Renaissance Technologies LLC Has $51.27 Million Stock Holdings in Pilgrim’s Pride Co. (NASDAQ:PPC)

Renaissance Technologies LLC reduced its holdings in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,129,513 shares of the company’s stock after selling 52,500 shares during the quarter. Renaissance Technologies LLC owned 0.48% of Pilgrim’s Pride worth $51,269,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. R Squared Ltd purchased a new position in Pilgrim’s Pride during the 4th quarter worth $59,000. Harbor Capital Advisors Inc. boosted its holdings 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 worth $61,000 after purchasing an additional 765 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Pilgrim’s Pride in the 4th quarter worth about $118,000. GAMMA Investing LLC increased its stake in Pilgrim’s Pride by 31.9% in the 4th quarter. GAMMA Investing LLC now owns 2,688 shares of the company’s stock valued at $122,000 after buying an additional 650 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Pilgrim’s Pride during the 3rd quarter worth approximately $141,000. 16.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Pilgrim’s Pride Stock Up 2.3 %

PPC stock opened at $51.53 on Friday. Pilgrim’s Pride Co. has a fifty-two week low of $33.67 and a fifty-two week high of $57.16. The stock has a fifty day moving average of $51.96 and a 200-day moving average of $49.26. The company has a market capitalization of $12.22 billion, a price-to-earnings ratio of 11.30 and a beta of 0.63. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01.

Pilgrim’s Pride Increases Dividend

The firm also recently declared 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. The ex-dividend date is Thursday, April 3rd. This is a positive change from Pilgrim’s Pride’s previous special dividend of $2.75.

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.