Pilgrim’s Pride Corporation (PPC) Rating Reiterated by Jefferies Group LLC

Pilgrim’s Pride Corporation (NASDAQ:PPC)‘s stock had its “hold” rating restated by equities research analysts at Jefferies Group LLC in a research report issued to clients and investors on Friday, July 14th. They currently have a $25.00 target price on the stock. Jefferies Group LLC’s target price points to a potential downside of 2.95% from the company’s previous close.

PPC has been the topic of a number of other research reports. Zacks Investment Research lowered Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, March 21st. BidaskClub lowered Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. BMO Capital Markets reaffirmed a “hold” rating and set a $24.00 target price on shares of Pilgrim’s Pride Corporation in a report on Tuesday, May 16th. Vertical Group raised Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a report on Monday, April 24th. Finally, Vertical Research raised Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a report on Friday, April 21st. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $24.50.

Pilgrim’s Pride Corporation (NASDAQ:PPC) opened at 25.76 on Friday. Pilgrim’s Pride Corporation has a 1-year low of $17.15 and a 1-year high of $26.30. The firm’s 50-day moving average is $22.82 and its 200 day moving average is $22.37. The company has a market cap of $6.41 billion, a PE ratio of 13.00 and a beta of 0.19.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.11. Pilgrim’s Pride Corporation had a return on equity of 49.65% and a net margin of 6.05%. The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. Analysts predict that Pilgrim’s Pride Corporation will post $2.44 earnings per share for the current fiscal year.

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Several large investors have recently added to or reduced their stakes in PPC. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Pilgrim’s Pride Corporation by 6.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,668 shares of the company’s stock worth $105,000 after buying an additional 267 shares during the period. TrimTabs Asset Management LLC increased its position in shares of Pilgrim’s Pride Corporation by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 5,016 shares of the company’s stock worth $113,000 after buying an additional 2,360 shares during the last quarter. Regentatlantic Capital LLC bought a new position in shares of Pilgrim’s Pride Corporation during the second quarter worth about $220,000. Fox Run Management L.L.C. bought a new position in shares of Pilgrim’s Pride Corporation during the second quarter worth about $246,000. Finally, MARSHALL WACE ASIA Ltd bought a new position in shares of Pilgrim’s Pride Corporation during the first quarter worth about $249,000. 26.30% of the stock is owned by hedge funds and other institutional investors.

About Pilgrim’s Pride Corporation

Pilgrim’s Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.

Analyst Recommendations for Pilgrim`s Pride Corporation (NASDAQ:PPC)

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