SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

SCHEDULE 13G
(Rule 13d-102)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b), (c), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No. 1)*

Pilgrims Pride


(Name of Issuer)

 

 

Common Stock


(Title of Class of Securities)

 

 

721467108


(CUSIP Number)

 

 

31 December 2006


(Date of Event Which Requires Filing of this Statement)

Check the  appropriate box to designate the rule pursuant to which this Schedule is filed:

x

Rule 13d-1(b)

o

Rule 13d-1(c)

o

Rule 13d-1(d)



1 The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

 

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (the “Act”) or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however, see the Notes.)

 




CUSIP No. 721467108

Schedule 13G

Page 2 of 8 Pages


1.

NAMES OF REPORTING PERSONS

 

 

 

I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

 

 

 

 

 

 

 

 

M&G Investment Management Limited

 

 

 

No I.R.S Identification Number

 

 






2.

CHECK THE APPROPRIATE BOX IF THE MEMBER OF A GROUP*

 

 

 

 

 

(a)

o

 

 

(b)

o





3.

SEC USE ONLY

 

 






4.

CITIZENSHIP OR PLACE OF ORGANIZATION

 

 

 

United Kingdom, England

 

 





NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH

5.

SOLE VOTING POWER

 

 

 

0

 

 





6.

SHARED VOTING POWER

 

 

 

5,970,000

 

 





7.

SOLE DISPOTIVE POWER

 

 

 

0

 

 





8.

SHARED DISPOTIVE POWER

 

 

 

5,970,000

 

 






9.

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

5,970,000

 

 






10.

CHECK BOX IF AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN

 

 

SHARES*

o

 






11.

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

 

 

8.96%

 

 

 






12.

TYPE OF REPORTING PERSON

 

 

 

IA

 

 

 








CUSIP No. 721467108

Schedule 13G

Page 3 of 8 Pages


1.

NAMES OF REPORTING PERSONS

 

 

 

I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

 

 

 

 

 

 

 

M&G Investment Funds 1

 

 

 

No I.R.S Identification Number

 

 





2.

CHECK THE APPROPRIATE BOX IF THE MEMBER OF A GROUP*

 

 

 

 

(a)

o

 

 

(b)

o





3.

SEC USE ONLY

 

 





4.

CITIZENSHIP OR PLACE OF ORGANIZATION

 

 

 

United Kingdom, England

 

 





 

5.

SOLE VOTING POWER

 

 

NUMBER OF

 

0

 

 

SHARES





BENEFICIALLY

6.

SHARED VOTING POWER

 

 

OWNED BY

 

5,970,000

 

 

EACH





REPORTING

7.

SOLE DISPOTIVE POWER

 

 

PERSON

 

0

 

 

WITH





 

8.

SHARED DISPOTIVE POWER

 

 

 

 

5,970,000

 

 



9.

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

5,970,000

 





10.

CHECK BOX IF AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN

 

SHARES*

o

 





11.

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

 

 

8.96%

 

 





12.

TYPE OF REPORTING PERSON

 

 

 

OO

 

 







CUSIP No. 721467108

Schedule 13G

Page 4 of 8 Pages


Item 1(a).

Name of Issuer:

 

 

 

 

Pilgrims Pride.

 

 

 

Item 1(b).

Address of Issuer’s Principal Executive Offices:

 

 

 

 

110 South Texas Street Pittsburg, TX 75686, United States

 

 

 

Item 2(a).

Name of Person Filing:

 

 

 

 

1.  M&G Investment Management Limited (MAGIM)

 

 

2.  M&G Investment Funds 1

 

 

 

Item 2(b).

Address of Principal Business Office or, if None, Residence:

 

 

 

 

 

Governor’s House, Laurence Pountney Hill, London, EC4R 0HH

 

 

 

Item 2(c).

Citizenship:

 

 

 

 

United Kingdom, England

 

 

 

Item 2(d).

Title of Class of Securities:

 

 

 

 

Common Stock

 

 

 

Item 2(e).

CUSIP Number:

 

 

 

 

721467108

 

 

 

Item 3.

Type of Person:

 

 

 

(e)

MAGIM is an investment advisor in accordance with s.240.13d-1(b)(1)(ii)(E)

 

 

 

 

M&G Investment Funds 1 is an open-ended investment company with variable capital, incorporated in England and Wales and authorized by the Financial Services Authority.  It is not registered with the Securities and Exchange Commission under the investment company act of 1940.

 

 

 

 

All of the securities covered by this report are owned legally by M&G Investment Funds 1, MAGIM’s investment advisory client, and none are owned directly by MAGIM

 

 

 

Item 4.

Ownership.

 

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

 

 

 

 

(a)

Amount Beneficially owned: 5,970,000 shares

 

 

 

 

(b)

Percent of Class: 8.96%

 

 

 

 

(c)

Number of shares as to which such person has:


 

 

M&G Investment Funds (1)

 

 

(i)

sole power to vote or to direct the vote

0

 

 

 


 

(ii)

shared power to vote or to direct the vote

5,970,000

 

 

 


 

(iii)

sole power to dispose or to direct the disposition of

0

 

 

 


 

(iv)

shared power to dispose or to direct the disposition of

5,970,000

 

 

 


 

 

 

 

 

 

M&G Investment Management Limited

 

 

(i)

sole power to vote or to direct the vote

0

 

 

 


 

(ii)

shared power to vote or to direct the vote

5,970,000

 

 

 


 

(iii)

sole power to dispose or to direct the disposition of

0

 

 

 


 

(iv)

shared power to dispose or to direct the disposition of

5,970,000

 

 

 






CUSIP No. 721467108

Schedule 13G

Page 5 of 8 Pages


Item 5.

Ownership of Five Percent or Less of Class.

 

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following

 

 

 

Not applicable.

 

 

Item 6.

Ownership of More than Five Percent on Behalf of Another Person.

 

 

 

Not applicable.

 

 

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company.

 

 

 

Not applicable.

 

 

Item 8.

Identification and Classification of Members of the Group.

 

 

 

Not applicable.

 

 

Item 9.

Notice of Dissolution of Group.

 

 

 

Not Applicable




CUSIP No. 721467108

Schedule 13G

Page 6 of 8 Pages


 

 

Item 10.

Certification.

 

 

 

(a) The following certification shall be included if the statement is filed pursuant to Rule 13d-1(b):

 

 

 

“By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. “




CUSIP No. 721467108

Schedule 13G

Page 7 of 8 Pages

 

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

By:

 --//Mark Thomas//--

 

 


 

Name:

Mark Thomas

 

Title:

Head of Group Funds

 

Date:

February 02, 2007




CUSIP No. 721467108

Schedule 13G

Page 8 of 8 Pages

Exhibit A

AGREEMENT OF JOINT FILING

In accordance with Rule 13d-1(k) under the Securities Exchanges Act of 1934, as amended, the undersigned hereby agrees that the foregoing statement on Schedule 13G/A, is filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements.  The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.

IN WITNESS WHEREOF, the undersigned hereby execute this Agreement on the 2nd day of February, 2007.

 

M&G INVESTMENT MANAGEMENT LIMITED

 

 

 

 

By

/s/ Mark Thomas

 

 


Date:  February 02, 2007

 

Head of Group Funds

 

 

 

 

 

 

M&G Investment Funds 1

 

 

 

 

By

/s/ Mark Thomas

 

 


Date:  February 02, 2007

 

Head of Group Funds