Mutual of America Capital Management LLC Cuts Stake in Pilgrim’s Pride Co. (NASDAQ:PPC)

Mutual of America Capital Management LLC decreased its position in Pilgrim’s Pride Co. (NASDAQ:PPC) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,293 shares of the company’s stock after selling 495 shares during the period. Mutual of America Capital Management LLC’s holdings in Pilgrim’s Pride were worth $966,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Franklin Resources Inc. grew its holdings in Pilgrim’s Pride by 325.8% in the third quarter. Franklin Resources Inc. now owns 55,071 shares of the company’s stock valued at $2,485,000 after purchasing an additional 42,136 shares during the last quarter. Illinois Municipal Retirement Fund grew its position in shares of Pilgrim’s Pride by 30.0% in the fourth quarter. Illinois Municipal Retirement Fund now owns 58,289 shares of the company’s stock valued at $2,646,000 after purchasing an additional 13,459 shares during the last quarter. Sigma Planning Corp increased its stake in shares of Pilgrim’s Pride by 73.9% during the 4th quarter. Sigma Planning Corp now owns 28,587 shares of the company’s stock worth $1,298,000 after purchasing an additional 12,149 shares in the last quarter. World Investment Advisors LLC acquired a new position in shares of Pilgrim’s Pride during the 3rd quarter worth approximately $808,000. Finally, Exchange Traded Concepts LLC lifted its stake in Pilgrim’s Pride by 8.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 113,549 shares of the company’s stock valued at $5,154,000 after buying an additional 9,035 shares in the last quarter. 16.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 2nd. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $45.50.

Pilgrim’s Pride Stock Performance

Shares of PPC stock opened at $54.62 on Monday. Pilgrim’s Pride Co. has a one year low of $32.06 and a one year high of $57.16. The firm has a market capitalization of $12.95 billion, a price-to-earnings ratio of 11.98 and a beta of 0.71. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01. The company has a 50 day moving average price of $49.12 and a 200 day moving average price of $47.94.

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.