Pilgrim’s Pride’s (PPC) “Equal Weight” Rating Reiterated at Barclays

Barclays reaffirmed their equal weight rating on shares of Pilgrim’s Pride (NASDAQ:PPC) in a research note released on Tuesday, MarketBeat reports. Barclays currently has a $38.00 price target on the stock, up from their previous price target of $35.00.

A number of other research analysts also recently issued reports on PPC. The Goldman Sachs Group increased their price objective on Pilgrim’s Pride from $29.00 to $32.00 and gave the stock a neutral rating in a report on Tuesday, February 27th. TheStreet upgraded Pilgrim’s Pride from a c+ rating to a b+ rating in a report on Monday, February 26th. Bank of America raised their price target on Pilgrim’s Pride from $36.00 to $40.00 and gave the company a buy rating in a research note on Monday, April 15th. BMO Capital Markets raised their price target on Pilgrim’s Pride from $32.00 to $35.00 and gave the company an outperform rating in a research note on Tuesday, February 27th. Finally, StockNews.com upgraded Pilgrim’s Pride from a hold rating to a buy rating in a research note on Tuesday, February 27th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Pilgrim’s Pride currently has a consensus rating of Moderate Buy and an average target price of $37.25.

Pilgrim’s Pride Trading Up 0.6 %

NASDAQ PPC opened at $35.77 on Tuesday. The firm has a market cap of $8.48 billion, a P/E ratio of 26.50, a P/E/G ratio of 0.40 and a beta of 0.82. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.68 and a quick ratio of 0.89. The stock’s 50-day moving average is $32.84 and its 200-day moving average is $28.55. Pilgrim’s Pride has a one year low of $19.96 and a one year high of $36.15.

Pilgrim’s Pride (NASDAQ:PPC) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.16. The business had revenue of $4.50 billion during the quarter, compared to the consensus estimate of $4.48 billion. Pilgrim’s Pride had a return on equity of 12.90% and a net margin of 1.85%. Pilgrim’s Pride’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the company earned ($0.49) earnings per share. Sell-side analysts anticipate that Pilgrim’s Pride will post 3.01 earnings per share for the current fiscal year.

Insider Transactions at Pilgrim’s Pride

In other news, CEO Fabio Sandri sold 40,000 shares of Pilgrim’s Pride stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $33.32, for a total transaction of $1,332,800.00. Following the completion of the transaction, the chief executive officer now directly owns 257,065 shares in the company, valued at approximately $8,565,405.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 82.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norden Group LLC acquired a new stake in Pilgrim’s Pride during the 1st quarter worth approximately $2,462,000. Allspring Global Investments Holdings LLC lifted its holdings in Pilgrim’s Pride by 0.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 238,649 shares of the company’s stock worth $8,190,000 after purchasing an additional 1,647 shares during the last quarter. Artemis Investment Management LLP lifted its holdings in Pilgrim’s Pride by 19.3% during the 1st quarter. Artemis Investment Management LLP now owns 221,347 shares of the company’s stock worth $7,593,000 after purchasing an additional 35,859 shares during the last quarter. Atlas Capital Advisors LLC acquired a new stake in Pilgrim’s Pride during the 1st quarter worth approximately $360,000. Finally, Wedmont Private Capital lifted its holdings in Pilgrim’s Pride by 28.8% during the 1st quarter. Wedmont Private Capital now owns 23,268 shares of the company’s stock worth $822,000 after purchasing an additional 5,208 shares during the last quarter. 16.64% of the stock is currently owned by institutional investors.

Pilgrim’s Pride Company Profile

Pilgrim's Pride Corporation produces, processes, markets, and distributes fresh, frozen, and value-added chicken and pork products to retailers, distributors, and foodservice operators. The company offers fresh products, including refrigerated whole or cut-up chicken, selected chicken parts that are either marinated or non-marinated, primary pork cuts, added value pork, and pork ribs; and prepared products, which include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, processed sausages, bacon, smoked meat, gammon joints, pre-packed meats, sandwich and deli counter meats and meat balls.