Allspring Global Investments Holdings LLC Sells 386,463 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Allspring Global Investments Holdings LLC trimmed its position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 89.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 47,428 shares of the company’s stock after selling 386,463 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Pilgrim’s Pride were worth $2,240,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Vestcor Inc boosted its position in Pilgrim’s Pride by 1.1% during the 3rd quarter. Vestcor Inc now owns 19,783 shares of the company’s stock valued at $911,000 after acquiring an additional 212 shares in the last quarter. CIBC Asset Management Inc boosted its position 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 worth $315,000 after purchasing an additional 216 shares in the last quarter. CWM LLC boosted its position in shares of Pilgrim’s Pride by 19.1% in the 3rd quarter. CWM LLC now owns 2,086 shares of the company’s stock worth $96,000 after purchasing an additional 334 shares in the last quarter. Loomis Sayles & Co. L P boosted its position 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 worth $602,000 after purchasing an additional 401 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Pilgrim’s Pride in the 3rd quarter worth approximately $27,000. 16.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. StockNews.com raised Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Barclays boosted their price target on Pilgrim’s Pride from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets boosted their price target on Pilgrim’s Pride from $42.00 to $43.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Pilgrim’s Pride currently has an average rating of “Hold” and a consensus target price of $45.50.

Pilgrim’s Pride Stock Performance

PPC stock opened at $53.13 on Friday. The stock has a market capitalization of $12.60 billion, a PE ratio of 11.65 and a beta of 0.82. Pilgrim’s Pride Co. has a 12-month low of $28.49 and a 12-month high of $57.16. 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 stock’s 50 day simple moving average is $47.80 and its 200 day simple moving average is $47.21.

About Pilgrim’s Pride

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.