An issue of Pilgrim's Pride Co. (NASDAQ:PPC) debt rose 0.9% against its face value during trading on Tuesday. The debt issue has a 5.875% coupon and will mature on September 30, 2027. The debt is now trading at $98.38 and was trading at $99.63 one week ago. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.

PPC has been the topic of a number of research reports. KeyCorp initiated coverage on Pilgrim's Pride in a research note on Tuesday, October 31st. They set a “hold” rating on the stock. BidaskClub upgraded Pilgrim's Pride from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 15th. Morgan Stanley raised their price target on Pilgrim's Pride from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, November 10th. ValuEngine downgraded Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 15th. Finally, BMO Capital Markets raised their price target on Pilgrim's Pride from $24.00 to $38.00 and gave the stock a “market perform” rating in a research note on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $32.50.

Pilgrim's Pride Co. (NASDAQ PPC) traded down $0.16 during trading hours on Tuesday, reaching $25.14. The company had a trading volume of 690,739 shares, compared to its average volume of 1,342,340. The stock has a market cap of $6,273.54, a P/E ratio of 9.94 and a beta of 0.03. 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 Co. has a 12-month low of $20.20 and a 12-month high of $38.39.

A number of institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company lifted its position in Pilgrim's Pride by 9.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,203 shares of the company’s stock worth $201,000 after acquiring an additional 798 shares during the period. Voya Investment Management LLC lifted its position in Pilgrim's Pride by 4.3% during the 2nd quarter. Voya Investment Management LLC now owns 19,808 shares of the company’s stock worth $434,000 after acquiring an additional 813 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Pilgrim's Pride by 0.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 383,553 shares of the company’s stock worth $10,897,000 after acquiring an additional 1,676 shares during the period. Macquarie Group Ltd. lifted its position in Pilgrim's Pride by 3.4% during the 3rd quarter. Macquarie Group Ltd. now owns 61,400 shares of the company’s stock worth $1,745,000 after acquiring an additional 2,000 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. lifted its position in Pilgrim's Pride by 57.1% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,882 shares of the company’s stock worth $167,000 after acquiring an additional 2,139 shares during the period. 24.70% of the stock is owned by institutional investors.

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About Pilgrim's Pride

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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