Just a few thoughts:
Very first thing, is to make sure that your scope is not bad. Mount a different scope on it and see what happens. If the groups are no better, then consider:
1. Buying a pillar bedded stock is no guarantee of accuracy. Years ago, I had a bolt action rifle with original walnut stock. It consistently shot 1.5 inch groups. I bought a new HS Precision pillar bedded drop-in stock, for a pretty high price, and switched out the stock. It immediately shot no better than 2 inch groups.
2. So, you just have to forget that you have a pillar bedded stock, and treat this as any other rifle that won't shoot well.
3. Are you overtightening the front action screw? Very first thing I would check. Screw it down gently until it stops, and then just give it one-half to three-quarters more of a turn. See how it shoots.
4. Free float the barrel, from one inch in front of the receiver to the very end. Often, this fixes the problem.
5. If not, then take a heavy business card, and shove it under the forestock and barrel near the very front of the forestock, and see if this helps. Shoot a group, then move the card back about an inch, then shoot another group, etc., until you find the sweet spot where you get good groups. Mark the spot on the forestock, and then put a little bit of glass bedding there (in place of the card), and you should be good to go.
Hope this helps.
Mannyrock