Paloma Partners Management Co trimmed its holdings in shares of Pilgrim's Pride Co. (NASDAQ:PPC) by 42.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 22,281 shares of the company’s stock after selling 16,528 shares during the quarter. Paloma Partners Management Co’s holdings in Pilgrim's Pride were worth $692,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the business. Arrowstreet Capital Limited Partnership increased its holdings in shares of Pilgrim's Pride by 165.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,940,271 shares of the company’s stock worth $60,265,000 after acquiring an additional 1,209,046 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Pilgrim's Pride by 14.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,152,325 shares of the company’s stock worth $117,970,000 after acquiring an additional 528,588 shares during the period. Schroder Investment Management Group increased its holdings in shares of Pilgrim's Pride by 2,806.0% in the 3rd quarter. Schroder Investment Management Group now owns 531,800 shares of the company’s stock worth $15,109,000 after acquiring an additional 513,500 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Pilgrim's Pride by 101.5% in the 4th quarter. Renaissance Technologies LLC now owns 840,613 shares of the company’s stock worth $26,109,000 after acquiring an additional 423,500 shares during the period. Finally, Allianz Asset Management GmbH increased its holdings in shares of Pilgrim's Pride by 42.7% in the 4th quarter. Allianz Asset Management GmbH now owns 981,839 shares of the company’s stock worth $30,496,000 after acquiring an additional 293,568 shares during the period. 25.10% of the stock is currently owned by institutional investors.

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A number of analysts recently weighed in on PPC shares. BidaskClub cut shares of Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 12th. ValuEngine cut shares of Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a report on Friday, December 15th. Zacks Investment Research cut shares of Pilgrim's Pride from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 4th. BMO Capital Markets dropped their price objective on shares of Pilgrim's Pride to $31.00 and set a “market perform” rating on the stock in a report on Friday, February 16th. Finally, Morgan Stanley set a $25.00 price objective on shares of Pilgrim's Pride and gave the stock a “hold” rating in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. Pilgrim's Pride currently has a consensus rating of “Hold” and an average target price of $28.75.

Pilgrim's Pride stock opened at $24.89 on Thursday. The stock has a market cap of $6,261.10, a PE ratio of 8.74 and a beta of 0.16. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.73 and a quick ratio of 0.87. Pilgrim's Pride Co. has a 12-month low of $20.28 and a 12-month high of $38.39.

In related news, CEO William W. Lovette sold 100,000 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $25.36, for a total value of $2,536,000.00. Following the completion of the transaction, the chief executive officer now owns 578,653 shares in the company, valued at approximately $14,674,640.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 78.81% of the company’s stock.

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About Pilgrim's Pride

Pilgrim’s Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.

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Institutional Ownership by Quarter for Pilgrim's Pride (NASDAQ:PPC)

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