Pilgrim’s Pride Co. (NASDAQ:PPC) Receives $45.50 Average PT from Brokerages

Shares of Pilgrim’s Pride Co. (NASDAQ:PPC) have received an average recommendation of “Hold” from the seven analysts that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $45.50.

A number of research firms have recently weighed in on PPC. Santander began coverage on shares of Pilgrim’s Pride in a report on Wednesday, March 5th. They issued a “neutral” rating on the stock. StockNews.com downgraded shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 2nd.

Pilgrim’s Pride Stock Performance

Shares of NASDAQ PPC opened at $50.27 on Tuesday. 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 company has a market cap of $11.92 billion, a P/E ratio of 11.02 and a beta of 0.71. The firm’s fifty day moving average is $49.60 and its two-hundred day moving average is $48.11. Pilgrim’s Pride has a 52-week low of $32.82 and a 52-week high of $57.16.

Hedge Funds Weigh In On Pilgrim’s Pride

Large investors have recently made changes to their positions in the company. Franklin Resources Inc. boosted its stake in shares of Pilgrim’s Pride by 325.8% during the 3rd quarter. Franklin Resources Inc. now owns 55,071 shares of the company’s stock worth $2,485,000 after purchasing an additional 42,136 shares during the period. Ruffer LLP purchased a new stake in Pilgrim’s Pride in the 4th quarter valued at about $8,381,000. Illinois Municipal Retirement Fund boosted its position in Pilgrim’s Pride by 30.0% in the 4th quarter. Illinois Municipal Retirement Fund now owns 58,289 shares of the company’s stock valued at $2,646,000 after buying an additional 13,459 shares during the period. Sigma Planning Corp boosted its position in Pilgrim’s Pride by 73.9% in the 4th quarter. Sigma Planning Corp now owns 28,587 shares of the company’s stock valued at $1,298,000 after buying an additional 12,149 shares during the period. Finally, Norden Group LLC boosted its position in Pilgrim’s Pride by 61.6% in the 4th quarter. Norden Group LLC now owns 15,211 shares of the company’s stock valued at $690,000 after buying an additional 5,798 shares during the period. 16.64% of the stock is owned by hedge funds and other institutional investors.

Pilgrim’s Pride Company Profile

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.