Shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) hit a new 52-week high during trading on Wednesday . The company traded as high as $26.36 and last traded at $26.32, with a volume of 893,854 shares traded. The stock had previously closed at $25.76.

PPC has been the topic of a number of analyst reports. BidaskClub cut Pilgrim’s Pride Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, July 1st. Zacks Investment Research cut Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a research report on Friday, May 19th. BMO Capital Markets reissued a “hold” rating and issued a $24.00 price target on shares of Pilgrim’s Pride Corporation in a research report on Tuesday, May 16th. Jefferies Group LLC reissued a “hold” rating and issued a $25.00 price target on shares of Pilgrim’s Pride Corporation in a research report on Friday, July 14th. Finally, ValuEngine raised Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $24.50.

The firm has a market cap of $6.51 billion, a price-to-earnings ratio of 13.21 and a beta of 0.19. The stock’s 50-day moving average is $22.82 and its 200-day moving average is $22.37.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last announced its earnings results on Wednesday, August 2nd. The company reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.11. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.28 billion. Pilgrim’s Pride Corporation had a net margin of 6.05% and a return on equity of 49.65%. Pilgrim’s Pride Corporation’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the firm earned $0.60 earnings per share. Equities analysts anticipate that Pilgrim’s Pride Corporation will post $2.44 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the company. 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 valued at $105,000 after buying an additional 267 shares during the last quarter. TrimTabs Asset Management LLC increased its stake in 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 valued at $113,000 after buying an additional 2,360 shares during the last quarter. Regentatlantic Capital LLC bought a new stake in Pilgrim’s Pride Corporation during the second quarter valued at approximately $220,000. Fox Run Management L.L.C. bought a new stake in Pilgrim’s Pride Corporation during the second quarter valued at approximately $246,000. Finally, MARSHALL WACE ASIA Ltd bought a new stake in Pilgrim’s Pride Corporation during the first quarter valued at approximately $249,000. Institutional investors and hedge funds own 26.30% of the company’s stock.

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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.

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