Analysts Set Pilgrim’s Pride Co. (NASDAQ:PPC) Target Price at $37.25

Shares of Pilgrim’s Pride Co. (NASDAQ:PPCGet Free Report) have received an average recommendation of “Moderate Buy” from the four brokerages that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $37.25.

PPC has been the subject of several research analyst reports. Barclays reiterated an “equal weight” rating and issued a $38.00 price objective (up from $35.00) on shares of Pilgrim’s Pride in a research report on Tuesday, April 16th. BMO Capital Markets boosted their price objective on Pilgrim’s Pride from $32.00 to $35.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. The Goldman Sachs Group boosted their price objective on Pilgrim’s Pride from $32.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. StockNews.com upgraded Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 3rd. Finally, TheStreet upgraded Pilgrim’s Pride from a “c+” rating to a “b+” rating in a research note on Monday, February 26th.

View Our Latest Stock Report on Pilgrim’s Pride

Pilgrim’s Pride Price Performance

Pilgrim’s Pride stock opened at $37.36 on Friday. The firm has a market capitalization of $8.85 billion, a P/E ratio of 18.14, a PEG ratio of 0.29 and a beta of 0.77. Pilgrim’s Pride has a 1 year low of $19.96 and a 1 year high of $39.00. The business has a 50-day moving average of $35.39 and a 200-day moving average of $30.35. The company has a current ratio of 1.83, a quick ratio of 1.01 and a debt-to-equity ratio of 0.96.

Pilgrim’s Pride (NASDAQ:PPCGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.17. Pilgrim’s Pride had a return on equity of 17.35% and a net margin of 2.80%. The business had revenue of $4.36 billion during the quarter, compared to analyst estimates of $4.45 billion. During the same period in the previous year, the firm earned $0.08 EPS. Pilgrim’s Pride’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities analysts anticipate that Pilgrim’s Pride will post 3.64 EPS for the current year.

Insider Buying and Selling at Pilgrim’s Pride

In other news, CEO Fabio Sandri sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $33.32, for a total transaction of $1,332,800.00. Following the sale, the chief executive officer now owns 257,065 shares in the company, valued at approximately $8,565,405.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 82.63% of the company’s stock.

Institutional Investors Weigh In On Pilgrim’s Pride

Large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC lifted its holdings in Pilgrim’s Pride by 2,666.0% during the 4th quarter. International Assets Investment Management LLC now owns 44,865 shares of the company’s stock valued at $1,241,000 after purchasing an additional 43,243 shares during the last quarter. Hudson Bay Capital Management LP increased its position in Pilgrim’s Pride by 142.2% during the 3rd quarter. Hudson Bay Capital Management LP now owns 108,982 shares of the company’s stock worth $2,488,000 after buying an additional 63,982 shares during the period. Barings LLC bought a new position in Pilgrim’s Pride during the 4th quarter worth $4,063,000. Artemis Investment Management LLP bought a new position in Pilgrim’s Pride during the 4th quarter worth $5,131,000. Finally, Trexquant Investment LP increased its position in Pilgrim’s Pride by 136.0% during the 3rd quarter. Trexquant Investment LP now owns 128,942 shares of the company’s stock worth $2,944,000 after buying an additional 74,316 shares during the period. Institutional investors and hedge funds own 16.64% of the company’s stock.

About Pilgrim’s Pride

(Get Free Report

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.

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