Pilgrim’s Pride (NASDAQ:PPC) Trading Up 4.1% – Still a Buy?

Shares of Pilgrim’s Pride Co. (NASDAQ:PPC) shot up 4.1% on Monday . The company traded as high as $56.67 and last traded at $56.84. 512,453 shares changed hands during trading, a decline of 54% from the average session volume of 1,119,903 shares. The stock had previously closed at $54.62.

Analysts Set New Price Targets

Several research firms recently issued reports on PPC. Santander initiated coverage on 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 research report on Sunday, March 2nd. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Pilgrim’s Pride presently has an average rating of “Hold” and an average target price of $45.50.

Pilgrim’s Pride Stock Down 4.2 %

The company has a debt-to-equity ratio of 0.75, a current ratio of 2.01 and a quick ratio of 1.31. The stock has a market cap of $12.12 billion, a price-to-earnings ratio of 11.21 and a beta of 0.71. The firm has a 50 day simple moving average of $49.48 and a two-hundred day simple moving average of $48.09.

Institutional Trading of Pilgrim’s Pride

Hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. raised its holdings in Pilgrim’s Pride by 1,289.4% in the third quarter. Pacer Advisors Inc. now owns 5,225,216 shares of the company’s stock worth $240,621,000 after purchasing an additional 4,849,147 shares during the period. Jacobs Levy Equity Management Inc. increased its position in shares of Pilgrim’s Pride by 903.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,455,513 shares of the company’s stock valued at $67,026,000 after buying an additional 1,310,530 shares in the last quarter. Point72 Asset Management L.P. raised its stake in Pilgrim’s Pride by 102.0% during the 4th quarter. Point72 Asset Management L.P. now owns 16,381 shares of the company’s stock worth $744,000 after buying an additional 827,381 shares during the period. AQR Capital Management LLC lifted its holdings in Pilgrim’s Pride by 44.1% during the fourth quarter. AQR Capital Management LLC now owns 1,883,708 shares of the company’s stock worth $85,502,000 after acquiring an additional 576,438 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in Pilgrim’s Pride by 156.4% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 333,077 shares of the company’s stock valued at $15,118,000 after acquiring an additional 203,192 shares during the period. 16.64% of the stock is currently owned by institutional investors and hedge funds.

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.