Jupiter Asset Management Ltd. Sells 168,814 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Jupiter Asset Management Ltd. lessened its holdings in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 32.7% during the 4th quarter, Holdings Channel reports. The firm owned 347,497 shares of the company’s stock after selling 168,814 shares during the period. Jupiter Asset Management Ltd.’s holdings in Pilgrim’s Pride were worth $15,773,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PPC. Pacer Advisors Inc. raised its stake in 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 purchasing an additional 4,849,147 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in 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 valued at $67,026,000 after buying an additional 1,310,530 shares in the last quarter. Ruffer LLP purchased a new position in Pilgrim’s Pride during the 4th quarter valued at approximately $8,381,000. Advisors Preferred LLC purchased a new position in Pilgrim’s Pride during the 4th quarter valued at approximately $8,601,000. Finally, Zacks Investment Management purchased a new position in Pilgrim’s Pride during the 3rd quarter valued at approximately $4,989,000. Institutional investors own 16.64% of the company’s stock.

Analyst Ratings Changes

PPC has been the subject of several research analyst reports. StockNews.com cut Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 2nd. Santander initiated coverage on Pilgrim’s Pride in a report on Wednesday, March 5th. They set a “neutral” rating for the company. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $45.50.

Pilgrim’s Pride Price Performance

Shares of Pilgrim’s Pride stock opened at $51.11 on Thursday. The stock has a market cap of $12.12 billion, a price-to-earnings ratio of 11.21 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 stock has a 50 day moving average price of $49.60 and a 200-day moving average price of $48.11. Pilgrim’s Pride Co. has a one year low of $32.65 and a one year high of $57.16.

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.