Pilgrim’s Pride Corporation (NASDAQ:PPC) Receives Consensus Rating of “Hold” from Analysts

Shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) have earned an average rating of “Hold” from the five brokerages that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $47.00.

Several research firms have weighed in on PPC. Wall Street Zen cut Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Zacks Research upgraded shares of Pilgrim’s Pride from a “strong sell” rating to a “hold” rating in a report on Friday, November 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Pilgrim’s Pride in a research note on Thursday. Finally, The Goldman Sachs Group cut their target price on shares of Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating for the company in a research report on Monday, October 13th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PPC. Range Financial Group LLC grew its position in shares of Pilgrim’s Pride by 26.5% in the second quarter. Range Financial Group LLC now owns 29,027 shares of the company’s stock valued at $1,306,000 after purchasing an additional 6,073 shares during the last quarter. Viking Fund Management LLC boosted its stake in Pilgrim’s Pride by 1,370.6% during the 2nd quarter. Viking Fund Management LLC now owns 50,000 shares of the company’s stock valued at $2,249,000 after purchasing an additional 46,600 shares during the period. LPL Financial LLC grew its holdings in Pilgrim’s Pride by 135.2% in the 1st quarter. LPL Financial LLC now owns 98,394 shares of the company’s stock valued at $5,363,000 after buying an additional 56,568 shares during the last quarter. Dark Forest Capital Management LP increased its position in Pilgrim’s Pride by 129.6% in the 1st quarter. Dark Forest Capital Management LP now owns 62,920 shares of the company’s stock worth $3,430,000 after buying an additional 35,512 shares during the period. Finally, Beacon Harbor Wealth Advisors Inc. bought a new position in Pilgrim’s Pride in the 1st quarter worth approximately $6,243,000. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Price Performance

Shares of NASDAQ:PPC opened at $37.52 on Friday. The company’s fifty day moving average is $39.41 and its two-hundred day moving average is $44.27. The company has a market cap of $8.91 billion, a P/E ratio of 7.27 and a beta of 0.48. Pilgrim’s Pride has a 12-month low of $35.73 and a 12-month high of $57.16. The company has a quick ratio of 0.88, a current ratio of 1.63 and a debt-to-equity ratio of 0.83.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. The business had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.65 billion. Pilgrim’s Pride had a return on equity of 37.75% and a net margin of 6.70%.Pilgrim’s Pride’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.63 earnings per share. Equities analysts expect that Pilgrim’s Pride will post 5.13 earnings per share for the current fiscal year.

Pilgrim’s Pride Company Profile

Pilgrim’s Pride Corp. engages in the production, processing, marketing, and distribution of fresh, frozen and value-added chicken and pork products to retailers, distributors, and foodservice operators. It operates through the following segments: U.S., U.K. and Europe, and Mexico. The company was founded by Lonnie A.