Blue Trust Inc. Sells 267 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Blue Trust Inc. reduced its holdings in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 8.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,930 shares of the company’s stock after selling 267 shares during the period. Blue Trust Inc.’s holdings in Pilgrim’s Pride were worth $133,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. CWM LLC raised its position in Pilgrim’s Pride by 19.1% during the 3rd quarter. CWM LLC now owns 2,086 shares of the company’s stock valued at $96,000 after purchasing an additional 334 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Pilgrim’s Pride by 88.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 433,891 shares of the company’s stock worth $19,981,000 after purchasing an additional 203,408 shares during the period. International Assets Investment Management LLC lifted its holdings in Pilgrim’s Pride by 4,505.0% during the third quarter. International Assets Investment Management LLC now owns 74,693 shares of the company’s stock worth $3,440,000 after buying an additional 73,071 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new stake in Pilgrim’s Pride during the third quarter worth $274,000. Finally, Highland Capital Management LLC lifted its holdings in Pilgrim’s Pride by 459.8% during the third quarter. Highland Capital Management LLC now owns 33,244 shares of the company’s stock worth $1,531,000 after buying an additional 27,305 shares during the period. 16.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Pilgrim’s Pride Stock Up 2.5 %

PPC opened at $53.13 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01. Pilgrim’s Pride Co. has a fifty-two week low of $28.49 and a fifty-two week high of $57.16. The company has a fifty day moving average of $47.80 and a two-hundred day moving average of $47.21. The stock has a market capitalization of $12.60 billion, a price-to-earnings ratio of 11.65 and a beta of 0.82.

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.