Brokerages Set Pilgrim’s Pride Co. (NASDAQ:PPC) Price Target at $45.50

Shares of Pilgrim’s Pride Co. (NASDAQ:PPC) have been given a consensus rating of “Hold” by the six research firms that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $45.50.

Several research analysts recently issued reports on PPC shares. BMO Capital Markets upped their target price on shares of 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. Barclays upped their price objective 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, StockNews.com downgraded shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research note on Friday.

Hedge Funds Weigh In On Pilgrim’s Pride

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vestcor Inc boosted its stake in shares of Pilgrim’s Pride by 1.1% during the 3rd quarter. Vestcor Inc now owns 19,783 shares of the company’s stock worth $911,000 after purchasing an additional 212 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Pilgrim’s Pride by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 6,836 shares of the company’s stock worth $315,000 after purchasing an additional 216 shares during the period. Xponance Inc. boosted its stake in shares of Pilgrim’s Pride by 3.7% during the 4th quarter. Xponance Inc. now owns 6,307 shares of the company’s stock worth $286,000 after purchasing an additional 225 shares during the period. CWM LLC boosted its stake in shares of Pilgrim’s Pride by 19.1% during the 3rd quarter. CWM LLC now owns 2,086 shares of the company’s stock worth $96,000 after purchasing an additional 334 shares during the period. Finally, Loomis Sayles & Co. L P boosted its stake in shares of Pilgrim’s Pride by 3.2% during the 3rd quarter. Loomis Sayles & Co. L P now owns 13,079 shares of the company’s stock worth $602,000 after purchasing an additional 401 shares during the period. 16.64% of the stock is owned by hedge funds and other institutional investors.

Pilgrim’s Pride Trading Up 3.5 %

Shares of PPC stock opened at $53.88 on Friday. The company’s fifty day simple moving average is $47.45 and its two-hundred day simple moving average is $46.91. The stock has a market capitalization of $12.78 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 0.20 and a beta of 0.82. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.95 and a quick ratio of 1.27. Pilgrim’s Pride has a 1 year low of $27.99 and a 1 year high of $57.16.

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.