Pilgrim’s Pride Corp. (NASDAQ:PPC) had its target price lowered by Jefferies Group from $23.00 to $21.00 in a research note issued to investors on Wednesday morning. The brokerage currently has a hold rating on the stock.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research cut Pilgrim’s Pride Corp. from a strong-buy rating to a hold rating in a report on Wednesday, June 29th. BMO Capital Markets restated a hold rating and set a $27.00 price objective on shares of Pilgrim’s Pride Corp. in a report on Friday, July 29th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. Pilgrim’s Pride Corp. has an average rating of Hold and an average target price of $26.71.

Pilgrim’s Pride Corp. (NASDAQ:PPC) traded up 0.19% during midday trading on Wednesday, hitting $20.96. The stock had a trading volume of 321,948 shares. Pilgrim’s Pride Corp. has a 52-week low of $17.39 and a 52-week high of $27.79. The stock has a market cap of $5.33 billion, a PE ratio of 11.38 and a beta of 0.29. The company’s 50 day moving average price is $21.68 and its 200-day moving average price is $24.00.

Pilgrim’s Pride Corp. (NASDAQ:PPC) last announced its earnings results on Wednesday, July 27th. The company reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by $0.06. The company earned $2.03 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Pilgrim’s Pride Corp. had a return on equity of 40.35% and a net margin of 5.85%. Pilgrim’s Pride Corp.’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.94 EPS. Analysts forecast that Pilgrim’s Pride Corp. will post $1.98 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC raised its position in Pilgrim’s Pride Corp. by 283.3% in the second quarter. Acrospire Investment Management LLC now owns 4,600 shares of the company’s stock valued at $117,000 after buying an additional 3,400 shares during the last quarter. Huntington National Bank acquired a new position in shares of Pilgrim’s Pride Corp. during the second quarter valued at $121,000. Legal & General Group Plc increased its position in shares of Pilgrim’s Pride Corp. by 3.4% in the first quarter. Legal & General Group Plc now owns 4,950 shares of the company’s stock valued at $126,000 after buying an additional 162 shares during the period. New York State Teachers Retirement System acquired a new position in shares of Pilgrim’s Pride Corp. during the second quarter valued at $143,000. Finally, Pacer Advisors Inc. increased its position in shares of Pilgrim’s Pride Corp. by 505.6% in the second quarter. Pacer Advisors Inc. now owns 7,085 shares of the company’s stock valued at $181,000 after buying an additional 5,915 shares during the period. 27.17% of the stock is owned by hedge funds and other institutional investors.

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.

5 Day Chart for NASDAQ:PPC

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