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

Shares of Pilgrim’s Pride Co. (NASDAQ:PPCGet Free Report) have received a consensus rating of “Hold” from the seven brokerages that are currently covering the company, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $46.33.

A number of research analysts have issued reports on PPC shares. 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. BMO Capital Markets boosted their target price on shares of Pilgrim’s Pride from $47.00 to $48.00 and gave the company a “market perform” rating in a research note on Monday. Finally, Santander started coverage on shares of Pilgrim’s Pride in a research note on Wednesday, March 5th. They set a “neutral” rating for the company.

Read Our Latest Analysis on Pilgrim’s Pride

Institutional Investors Weigh In On Pilgrim’s Pride

Hedge funds have recently made changes to their positions in the company. Accredited Wealth Management LLC purchased a new stake in Pilgrim’s Pride in the 4th quarter worth approximately $41,000. Quarry LP lifted its position in Pilgrim’s Pride by 295.8% in the 3rd quarter. Quarry LP now owns 946 shares of the company’s stock worth $44,000 after buying an additional 707 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Pilgrim’s Pride in the 4th quarter worth approximately $55,000. R Squared Ltd purchased a new stake in Pilgrim’s Pride in the 4th quarter worth approximately $59,000. Finally, Harbor Capital Advisors Inc. lifted its position in Pilgrim’s Pride by 132.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,344 shares of the company’s stock worth $61,000 after buying an additional 765 shares in the last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Price Performance

Shares of NASDAQ:PPC opened at $49.60 on Tuesday. The company has a quick ratio of 1.31, a current ratio of 2.01 and a debt-to-equity ratio of 0.75. Pilgrim’s Pride has a fifty-two week low of $33.25 and a fifty-two week high of $57.16. The firm has a 50-day simple moving average of $49.76 and a 200 day simple moving average of $48.22. The company has a market cap of $11.76 billion, a PE ratio of 10.88 and a beta of 0.71.

Pilgrim’s Pride Increases Dividend

The firm also recently announced a special dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be issued a dividend of $6.30 per share. This is a boost from Pilgrim’s Pride’s previous special dividend of $2.75.

About Pilgrim’s Pride

(Get Free Report

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.

Further Reading

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

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