Brokerages Set Pilgrim’s Pride Corporation (NASDAQ:PPC) PT at $46.33

Shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) have been given a consensus rating of “Hold” by the six analysts that are currently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $46.3333.

A number of brokerages have recently weighed in on PPC. Barclays reduced their price target on shares of Pilgrim’s Pride from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Pilgrim’s Pride in a report on Monday, December 29th. Wall Street Zen cut Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. Santander raised Pilgrim’s Pride from a “neutral” rating to an “outperform” rating in a research report on Thursday, December 11th. Finally, The Goldman Sachs Group cut their price objective on Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating on the stock in a report on Monday, October 13th.

Institutional Investors Weigh In On Pilgrim’s Pride

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in Pilgrim’s Pride in the 4th quarter worth $1,202,000. Wedmont Private Capital lifted its holdings in shares of Pilgrim’s Pride by 78.3% in the fourth quarter. Wedmont Private Capital now owns 44,011 shares of the company’s stock valued at $1,635,000 after purchasing an additional 19,327 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Pilgrim’s Pride by 90.2% during the fourth quarter. GAMMA Investing LLC now owns 4,868 shares of the company’s stock worth $190,000 after buying an additional 2,309 shares during the period. Tudor Investment Corp ET AL grew its holdings in shares of Pilgrim’s Pride by 2,486.1% during the third quarter. Tudor Investment Corp ET AL now owns 113,788 shares of the company’s stock worth $4,633,000 after buying an additional 109,388 shares in the last quarter. Finally, Allworth Financial LP raised its position in Pilgrim’s Pride by 561.2% in the 3rd quarter. Allworth Financial LP now owns 1,825 shares of the company’s stock valued at $74,000 after buying an additional 1,549 shares during the last quarter. 16.64% of the stock is currently owned by institutional investors and hedge funds.

Pilgrim’s Pride Price Performance

Pilgrim’s Pride stock opened at $38.78 on Monday. The company has a current ratio of 1.51, a quick ratio of 0.78 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $9.21 billion, a P/E ratio of 7.52 and a beta of 0.43. The business has a 50-day moving average of $38.53 and a 200-day moving average of $41.86. Pilgrim’s Pride has a 1 year low of $35.73 and a 1 year high of $57.16.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. The business had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.65 billion. Pilgrim’s Pride had a net margin of 6.70% and a return on equity of 38.17%. Pilgrim’s Pride’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the company posted $1.63 EPS. On average, equities analysts anticipate that Pilgrim’s Pride will post 5.13 EPS for the current year.

Pilgrim’s Pride Company Profile

Pilgrim’s Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim’s Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.

The company’s vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.