Corient Private Wealth LLC Raises Stock Holdings in Pilgrim’s Pride Co. (NASDAQ:PPC)

Corient Private Wealth LLC boosted its stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 125.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,476 shares of the company’s stock after buying an additional 6,396 shares during the quarter. Corient Private Wealth LLC’s holdings in Pilgrim’s Pride were worth $521,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PPC. Jacobs Levy Equity Management Inc. raised its holdings in shares of Pilgrim’s Pride by 903.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,455,513 shares of the company’s stock valued at $67,026,000 after buying an additional 1,310,530 shares during the period. Geode Capital Management LLC increased its stake in Pilgrim’s Pride by 1.3% during the third quarter. Geode Capital Management LLC now owns 881,900 shares of the company’s stock worth $40,620,000 after purchasing an additional 11,128 shares during the period. Assetmark Inc. lifted its position in shares of Pilgrim’s Pride by 2.6% during the fourth quarter. Assetmark Inc. now owns 849,276 shares of the company’s stock worth $38,549,000 after purchasing an additional 21,575 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Pilgrim’s Pride by 15.6% in the fourth quarter. Bank of New York Mellon Corp now owns 429,440 shares of the company’s stock valued at $19,492,000 after purchasing an additional 57,837 shares during the period. Finally, Martingale Asset Management L P grew its holdings in shares of Pilgrim’s Pride by 23.4% in the third quarter. Martingale Asset Management L P now owns 238,151 shares of the company’s stock valued at $10,967,000 after purchasing an additional 45,172 shares in the last quarter. 16.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Santander assumed coverage on shares of Pilgrim’s Pride in a report on Wednesday, March 5th. They set a “neutral” rating on the stock. BMO Capital Markets lifted their target price on Pilgrim’s Pride from $47.00 to $48.00 and gave the company a “market perform” rating in a report on Monday, March 17th. Finally, StockNews.com downgraded Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 2nd. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $46.33.

Pilgrim’s Pride Stock Performance

NASDAQ:PPC opened at $53.39 on Friday. Pilgrim’s Pride Co. has a 12 month low of $33.67 and a 12 month high of $57.16. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.01 and a quick ratio of 1.31. The firm has a market capitalization of $12.66 billion, a PE ratio of 11.71 and a beta of 0.71. The business’s fifty day moving average price is $50.78 and its 200 day moving average price is $48.57.

Pilgrim’s Pride Increases Dividend

The firm also recently disclosed a special dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be issued a $6.30 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This is an increase from Pilgrim’s Pride’s previous special dividend of $2.75.

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.