An issue of Pilgrim’s Pride Corporation (NASDAQ:PPC) debt fell 0.5% as a percentage of its face value during trading on Thursday. The high-yield issue of debt has a 5.75% coupon and will mature on March 15, 2025. The debt is now trading at $104.50 and was trading at $106.00 one week ago. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its share price.

A number of research analysts have recently issued reports on PPC shares. BidaskClub downgraded shares of Pilgrim’s Pride Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. ValuEngine upgraded shares of Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Morgan Stanley started coverage on shares of Pilgrim’s Pride Corporation in a research report on Friday, November 3rd. They issued an “equal weight” rating and a $30.00 price target on the stock. Zacks Investment Research upgraded shares of Pilgrim’s Pride Corporation from a “hold” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a research report on Wednesday, August 2nd. Finally, Vertical Group downgraded shares of Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, September 5th. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a hold rating and three have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $29.20.

Pilgrim’s Pride Corporation (PPC) traded up $0.84 during trading on Thursday, hitting $34.98. 988,460 shares of the company were exchanged, compared to its average volume of 1,286,332. The company has a quick ratio of 0.81, a current ratio of 1.65 and a debt-to-equity ratio of 1.49. Pilgrim’s Pride Corporation has a 52 week low of $17.15 and a 52 week high of $35.04. The firm has a market cap of $8,517.29, a P/E ratio of 13.27 and a beta of 0.21.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last released its earnings results on Tuesday, November 7th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.21. Pilgrim’s Pride Corporation had a net margin of 7.03% and a return on equity of 53.62%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the previous year, the company earned $0.40 EPS. Pilgrim’s Pride Corporation’s quarterly revenue was up 12.0% compared to the same quarter last year. analysts anticipate that Pilgrim’s Pride Corporation will post 2.77 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Seven Eight Capital LP acquired a new position in shares of Pilgrim’s Pride Corporation during the 2nd quarter valued at $134,000. New York State Teachers Retirement System bought a new stake in Pilgrim’s Pride Corporation during the 3rd quarter valued at $134,000. Ladenburg Thalmann Financial Services Inc. increased its stake in Pilgrim’s Pride Corporation by 57.1% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,882 shares of the company’s stock valued at $167,000 after purchasing an additional 2,139 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Pilgrim’s Pride Corporation by 9.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,203 shares of the company’s stock valued at $201,000 after purchasing an additional 798 shares in the last quarter. Finally, Amalgamated Bank bought a new stake in Pilgrim’s Pride Corporation during the 2nd quarter valued at $219,000. Institutional investors own 24.50% of the company’s stock.

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Pilgrim’s Pride Corporation Company Profile

Pilgrim’s Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It 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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