Pilgrim’s Pride Co. (NASDAQ:PPC) Receives Average Recommendation of “Hold” from Analysts

Shares of Pilgrim’s Pride Co. (NASDAQ:PPC) have been assigned an average rating of “Hold” from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $45.50.

Several research analysts have weighed in on the company. BMO Capital Markets upped their target price on Pilgrim’s Pride from $42.00 to $43.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Stephens assumed coverage on Pilgrim’s Pride in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price objective on the stock. Barclays lifted their target price on shares of Pilgrim’s Pride from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Finally, Argus increased their price target on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PPC. Vestcor Inc boosted its stake in Pilgrim’s Pride by 1.1% during the 3rd quarter. Vestcor Inc now owns 19,783 shares of the company’s stock valued at $911,000 after purchasing an additional 212 shares during the period. CIBC Asset Management Inc boosted its position in shares of Pilgrim’s Pride by 3.3% in the third quarter. CIBC Asset Management Inc now owns 6,836 shares of the company’s stock valued at $315,000 after acquiring an additional 216 shares during the period. Arizona State Retirement System grew its stake in shares of Pilgrim’s Pride by 1.9% in the second quarter. Arizona State Retirement System now owns 13,259 shares of the company’s stock worth $510,000 after acquiring an additional 244 shares during the last quarter. Norden Group LLC increased its position in Pilgrim’s Pride by 3.6% during the second quarter. Norden Group LLC now owns 9,290 shares of the company’s stock worth $358,000 after acquiring an additional 322 shares during the period. Finally, CWM LLC raised its stake in Pilgrim’s Pride by 19.1% during the 3rd quarter. CWM LLC now owns 2,086 shares of the company’s stock valued at $96,000 after purchasing an additional 334 shares during the last quarter. 16.64% of the stock is currently owned by institutional investors and hedge funds.

Pilgrim’s Pride Stock Performance

Shares of PPC opened at $46.16 on Monday. Pilgrim’s Pride has a 52 week low of $26.37 and a 52 week high of $55.50. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.27 and a current ratio of 1.95. The company has a market capitalization of $10.95 billion, a PE ratio of 11.15, a PEG ratio of 0.20 and a beta of 0.82. The company’s 50 day moving average price is $49.63 and its 200 day moving average price is $44.26.

Pilgrim’s Pride (NASDAQ:PPC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.27 by $0.36. Pilgrim’s Pride had a net margin of 5.46% and a return on equity of 29.92%. The business had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.69 billion. During the same period in the previous year, the company posted $0.58 EPS. Pilgrim’s Pride’s revenue was up 5.2% on a year-over-year basis. Research analysts expect that Pilgrim’s Pride will post 5.12 EPS for the current fiscal year.

Pilgrim’s Pride Company Profile

Pilgrim's Pride Corporation produces, processes, markets, and distributes fresh, frozen, and value-added chicken and pork products to retailers, distributors, and foodservice operators. The company offers fresh products, including refrigerated whole or cut-up chicken, selected chicken parts that are either marinated or non-marinated, primary pork cuts, added value pork, and pork ribs; and prepared products, which include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, processed sausages, bacon, smoked meat, gammon joints, pre-packed meats, sandwich and deli counter meats and meat balls.