a number of recent research reports. 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 report on Monday, March 17th. StockNews.com lowered Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 2nd. Finally, Santander assumed coverage on shares of Pilgrim’s Pride in a research note on Wednesday, March 5th. They issued a “neutral” rating on the stock. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $46.33.
Check Out Our Latest Report on Pilgrim’s Pride
Pilgrim’s Pride Price Performance
Shares of PPC stock opened at $56.26 on Wednesday. Pilgrim’s Pride Co. has a 52 week low of $33.67 and a 52 week high of $57.16. The stock has a market capitalization of $13.34 billion, a PE ratio of 12.34 and a beta of 0.71. 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 stock’s fifty day moving average is $51.20 and its 200-day moving average is $48.82.
Pilgrim’s Pride Increases Dividend
The business also recently disclosed a special dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd will be given a $6.30 dividend. The ex-dividend date is Thursday, April 3rd. This is a boost from Pilgrim’s Pride’s previous special dividend of $2.75.
Pilgrim’s Pride 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.
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