Pilgrim’s Pride Co. (NASDAQ:PPC) Stake Cut by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,754 shares of the company’s stock after selling 924 shares during the quarter. Principal Financial Group Inc.’s holdings in Pilgrim’s Pride were worth $4,210,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PPC. Vestcor Inc boosted its position in Pilgrim’s Pride by 1.1% during the third quarter. Vestcor Inc now owns 19,783 shares of the company’s stock valued at $911,000 after purchasing an additional 212 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Pilgrim’s Pride by 3.3% during 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. Loomis Sayles & Co. L P lifted its holdings in shares of Pilgrim’s Pride by 3.2% during the 3rd quarter. Loomis Sayles & Co. L P now owns 13,079 shares of the company’s stock valued at $602,000 after buying an additional 401 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Pilgrim’s Pride in the 3rd quarter valued at approximately $27,000. Finally, Kovitz Investment Group Partners LLC grew its stake in shares of Pilgrim’s Pride by 1.0% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 61,311 shares of the company’s stock valued at $2,820,000 after buying an additional 598 shares in the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Performance

Shares of NASDAQ PPC opened at $54.76 on Tuesday. The business’s 50-day simple moving average is $48.51 and its 200-day simple moving average is $47.66. 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 52 week low of $31.60 and a 52 week high of $57.16. The firm has a market cap of $12.98 billion, a price-to-earnings ratio of 12.01 and a beta of 0.82.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $45.50.

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.