Pilgrim’s Pride Co. (NASDAQ:PPC) Receives Consensus Recommendation of “Hold” from Analysts

Pilgrim’s Pride Co. (NASDAQ:PPC) has been assigned an average rating of “Hold” from the six brokerages that are covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $45.50.

PPC has been the topic of a number of research reports. BMO Capital Markets upped their price target on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. StockNews.com cut Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Finally, Barclays increased their target price on Pilgrim’s Pride from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st.

Pilgrim’s Pride Stock Performance

Shares of NASDAQ PPC opened at $51.84 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.31 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $12.29 billion, a P/E ratio of 11.37 and a beta of 0.82. Pilgrim’s Pride has a 12 month low of $28.49 and a 12 month high of $57.16. The stock has a 50 day moving average of $47.73 and a 200-day moving average of $47.14.

Institutional Trading of Pilgrim’s Pride

Institutional investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. acquired a new position in shares of Pilgrim’s Pride during the 3rd quarter valued at $27,000. Raleigh Capital Management Inc. bought a new position in Pilgrim’s Pride in the 3rd quarter valued at $34,000. Accredited Wealth Management LLC bought a new stake in Pilgrim’s Pride in the fourth quarter worth about $41,000. Quarry LP raised its holdings in shares of Pilgrim’s Pride by 295.8% in the 3rd quarter. Quarry LP now owns 946 shares of the company’s stock worth $44,000 after purchasing an additional 707 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Pilgrim’s Pride during the 4th quarter valued at $55,000. 16.64% of the stock is currently owned by institutional investors.

About Pilgrim’s Pride

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.