BidaskClub Downgrades Pilgrim’s Pride (PPC) to Buy
Other equities analysts have also issued reports about the company. ValuEngine raised Pilgrim’s Pride from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. Stephens began coverage on Pilgrim’s Pride in a report on Monday, March 4th. They issued an “overweight” rating and a $19.75 price target for the company. Jefferies Financial Group reaffirmed a “hold” rating and issued a $19.00 price target on shares of Pilgrim’s Pride in a report on Sunday, February 17th. Finally, Zacks Investment Research raised Pilgrim’s Pride from a “strong sell” rating to a “hold” rating in a research note on Monday, January 7th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $22.63.
Pilgrim’s Pride stock opened at $23.23 on Friday. Pilgrim’s Pride has a one year low of $14.83 and a one year high of $24.30. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.72 and a quick ratio of 0.83. The firm has a market capitalization of $5.68 billion, a PE ratio of 18.15 and a beta of 0.81.
In related news, CEO William W. Lovette sold 86,425 shares of Pilgrim’s Pride stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $20.30, for a total transaction of $1,754,427.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 78.81% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio lifted its stake in Pilgrim’s Pride by 4.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 15,407 shares of the company’s stock worth $239,000 after purchasing an additional 693 shares during the last quarter. Rhumbline Advisers lifted its stake in Pilgrim’s Pride by 2.4% during the fourth quarter. Rhumbline Advisers now owns 47,815 shares of the company’s stock worth $742,000 after purchasing an additional 1,108 shares during the last quarter. Legal & General Group Plc lifted its stake in Pilgrim’s Pride by 7.2% during the fourth quarter. Legal & General Group Plc now owns 30,356 shares of the company’s stock worth $471,000 after purchasing an additional 2,047 shares during the last quarter. Van ECK Associates Corp lifted its stake in Pilgrim’s Pride by 1.8% during the fourth quarter. Van ECK Associates Corp now owns 163,128 shares of the company’s stock worth $2,530,000 after purchasing an additional 2,926 shares during the last quarter. Finally, Pearl River Capital LLC bought a new stake in Pilgrim’s Pride during the fourth quarter worth about $48,000. 19.12% of the stock is owned by hedge funds and other institutional investors.
About Pilgrim’s Pride
Pilgrim's Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products in the United States, the United Kingdom, Europe, and Mexico. The company offers fresh chicken products, including pre-marinated or non-marinated refrigerated (nonfrozen) whole or cut-up chicken; and prepackaged case-ready chicken, such as whole chickens and chicken parts.
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