Pilgrim’s Pride (NASDAQ:PPC) Hits New 52-Week Low – What’s Next?

Pilgrim’s Pride Corporation (NASDAQ:PPC)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $26.85 and last traded at $26.5560, with a volume of 58492 shares changing hands. The stock had previously closed at $27.32.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Pilgrim’s Pride in a research report on Friday, June 12th. The Goldman Sachs Group decreased their price objective on shares of Pilgrim’s Pride from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. UBS Group began coverage on shares of Pilgrim’s Pride in a research note on Tuesday, May 19th. They set a “neutral” rating and a $30.00 price objective for the company. BMO Capital Markets dropped their target price on shares of Pilgrim’s Pride from $42.00 to $40.00 and set a “market perform” rating for the company in a report on Wednesday, March 25th. Finally, Stephens set a $40.00 target price on Pilgrim’s Pride in a research note on Wednesday, April 15th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Pilgrim’s Pride currently has an average rating of “Hold” and an average price target of $38.20.

Pilgrim’s Pride Stock Performance

The company has a market capitalization of $6.60 billion, a PE ratio of 7.43 and a beta of 0.28. The company has a 50 day moving average of $30.07 and a two-hundred day moving average of $36.40. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.48 and a quick ratio of 0.73.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.18). Pilgrim’s Pride had a net margin of 4.78% and a return on equity of 28.57%. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same period in the prior year, the business posted $1.31 EPS. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, equities research analysts predict that Pilgrim’s Pride Corporation will post 3.52 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Accredited Wealth Management LLC raised its holdings in Pilgrim’s Pride by 3,257.0% in the 3rd quarter. Accredited Wealth Management LLC now owns 30,213 shares of the company’s stock worth $1,230,000 after acquiring an additional 29,313 shares during the last quarter. Quantbot Technologies LP boosted its stake in Pilgrim’s Pride by 163.4% during the 3rd quarter. Quantbot Technologies LP now owns 117,781 shares of the company’s stock valued at $4,796,000 after purchasing an additional 73,068 shares during the last quarter. Vanguard Group Inc. boosted its stake in Pilgrim’s Pride by 10.0% during the 3rd quarter. Vanguard Group Inc. now owns 5,672,728 shares of the company’s stock valued at $230,993,000 after purchasing an additional 516,598 shares during the last quarter. Bridgefront Capital LLC bought a new stake in shares of Pilgrim’s Pride in the 3rd quarter worth $1,162,000. Finally, Citigroup Inc. increased its holdings in shares of Pilgrim’s Pride by 21.8% in the 3rd quarter. Citigroup Inc. now owns 169,780 shares of the company’s stock worth $6,913,000 after purchasing an additional 30,356 shares in the last quarter. 16.64% of the stock is owned by hedge funds and other institutional investors.

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.