Pilgrim’s Pride Corporation (NASDAQ:PPC) Receives $44.33 Average PT from Analysts

by · The Markets Daily

Pilgrim’s Pride Corporation (NASDAQ:PPC – Get Free Report) has been given an average rating of “Hold” by the six brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $44.3333.

PPC has been the topic of several research reports. BMO Capital Markets increased their price target on shares of Pilgrim’s Pride from $40.00 to $42.00 and gave the stock a “market perform” rating in a report on Friday, February 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Pilgrim’s Pride in a research note on Monday, December 29th. Zacks Research downgraded shares of Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 11th. Barclays cut their price target on Pilgrim’s Pride from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 9th. Finally, Santander raised Pilgrim’s Pride from a “neutral” rating to an “outperform” rating in a report on Thursday, December 11th.

Read Our Latest Research Report on Pilgrim’s Pride

Institutional Investors Weigh In On Pilgrim’s Pride

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Pilgrim’s Pride by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 5,804,210 shares of the company’s stock valued at $226,306,000 after purchasing an additional 131,482 shares in the last quarter. AQR Capital Management LLC increased its holdings in Pilgrim’s Pride by 18.7% in the third quarter. AQR Capital Management LLC now owns 4,482,124 shares of the company’s stock valued at $182,512,000 after buying an additional 705,946 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Pilgrim’s Pride by 27.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,418,398 shares of the company’s stock worth $133,296,000 after acquiring an additional 742,204 shares during the period. Bank of America Corp DE raised its position in shares of Pilgrim’s Pride by 22.9% in the second quarter. Bank of America Corp DE now owns 2,171,836 shares of the company’s stock worth $97,689,000 after acquiring an additional 404,915 shares during the period. Finally, State Street Corp boosted its stake in shares of Pilgrim’s Pride by 7.0% during the 4th quarter. State Street Corp now owns 1,661,307 shares of the company’s stock worth $64,774,000 after acquiring an additional 108,949 shares in the last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Price Performance

NASDAQ PPC opened at $41.47 on Tuesday. The company has a market cap of $9.85 billion, a price-to-earnings ratio of 9.13 and a beta of 0.43. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.47 and a quick ratio of 0.76. The stock’s fifty day moving average price is $41.36 and its 200 day moving average price is $40.90. Pilgrim’s Pride has a 1 year low of $35.73 and a 1 year high of $56.88.

Pilgrim’s Pride (NASDAQ:PPC – Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.14). Pilgrim’s Pride had a net margin of 5.85% and a return on equity of 35.15%. The firm had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter in the previous year, the firm posted $1.35 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities research analysts forecast that Pilgrim’s Pride will post 5.13 earnings per share for the current year.

Pilgrim’s Pride Company Profile

(Get Free Report)

Pilgrim’s Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim’s Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.

The company’s vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.

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