Pilgrim’s Pride Corporation (NASDAQ:PPC) Stock Has Consensus Price Target of $34.67 According to Brokerages

Shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) have received a consensus rating of “Hold” from the eight research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $34.67.

Several analysts have recently weighed in on the company. Barclays cut their price objective on Pilgrim’s Pride from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Friday, October 30th. UBS Group reissued a “neutral” rating on shares of Pilgrim’s Pride in a research note on Tuesday, September 22nd. BMO Capital Markets reaffirmed a “market perform” rating and issued a $31.00 price target on shares of Pilgrim’s Pride in a report on Friday, October 30th. Finally, Weiss Ratings downgraded Pilgrim’s Pride from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 29th.

Pilgrim’s Pride Trading Down 1.3%

Shares of NASDAQ:PPC opened at $28.62 on Friday. The company has a 50 day moving average of $28.81 and a 200-day moving average of $32.29. The firm has a market cap of $6.81 billion, a P/E ratio of 21.20 and a beta of 0.33. Pilgrim’s Pride has a twelve month low of $25.00 and a twelve month high of $44.84. The company has a current ratio of 1.55, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88.

Pilgrim’s Pride (NASDAQ:PPC) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.07). Pilgrim’s Pride had a net margin of 1.75% and a return on equity of 14.72%. The company had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter last year, the business earned $1.52 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis. As a group, analysts anticipate that Pilgrim’s Pride will post 2.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp raised its stake in shares of Pilgrim’s Pride by 3.7% in the 3rd quarter. Fifth Third Bancorp now owns 11,487 shares of the company’s stock valued at $310,000 after acquiring an additional 411 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Pilgrim’s Pride by 205.4% in the first quarter. Bessemer Group Inc. now owns 1,014 shares of the company’s stock valued at $39,000 after purchasing an additional 682 shares during the period. KBC Group NV lifted its stake in shares of Pilgrim’s Pride by 2.5% in the first quarter. KBC Group NV now owns 36,295 shares of the company’s stock worth $1,370,000 after buying an additional 889 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Pilgrim’s Pride in the second quarter worth $30,000. Finally, Integrated Wealth Concepts LLC bought a new position in Pilgrim’s Pride in the 2nd quarter worth $30,000. 16.64% of the stock is currently owned by institutional investors and hedge funds.

Pilgrim’s Pride Company Profile

Pilgrim’s Pride Corporation is a food company that produces, processes and distributes poultry and prepared foods. Its product portfolio includes fresh, frozen and ready-to-eat chicken products, as well as foodservice, retail and convenience offerings sold under brands such as Pilgrim’s, Just Bare, Gold’n Plump and Del Dia.

Founded in 1946, the company has grown from a regional poultry business into an international food producer. Pilgrim’s Pride serves grocery retailers, restaurants, foodservice distributors and other commercial customers across the United States, Mexico and the United Kingdom and Europe.