Dark Forest Capital Management LP Decreases Stock Holdings in Pilgrim’s Pride Co. (NASDAQ:PPC)

by · The Markets Daily

Dark Forest Capital Management LP reduced its position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC – Free Report) by 14.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,408 shares of the company’s stock after selling 4,465 shares during the period. Dark Forest Capital Management LP’s holdings in Pilgrim’s Pride were worth $1,244,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Alpine Global Management LLC bought a new stake in Pilgrim’s Pride in the fourth quarter valued at $298,000. State of Tennessee Department of Treasury purchased a new stake in shares of Pilgrim’s Pride in the 4th quarter worth about $716,000. Tower Research Capital LLC TRC boosted its stake in shares of Pilgrim’s Pride by 255.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,725 shares of the company’s stock valued at $305,000 after purchasing an additional 4,832 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of Pilgrim’s Pride by 9.0% during the fourth quarter. MetLife Investment Management LLC now owns 22,908 shares of the company’s stock valued at $1,040,000 after buying an additional 1,883 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in Pilgrim’s Pride by 156.4% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 333,077 shares of the company’s stock worth $15,118,000 after buying an additional 203,192 shares in the last quarter. 16.64% of the stock is owned by institutional investors.

Pilgrim’s Pride Trading Up 0.1 %

NASDAQ PPC opened at $54.58 on Thursday. 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. The stock’s fifty day moving average price is $52.51 and its 200-day moving average price is $49.76. The stock has a market cap of $12.96 billion, a P/E ratio of 11.97 and a beta of 0.63.

Pilgrim’s Pride Increases Dividend

The company also recently announced a special dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd will be issued 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.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PPC. 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 research report on Monday, March 17th. StockNews.com lowered Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 2nd. Finally, Santander initiated coverage on shares of Pilgrim’s Pride in a report on Wednesday, March 5th. They set a “neutral” rating on the stock. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $48.40.

View Our Latest Stock Analysis on Pilgrim’s Pride

Pilgrim’s Pride Company Profile

(Free Report)

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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