GREELEY, Colo. (AP) — Chicken producer Pilgrim's Pride is transferring its listing from the New York Stock Exchange to the Nasdaq Global Select Market.
"As part of our effort to reduce costs and optimize value for our stockholders, we determined that the move to NASDAQ will provide our stockholders the most cost-effective services available in the market today," President and CEO William Lovette said in a statement.
The Greeley, Colo., company said Monday that it anticipates its stock will start trading on the Nasdaq on Dec. 28 and will keep its "PPC" ticker symbol.
Pilgrim's Pride Corp. runs chicken processing plants and prepared-foods facilities in 12 states, Puerto Rico and Mexico. Its stock added 24 cents, or 3.4 percent, to $7.40 in afternoon trading. The shares have traded in a 52-week range of $4.20 to $8.68.