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

Shares of Pilgrim’s Pride Co. (NASDAQ:PPCGet Free Report) have been given an average rating of “Hold” by the six analysts that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $45.50.

PPC has been the subject of several recent analyst reports. Stephens initiated coverage on shares of Pilgrim’s Pride in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 target price for the company. Barclays upped their price objective on Pilgrim’s Pride from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Argus lifted their target price on Pilgrim’s Pride from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. BMO Capital Markets upped their price target on Pilgrim’s Pride from $42.00 to $43.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st. Finally, Bank of America lowered shares of Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price objective for the company. in a report on Thursday, August 15th.

Check Out Our Latest Analysis on Pilgrim’s Pride

Pilgrim’s Pride Price Performance

PPC opened at $50.48 on Thursday. The company’s 50-day simple moving average is $47.65 and its two-hundred day simple moving average is $42.64. 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 stock has a market capitalization of $11.97 billion, a P/E ratio of 12.19, a P/E/G ratio of 0.21 and a beta of 0.81. Pilgrim’s Pride has a 52-week low of $25.23 and a 52-week high of $55.50.

Pilgrim’s Pride (NASDAQ:PPCGet Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.36. The company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.69 billion. Pilgrim’s Pride had a net margin of 5.46% and a return on equity of 29.92%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.58 earnings per share. As a group, analysts predict that Pilgrim’s Pride will post 4.91 EPS for the current year.

Hedge Funds Weigh In On Pilgrim’s Pride

Institutional investors and hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. raised its holdings in shares of Pilgrim’s Pride by 325.8% in the third quarter. Franklin Resources Inc. now owns 55,071 shares of the company’s stock worth $2,485,000 after buying an additional 42,136 shares during the last quarter. Tidal Investments LLC increased its position in shares of Pilgrim’s Pride by 31.5% in the 3rd quarter. Tidal Investments LLC now owns 43,745 shares of the company’s stock valued at $2,014,000 after acquiring an additional 10,489 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Pilgrim’s Pride in the 3rd quarter valued at $141,000. World Investment Advisors LLC purchased a new position in Pilgrim’s Pride in the 3rd quarter worth $808,000. Finally, Sanctuary Advisors LLC acquired a new stake in Pilgrim’s Pride during the 3rd quarter worth about $1,860,000. 16.64% of the stock is owned by hedge funds and other institutional investors.

Pilgrim’s Pride Company Profile

(Get Free Report

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.

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Analyst Recommendations for Pilgrim's Pride (NASDAQ:PPC)

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