Principal Financial Group Inc. Sells 924 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Principal Financial Group Inc. trimmed its position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 1.0% in the fourth quarter, Holdings Channel reports. The fund owned 92,754 shares of the company’s stock after selling 924 shares during the quarter. Principal Financial Group Inc.’s holdings in Pilgrim’s Pride were worth $4,210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in PPC. Harbor Capital Advisors Inc. acquired a new stake in shares of Pilgrim’s Pride in the third quarter worth $27,000. Quarry LP grew its position in Pilgrim’s Pride by 295.8% in the 3rd quarter. Quarry LP now owns 946 shares of the company’s stock worth $44,000 after purchasing an additional 707 shares during the last quarter. R Squared Ltd bought a new position in shares of Pilgrim’s Pride during the 4th quarter worth about $59,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Pilgrim’s Pride during the fourth quarter valued at about $118,000. Finally, GAMMA Investing LLC raised its position in shares of Pilgrim’s Pride by 31.9% during the fourth quarter. GAMMA Investing LLC now owns 2,688 shares of the company’s stock valued at $122,000 after buying an additional 650 shares during the last quarter. 16.64% of the stock is owned by institutional investors and hedge funds.

Pilgrim’s Pride Trading Up 0.7 %

Shares of Pilgrim’s Pride stock opened at $54.76 on Tuesday. The company’s fifty day moving average price is $48.51 and its two-hundred day moving average price is $47.66. The firm has a market capitalization of $12.98 billion, a PE ratio of 12.01 and a beta of 0.82. Pilgrim’s Pride Co. has a 52-week low of $31.60 and a 52-week high of $57.16. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.01 and a quick ratio of 1.31.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average 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.