Jupiter Asset Management Ltd. Cuts Stake in Pilgrim’s Pride Co. (NASDAQ:PPC)

Jupiter Asset Management Ltd. lessened its stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 32.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 347,497 shares of the company’s stock after selling 168,814 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.15% of Pilgrim’s Pride worth $15,773,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its holdings in shares of Pilgrim’s Pride by 1,289.4% during the 3rd quarter. Pacer Advisors Inc. now owns 5,225,216 shares of the company’s stock valued at $240,621,000 after acquiring an additional 4,849,147 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of Pilgrim’s Pride by 903.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,455,513 shares of the company’s stock worth $67,026,000 after purchasing an additional 1,310,530 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Pilgrim’s Pride by 1.3% in the third quarter. Geode Capital Management LLC now owns 881,900 shares of the company’s stock worth $40,620,000 after buying an additional 11,128 shares during the last quarter. Assetmark Inc. grew its position in Pilgrim’s Pride by 2.6% during the fourth quarter. Assetmark Inc. now owns 849,276 shares of the company’s stock valued at $38,549,000 after buying an additional 21,575 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Pilgrim’s Pride by 15.6% during the fourth quarter. Bank of New York Mellon Corp now owns 429,440 shares of the company’s stock valued at $19,492,000 after buying an additional 57,837 shares during the last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Performance

Shares of PPC opened at $51.11 on Thursday. The company has a quick ratio of 1.31, a current ratio of 2.01 and a debt-to-equity ratio of 0.75. The business has a 50-day simple moving average of $49.60 and a two-hundred day simple moving average of $48.11. The stock has a market cap of $12.12 billion, a price-to-earnings ratio of 11.21 and a beta of 0.71. Pilgrim’s Pride Co. has a 52 week low of $32.65 and a 52 week high of $57.16.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PPC shares. Santander initiated coverage on shares of Pilgrim’s Pride in a research note on Wednesday, March 5th. They set a “neutral” rating on the stock. StockNews.com downgraded Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 2nd. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $45.50.

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.