PAX Financial Group LLC Has $590,000 Stake in Pilgrim’s Pride Co. (NASDAQ:PPC)

PAX Financial Group LLC cut its stake in Pilgrim’s Pride Co. (NASDAQ:PPC) by 12.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,988 shares of the company’s stock after selling 1,821 shares during the period. PAX Financial Group LLC’s holdings in Pilgrim’s Pride were worth $590,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vestcor Inc grew its stake in shares of Pilgrim’s Pride by 1.1% during the 3rd quarter. Vestcor Inc now owns 19,783 shares of the company’s stock worth $911,000 after acquiring an additional 212 shares in the last quarter. Xponance Inc. grew its position in Pilgrim’s Pride by 3.7% in the fourth quarter. Xponance Inc. now owns 6,307 shares of the company’s stock valued at $286,000 after purchasing an additional 225 shares in the last quarter. CIBC Asset Management Inc increased its stake in Pilgrim’s Pride by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 7,207 shares of the company’s stock valued at $327,000 after buying an additional 371 shares during the last quarter. Amalgamated Bank lifted its position in Pilgrim’s Pride by 3.2% during the 4th quarter. Amalgamated Bank now owns 19,033 shares of the company’s stock worth $864,000 after buying an additional 585 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Pilgrim’s Pride by 19.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,642 shares of the company’s stock worth $165,000 after buying an additional 593 shares during the last quarter. Institutional investors own 16.64% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Santander began coverage on Pilgrim’s Pride in a research report on Wednesday, March 5th. They issued a “neutral” rating on the stock. BMO Capital Markets boosted their price target 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. Finally, StockNews.com cut Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 2nd. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Pilgrim’s Pride currently has an average rating of “Hold” and a consensus target price of $46.33.

Pilgrim’s Pride Stock Performance

Shares of NASDAQ PPC opened at $49.97 on Friday. 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 company has a market capitalization of $11.85 billion, a P/E ratio of 10.96 and a beta of 0.63. Pilgrim’s Pride Co. has a 12 month low of $33.67 and a 12 month high of $57.16. The stock has a 50 day moving average of $51.58 and a 200-day moving average of $48.94.

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 dividend of $6.30 per share. This is a boost from Pilgrim’s Pride’s previous special dividend of $2.75. The ex-dividend date of this dividend is Thursday, April 3rd.

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.