South Dakota Investment Council Sells 42,366 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

South Dakota Investment Council lessened its position in Pilgrim’s Pride Co. (NASDAQ:PPC) by 31.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,519 shares of the company’s stock after selling 42,366 shares during the period. South Dakota Investment Council’s holdings in Pilgrim’s Pride were worth $4,109,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. grew its position in shares of Pilgrim’s Pride by 1,289.4% in 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 period. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Pilgrim’s Pride by 903.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,455,513 shares of the company’s stock worth $67,026,000 after buying 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% during the 3rd 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 period. Assetmark Inc. boosted its holdings in shares of Pilgrim’s Pride by 145,879.0% during the 3rd quarter. Assetmark Inc. now owns 827,701 shares of the company’s stock worth $38,116,000 after buying an additional 827,134 shares during the period. Finally, Martingale Asset Management L P boosted its holdings in shares of Pilgrim’s Pride by 23.4% during the 3rd quarter. Martingale Asset Management L P now owns 238,151 shares of the company’s stock worth $10,967,000 after buying an additional 45,172 shares during the period. Institutional investors own 16.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. BMO Capital Markets lifted their target price on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. StockNews.com raised shares of Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Barclays lifted 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 research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $45.50.

Pilgrim’s Pride Price Performance

Shares of NASDAQ:PPC opened at $53.13 on Monday. The firm has a 50 day moving average of $47.80 and a 200-day moving average of $47.25. The stock has a market capitalization of $12.60 billion, a PE ratio of 11.65 and a beta of 0.82. The company has a current ratio of 2.01, a quick ratio of 1.31 and a debt-to-equity ratio of 0.75. Pilgrim’s Pride Co. has a 12 month low of $28.49 and a 12 month high of $57.16.

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.