Pilgrim’s Pride Co. (NASDAQ:PPC) Receives $45.50 Consensus Price Target from Analysts

Pilgrim’s Pride Co. (NASDAQ:PPC) has earned an average recommendation of “Hold” from the seven ratings firms that are currently covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $45.50.

A number of research firms recently weighed in on PPC. StockNews.com lowered shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 2nd. Santander assumed coverage on shares of Pilgrim’s Pride in a research note on Wednesday, March 5th. They set a “neutral” rating for the company.

Pilgrim’s Pride Stock Performance

Shares of Pilgrim’s Pride stock opened at $50.27 on Tuesday. The company has a current ratio of 2.01, a quick ratio of 1.31 and a debt-to-equity ratio of 0.75. The business has a 50-day moving average price of $49.60 and a two-hundred day moving average price of $48.11. The company has a market cap of $11.92 billion, a P/E ratio of 11.02 and a beta of 0.71. Pilgrim’s Pride has a 1-year low of $32.82 and a 1-year high of $57.16.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. raised its position 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 valued at $2,485,000 after purchasing an additional 42,136 shares during the period. Ruffer LLP bought a new stake in shares of Pilgrim’s Pride during the 4th quarter valued at $8,381,000. Illinois Municipal Retirement Fund raised its position in shares of Pilgrim’s Pride by 30.0% during the 4th quarter. Illinois Municipal Retirement Fund now owns 58,289 shares of the company’s stock valued at $2,646,000 after purchasing an additional 13,459 shares during the period. Sigma Planning Corp increased its holdings 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 acquiring an additional 12,149 shares during the last quarter. Finally, Norden Group LLC increased its holdings 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 acquiring an additional 5,798 shares during the last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.

About Pilgrim’s Pride

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.