Brokerages Set Pilgrim’s Pride Co. (NASDAQ:PPC) PT at $45.50

Shares of Pilgrim’s Pride Co. (NASDAQ:PPC) have received a consensus rating of “Hold” from the six brokerages that are covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $45.50.

Several equities research analysts have issued reports on PPC shares. Barclays raised their price objective on shares of Pilgrim’s Pride from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Stephens started coverage on Pilgrim’s Pride in a research note on Thursday, October 3rd. They set an “equal weight” rating and a $43.00 target price on the stock. BMO Capital Markets boosted their price target on Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Finally, Argus increased their price objective on Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. lifted its position in Pilgrim’s Pride by 325.8% during the third quarter. Franklin Resources Inc. now owns 55,071 shares of the company’s stock worth $2,485,000 after purchasing an additional 42,136 shares during the period. Tidal Investments LLC raised its position in shares of Pilgrim’s Pride by 31.5% in the 3rd quarter. Tidal Investments LLC now owns 43,745 shares of the company’s stock valued at $2,014,000 after buying an additional 10,489 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Pilgrim’s Pride during the 3rd quarter worth approximately $141,000. World Investment Advisors LLC acquired a new stake in shares of Pilgrim’s Pride during the 3rd quarter worth approximately $808,000. Finally, Sanctuary Advisors LLC bought a new position in Pilgrim’s Pride in the third quarter valued at approximately $1,860,000. Institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Up 0.9 %

PPC stock opened at $46.30 on Monday. The business’s 50 day simple moving average is $49.68 and its 200 day simple moving average is $44.51. Pilgrim’s Pride has a 1-year low of $26.52 and a 1-year high of $55.50. The firm has a market capitalization of $10.98 billion, a PE ratio of 11.18, a PEG ratio of 0.20 and a beta of 0.82. The company has a current ratio of 1.95, a quick ratio of 1.27 and a debt-to-equity ratio of 0.75.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.36. The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.69 billion. Pilgrim’s Pride had a net margin of 5.46% and a return on equity of 29.92%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.58 earnings per share. As a group, research analysts anticipate that Pilgrim’s Pride will post 5.12 EPS for the current year.

About Pilgrim’s Pride

Pilgrim's Pride Corporation produces, processes, markets, and distributes fresh, frozen, and value-added chicken and pork products to retailers, distributors, and foodservice operators. The company offers fresh products, including refrigerated whole or cut-up chicken, selected chicken parts that are either marinated or non-marinated, primary pork cuts, added value pork, and pork ribs; and prepared products, which include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, processed sausages, bacon, smoked meat, gammon joints, pre-packed meats, sandwich and deli counter meats and meat balls.