Teacher Retirement System of Texas Sells 9,443 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Teacher Retirement System of Texas lowered its position in Pilgrim’s Pride Co. (NASDAQ:PPC) by 26.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,911 shares of the company’s stock after selling 9,443 shares during the quarter. Teacher Retirement System of Texas’ holdings in Pilgrim’s Pride were worth $1,221,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Xponance Inc. lifted its stake in Pilgrim’s Pride by 3.7% in the 4th quarter. Xponance Inc. now owns 6,307 shares of the company’s stock valued at $286,000 after purchasing an additional 225 shares during the last quarter. Corient Private Wealth LLC raised its stake in Pilgrim’s Pride by 125.9% in the fourth quarter. Corient Private Wealth LLC now owns 11,476 shares of the company’s stock valued at $521,000 after buying an additional 6,396 shares during the period. United Capital Management of KS Inc. lifted its position in shares of Pilgrim’s Pride by 2.1% in the fourth quarter. United Capital Management of KS Inc. now owns 139,189 shares of the company’s stock valued at $6,318,000 after buying an additional 2,873 shares during the last quarter. Swiss National Bank boosted its stake in shares of Pilgrim’s Pride by 0.9% during the 4th quarter. Swiss National Bank now owns 93,300 shares of the company’s stock worth $4,235,000 after acquiring an additional 800 shares during the period. Finally, Truvestments Capital LLC increased its holdings in shares of Pilgrim’s Pride by 1,972.1% during the 4th quarter. Truvestments Capital LLC now owns 6,320 shares of the company’s stock worth $287,000 after acquiring an additional 6,015 shares during the last quarter. Institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Trading Up 0.3 %

PPC stock opened at $53.39 on Friday. Pilgrim’s Pride Co. has a 52 week low of $33.67 and a 52 week high of $57.16. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01. The company’s 50-day simple moving average is $50.78 and its 200 day simple moving average is $48.53. The company has a market capitalization of $12.66 billion, a PE ratio of 11.71 and a beta of 0.71.

Pilgrim’s Pride Increases Dividend

The firm also recently announced a special dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd will be issued a dividend of $6.30 per share. The ex-dividend date is Thursday, April 3rd. This is a boost from Pilgrim’s Pride’s previous special dividend of $2.75.

Analyst Ratings Changes

Several equities research analysts have issued reports on PPC shares. Santander assumed coverage on Pilgrim’s Pride in a report on Wednesday, March 5th. They set a “neutral” rating for the company. BMO Capital Markets lifted their target price on shares of Pilgrim’s Pride from $47.00 to $48.00 and gave the stock a “market perform” rating in a report on Monday, March 17th. Finally, StockNews.com cut shares of 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’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $46.33.

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.