Farther Finance Advisors LLC Has $120,000 Stock Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

Farther Finance Advisors LLC reduced its position in Pilgrim’s Pride Co. (NASDAQ:PPC) by 54.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,650 shares of the company’s stock after selling 3,138 shares during the period. Farther Finance Advisors LLC’s holdings in Pilgrim’s Pride were worth $120,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vestcor Inc increased its stake in shares of Pilgrim’s Pride by 1.1% in the 3rd quarter. Vestcor Inc now owns 19,783 shares of the company’s stock valued at $911,000 after buying an additional 212 shares during the period. CIBC Asset Management Inc increased its stake in shares of Pilgrim’s Pride by 3.3% in the 3rd quarter. CIBC Asset Management Inc now owns 6,836 shares of the company’s stock valued at $315,000 after buying an additional 216 shares during the period. Loomis Sayles & Co. L P increased its stake in shares of Pilgrim’s Pride by 3.2% in the 3rd quarter. Loomis Sayles & Co. L P now owns 13,079 shares of the company’s stock valued at $602,000 after buying an additional 401 shares during the period. Amalgamated Bank increased its stake in shares of Pilgrim’s Pride by 3.2% in the 4th quarter. Amalgamated Bank now owns 19,033 shares of the company’s stock valued at $864,000 after buying an additional 585 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in shares of Pilgrim’s Pride by 19.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,642 shares of the company’s stock valued at $165,000 after buying an additional 593 shares during the period. 16.64% of the stock is owned by institutional investors and hedge funds.

Pilgrim’s Pride Stock Performance

PPC stock opened at $51.93 on Friday. The business’s 50-day moving average price is $50.05 and its two-hundred day moving average price is $48.28. 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 firm has a market cap of $12.31 billion, a PE ratio of 11.39 and a beta of 0.71. Pilgrim’s Pride Co. has a 1-year low of $33.67 and a 1-year high of $57.16.

Pilgrim’s Pride Increases Dividend

The firm 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 dividend of $6.30 per share. This is a positive change from Pilgrim’s Pride’s previous special dividend of $2.75.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PPC shares. Santander started coverage on Pilgrim’s Pride in a research report on Wednesday, March 5th. They issued a “neutral” rating on the stock. BMO Capital Markets raised 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. Finally, StockNews.com lowered Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 2nd. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Pilgrim’s Pride presently has a consensus rating of “Hold” and an average price target of $46.33.

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.