Pilgrim’s Pride Corporation (PPC) – What Are Analysts Thinking About This Stock?

Pilgrim’s Pride Corporation (NASDAQ:PPC) has been given a consensus rating of “Hold” by the eight analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $34.67.

Several research analysts recently issued reports on PPC shares. UBS Group reissued a “neutral” rating on shares of Pilgrim’s Pride in a research report on Tuesday, September 22nd. BMO Capital Markets restated a “market perform” rating and set a $31.00 price target on shares of Pilgrim’s Pride in a research note on Friday, October 30th. Weiss Ratings downgraded Pilgrim’s Pride from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 29th. Finally, Barclays lowered their price objective on Pilgrim’s Pride from $42.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, October 30th.

Institutional Trading of Pilgrim’s Pride

Several institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp boosted its stake in Pilgrim’s Pride by 3.7% in the third quarter. Fifth Third Bancorp now owns 11,487 shares of the company’s stock worth $310,000 after purchasing an additional 411 shares in the last quarter. Fulcrum Asset Management LLP grew its holdings in shares of Pilgrim’s Pride by 137.1% during the third quarter. Fulcrum Asset Management LLP now owns 20,895 shares of the company’s stock worth $570,000 after purchasing an additional 12,082 shares during the last quarter. Ethic Inc. acquired a new stake in shares of Pilgrim’s Pride in the third quarter valued at $780,000. Kestra Advisory Services LLC acquired a new stake in shares of Pilgrim’s Pride in the third quarter valued at $541,000. Finally, Covestor Ltd increased its stake in shares of Pilgrim’s Pride by 70.9% in the third quarter. Covestor Ltd now owns 3,165 shares of the company’s stock valued at $86,000 after buying an additional 1,313 shares in the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Trading Down 0.3%

Shares of Pilgrim’s Pride stock opened at $28.53 on Friday. Pilgrim’s Pride has a 52-week low of $25.00 and a 52-week high of $44.84. The firm has a market capitalization of $6.79 billion, a PE ratio of 21.13 and a beta of 0.33. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.55 and a quick ratio of 0.83. The company’s fifty day moving average price is $28.76 and its two-hundred day moving average price is $32.22.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings data on Wednesday, October 28th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). Pilgrim’s Pride had a return on equity of 14.72% and a net margin of 1.75%. The business had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same period in the previous year, the business posted $1.52 earnings per share. Pilgrim’s Pride’s revenue was down 2.2% on a year-over-year basis. On average, analysts expect that Pilgrim’s Pride will post 2.13 EPS for the current year.

Pilgrim’s Pride Company Profile

Pilgrim’s Pride Corporation is a food company that produces, processes and distributes poultry and prepared foods. Its product portfolio includes fresh, frozen and ready-to-eat chicken products, as well as foodservice, retail and convenience offerings sold under brands such as Pilgrim’s, Just Bare, Gold’n Plump and Del Dia.

Founded in 1946, the company has grown from a regional poultry business into an international food producer. Pilgrim’s Pride serves grocery retailers, restaurants, foodservice distributors and other commercial customers across the United States, Mexico and the United Kingdom and Europe.