Pilgrim’s Pride Corp. (NASDAQ:PPC) Given Average Recommendation of “Hold” by Brokerages
Pilgrim’s Pride Corp. (NASDAQ:PPC) has earned an average recommendation of “Hold” from the six ratings firms that are presently covering the firm. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $26.85.
PPC has been the topic of several analyst reports. BMO Capital Markets lowered Pilgrim’s Pride Corp. from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $29.00 to $27.00 in a research report on Monday, June 6th. They noted that the move was a valuation call. Zacks Investment Research raised Pilgrim’s Pride Corp. from a “hold” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research report on Tuesday, June 28th.
Several institutional investors have recently added to or reduced their stakes in the stock. LSV Asset Management raised its stake in shares of Pilgrim’s Pride Corp. by 87.6% in the second quarter. LSV Asset Management now owns 4,858,622 shares of the company’s stock worth $123,797,000 after buying an additional 2,268,270 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of Pilgrim’s Pride Corp. during the second quarter worth approximately $36,140,000. Emerald Acquisition Ltd. acquired a new stake in shares of Pilgrim’s Pride Corp. during the second quarter worth approximately $27,950,000. Prudential Financial Inc. raised its stake in shares of Pilgrim’s Pride Corp. by 4,399.6% in the second quarter. Prudential Financial Inc. now owns 1,015,775 shares of the company’s stock worth $25,883,000 after buying an additional 993,200 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Pilgrim’s Pride Corp. during the second quarter worth approximately $17,698,000. Institutional investors and hedge funds own 27.17% of the company’s stock.
Shares of Pilgrim’s Pride Corp. (NASDAQ:PPC) traded up 0.10% during midday trading on Wednesday, hitting $20.92. 647,411 shares of the company’s stock traded hands. The stock has a market cap of $5.32 billion, a P/E ratio of 11.36 and a beta of 0.01. Pilgrim’s Pride Corp. has a 52 week low of $17.39 and a 52 week high of $27.79. The company has a 50 day moving average of $22.36 and a 200 day moving average of $24.27.
Pilgrim’s Pride Corp. (NASDAQ:PPC) last issued its earnings results on Wednesday, July 27th. The company reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.06. Pilgrim’s Pride Corp. had a return on equity of 40.35% and a net margin of 5.85%. The company earned $2.03 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the prior year, the business earned $0.94 earnings per share. Pilgrim’s Pride Corp.’s quarterly revenue was down 1.3% on a year-over-year basis. On average, equities analysts forecast that Pilgrim’s Pride Corp. will post $1.98 EPS for the current fiscal year.
Pilgrim’s Pride Corp. Company Profile
Pilgrim’s Pride Corporation (Pilgrim’s) is a retail food store. The Company is a producer and seller of chicken products with operations in the United States, Mexico and Puerto Rico. The Company is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.
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