Pilgrim’s Pride (NASDAQ:PPC) Shares Down 7.9% – Should You Sell?

Pilgrim’s Pride Corporation (NASDAQ:PPC)’s share price traded down 7.9% on Thursday. The company traded as low as $26.25 and last traded at $25.97. Approximately 169,537 shares changed hands during trading, a decline of 87% from the average daily volume of 1,288,220 shares. The stock had previously closed at $28.21.

Analysts Set New Price Targets

Several research firms have recently issued reports on PPC. UBS Group restated a “neutral” rating on shares of Pilgrim’s Pride in a report on Tuesday, September 22nd. BMO Capital Markets reiterated a “market perform” rating and issued a $31.00 target price on shares of Pilgrim’s Pride in a research note on Friday, October 30th. Barclays reduced their target price on Pilgrim’s Pride from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Friday, October 30th. Finally, Weiss Ratings lowered Pilgrim’s Pride from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 29th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $34.67.

Pilgrim’s Pride Trading Down 4.7%

The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 19.84, a P/E/G ratio of 1.33 and a beta of 0.33. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.55. The firm has a fifty day moving average of $28.60 and a 200-day moving average of $32.03.

Pilgrim’s Pride (NASDAQ:PPC) last posted its earnings results on Wednesday, October 28th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). Pilgrim’s Pride had a net margin of 1.75% and a return on equity of 14.72%. The company had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.63 billion. During the same quarter last year, the business posted $1.52 EPS. Pilgrim’s Pride’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, equities analysts predict that Pilgrim’s Pride Corporation will post 2.12 earnings per share for the current fiscal year.

Institutional Trading of Pilgrim’s Pride

Several large investors have recently modified their holdings of the business. AlphaGrep UK Ltd acquired a new stake in Pilgrim’s Pride in the third quarter valued at $214,000. First Trust Advisors LP grew its holdings in Pilgrim’s Pride by 26.8% during the 3rd quarter. First Trust Advisors LP now owns 327,615 shares of the company’s stock worth $8,849,000 after acquiring an additional 69,229 shares in the last quarter. Advisors Asset Management Inc. acquired a new position in Pilgrim’s Pride during the 3rd quarter worth $389,000. South Dakota Investment Council increased its position in shares of Pilgrim’s Pride by 10.4% in the 3rd quarter. South Dakota Investment Council now owns 217,052 shares of the company’s stock worth $5,863,000 after purchasing an additional 20,454 shares during the last quarter. Finally, Royce & Associates LP bought a new stake in shares of Pilgrim’s Pride in the 3rd quarter worth about $2,275,000. 16.64% of the stock is currently owned by institutional investors and hedge funds.

Pilgrim’s Pride Company Profile

Pilgrim’s Pride Corporation is a poultry producer that raises and processes chickens and sells fresh, frozen and prepared chicken products. Its offerings include whole birds, breast and other cuts, as well as value-added and ready-to-eat foods for retail, foodservice and institutional customers. The company serves customers in the United States, Mexico and Europe. Its European operations include Moy Park, a poultry and prepared-foods business based in Northern Ireland. Pilgrim’s Pride traces its origins to a poultry business founded by Aubrey Pilgrim in Pittsburg, Texas, in 1946.