Strs Ohio Sells 45,508 Shares of Pilgrim’s Pride Corporation $PPC

Strs Ohio lessened its stake in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 97.9% during the 3rd quarter, Holdings Channel reports. The firm owned 989 shares of the company’s stock after selling 45,508 shares during the quarter. Strs Ohio’s holdings in Pilgrim’s Pride were worth $40,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. True Wealth Design LLC raised its stake in Pilgrim’s Pride by 1,248.5% in the 3rd quarter. True Wealth Design LLC now owns 917 shares of the company’s stock valued at $37,000 after purchasing an additional 849 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in Pilgrim’s Pride during the second quarter worth about $45,000. Caitong International Asset Management Co. Ltd grew its position in shares of Pilgrim’s Pride by 117.5% during the second quarter. Caitong International Asset Management Co. Ltd now owns 1,231 shares of the company’s stock worth $55,000 after buying an additional 665 shares in the last quarter. Quent Capital LLC purchased a new position in shares of Pilgrim’s Pride in the 3rd quarter valued at about $55,000. Finally, Rosenberg Matthew Hamilton purchased a new stake in Pilgrim’s Pride in the second quarter valued at approximately $62,000. Institutional investors and hedge funds own 16.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PPC. The Goldman Sachs Group decreased their price target on Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Zacks Research raised shares of Pilgrim’s Pride from a “strong sell” rating to a “hold” rating in a research report on Friday, November 7th. Santander raised Pilgrim’s Pride from a “neutral” rating to an “outperform” rating in a research report on Thursday, December 11th. Wall Street Zen cut Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Pilgrim’s Pride in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $46.33.

Pilgrim’s Pride Stock Performance

Pilgrim’s Pride stock opened at $43.46 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.51 and a quick ratio of 0.78. The firm has a market capitalization of $10.32 billion, a P/E ratio of 8.42 and a beta of 0.43. Pilgrim’s Pride Corporation has a 52-week low of $35.73 and a 52-week high of $57.16. The stock has a fifty day moving average price of $40.35 and a two-hundred day moving average price of $41.48.

Pilgrim’s Pride Company Profile

Pilgrim’s Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim’s Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.

The company’s vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.