Pilgrim’s Pride Corporation (NASDAQ:PPC) Stock Has Consensus Target Price of $36.50

Pilgrim’s Pride Corporation (NASDAQ:PPC – Get Free Report) has been assigned an average rating of “Hold” from the eight analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $36.50.

PPC has been the topic of several recent research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Pilgrim’s Pride in a research report on Tuesday, September 22nd. UBS Group reissued a “neutral” rating on shares of Pilgrim’s Pride in a report on Tuesday, September 22nd. Finally, Bank of America decreased their price objective on Pilgrim’s Pride from $37.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, July 2nd.

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Hedge Funds Weigh In On Pilgrim’s Pride

Hedge funds have recently made changes to their positions in the business. Bessemer Group Inc. grew its stake in Pilgrim’s Pride by 205.4% in the first quarter. Bessemer Group Inc. now owns 1,014 shares of the company’s stock valued at $39,000 after purchasing an additional 682 shares in the last quarter. KBC Group NV increased its holdings in shares of Pilgrim’s Pride by 2.5% in the first quarter. KBC Group NV now owns 36,295 shares of the company’s stock valued at $1,370,000 after purchasing an additional 889 shares during the last quarter. MCF Advisors LLC acquired a new position in Pilgrim’s Pride in the 4th quarter valued at about $35,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Pilgrim’s Pride during the second quarter worth approximately $30,000. Finally, Integrated Wealth Concepts LLC bought a new position in Pilgrim’s Pride during the 2nd quarter worth $30,000. 16.64% of the stock is owned by institutional investors.

Pilgrim’s Pride Stock Up 0.5%

NASDAQ:PPC opened at $28.65 on Wednesday. The stock’s fifty day moving average price is $29.09 and its two-hundred day moving average price is $30.09. The company has a market cap of $6.82 billion, a price-to-earnings ratio of 12.46 and a beta of 0.31. Pilgrim’s Pride has a 52-week low of $25.00 and a 52-week high of $44.84. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.62 and a current ratio of 1.36.

Pilgrim’s Pride (NASDAQ:PPC – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.06). The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.70 billion. Pilgrim’s Pride had a return on equity of 21.70% and a net margin of 2.96%. Pilgrim’s Pride’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.70 earnings per share. On average, analysts anticipate that Pilgrim’s Pride will post 2.23 EPS for the current year.

About Pilgrim’s Pride

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Pilgrim’s Pride Corporation (NASDAQ:PPC) is a food company that produces, processes, markets and distributes a broad range of poultry and prepared food products. Its offerings include fresh and frozen chicken, ready-to-cook and ready-to-eat products, deli items, snacks, and other value-added foods sold to retailers, foodservice operators and industrial customers.

The company markets products under brands that include Pilgrim’s, Just Bare, Gold’n Plump, Moy Park and Pilgrim’s Food Masters, along with private-label products.

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