Pilgrim’s Pride Corporation (NASDAQ:PPC) Given Consensus Rating of “Hold” by Brokerages

Pilgrim’s Pride Corporation (NASDAQ:PPC) has been given an average recommendation of “Hold” by the eight brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $36.8333.

A number of analysts have recently issued reports on the company. Barclays upgraded Pilgrim’s Pride from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $45.00 to $42.00 in a research report on Friday, May 1st. Bank of America lowered their price target on shares of Pilgrim’s Pride from $37.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday, July 2nd. UBS Group started coverage on shares of Pilgrim’s Pride in a report on Tuesday, May 19th. They set a “neutral” rating and a $30.00 price objective for the company. Stephens set a $40.00 target price on shares of Pilgrim’s Pride in a research note on Wednesday, April 15th. Finally, The Goldman Sachs Group dropped their price target on shares of Pilgrim’s Pride from $44.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, April 9th.

Hedge Funds Weigh In On Pilgrim’s Pride

Hedge funds have recently modified their holdings of the stock. New York State Common Retirement Fund lifted its holdings in shares of Pilgrim’s Pride by 1.3% during the second quarter. New York State Common Retirement Fund now owns 17,817 shares of the company’s stock valued at $801,000 after acquiring an additional 230 shares during the period. Commerce Bank boosted its stake in shares of Pilgrim’s Pride by 4.4% in the 4th quarter. Commerce Bank now owns 5,792 shares of the company’s stock valued at $226,000 after purchasing an additional 246 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Pilgrim’s Pride by 23.5% in the 4th quarter. Signaturefd LLC now owns 1,350 shares of the company’s stock worth $53,000 after purchasing an additional 257 shares during the last quarter. HB Wealth Management LLC grew its holdings in shares of Pilgrim’s Pride by 5.1% in the 4th quarter. HB Wealth Management LLC now owns 5,939 shares of the company’s stock worth $232,000 after purchasing an additional 290 shares during the last quarter. Finally, Quarry LP increased its position in shares of Pilgrim’s Pride by 30.5% during the 4th quarter. Quarry LP now owns 1,248 shares of the company’s stock worth $49,000 after purchasing an additional 292 shares in the last quarter. 16.64% of the stock is owned by institutional investors and hedge funds.

Pilgrim’s Pride Stock Down 1.8%

PPC stock opened at $27.92 on Friday. Pilgrim’s Pride has a twelve month low of $26.50 and a twelve month high of $50.56. The company has a quick ratio of 0.73, a current ratio of 1.48 and a debt-to-equity ratio of 0.83. The company has a market cap of $6.64 billion, a PE ratio of 7.49 and a beta of 0.29. The business’s 50-day simple moving average is $28.47 and its 200 day simple moving average is $34.69.

Pilgrim’s Pride (NASDAQ:PPC) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.18). Pilgrim’s Pride had a net margin of 4.78% and a return on equity of 28.57%. The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same period last year, the company earned $1.31 EPS. The company’s revenue was up 1.6% on a year-over-year basis. On average, research analysts anticipate that Pilgrim’s Pride will post 3.01 earnings per share for the current year.

About Pilgrim’s Pride

Pilgrim’s Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim’s Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.

The company’s vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.