Victory Capital Management Inc. Sells 13,918 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Victory Capital Management Inc. lowered its holdings in Pilgrim’s Pride Co. (NASDAQ:PPC) by 16.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 72,751 shares of the company’s stock after selling 13,918 shares during the period. Victory Capital Management Inc.’s holdings in Pilgrim’s Pride were worth $3,302,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP grew its position in shares of Pilgrim’s Pride by 295.8% in the 3rd quarter. Quarry LP now owns 946 shares of the company’s stock worth $44,000 after buying an additional 707 shares during the last quarter. R Squared Ltd purchased a new position in Pilgrim’s Pride during the fourth quarter valued at $59,000. Harbor Capital Advisors Inc. raised its stake in 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 buying an additional 765 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Pilgrim’s Pride during the fourth quarter valued at $118,000. Finally, GAMMA Investing LLC raised its stake in shares of Pilgrim’s Pride by 31.9% in 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 last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. StockNews.com cut Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 2nd. Santander initiated coverage on Pilgrim’s Pride in a research note on Wednesday, March 5th. They issued a “neutral” rating for the company. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Pilgrim’s Pride currently has a consensus rating of “Hold” and a consensus target price of $45.50.

Pilgrim’s Pride Stock Down 1.3 %

Shares of NASDAQ:PPC opened at $49.62 on Monday. Pilgrim’s Pride Co. has a 52-week low of $33.25 and a 52-week high of $57.16. The stock has a market cap of $11.77 billion, a P/E ratio of 10.88 and a beta of 0.71. The business’s 50 day moving average is $49.69 and its 200 day moving average is $48.20. The company has a quick ratio of 1.31, a current ratio of 2.01 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. Stockholders of record on Thursday, April 3rd will be given a $6.30 dividend. 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.