Analysts Set Pilgrim’s Pride Co. (NASDAQ:PPC) PT at $45.33

Pilgrim’s Pride Co. (NASDAQ:PPC) has been given an average rating of “Hold” by the six analysts that are presently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $45.33.

PPC has been the subject of a number of recent analyst reports. Argus upped their price objective on Pilgrim’s Pride from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Stephens started coverage on Pilgrim’s Pride in a report on Thursday, October 3rd. They set an “equal weight” rating and a $43.00 price objective on the stock. BMO Capital Markets restated a “market perform” rating and issued a $46.00 target price on shares of Pilgrim’s Pride in a research note on Monday, August 12th. Bank of America lowered Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 target price on the stock. in a research note on Thursday, August 15th. Finally, Barclays increased their price objective on Pilgrim’s Pride from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, September 9th.

Pilgrim’s Pride Trading Down 0.4 %

PPC opened at $44.58 on Wednesday. The firm has a market cap of $10.56 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 0.23 and a beta of 0.82. Pilgrim’s Pride has a twelve month low of $23.15 and a twelve month high of $49.07. The firm’s fifty day moving average is $44.27 and its two-hundred day moving average is $39.53. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.09 and a current ratio of 1.82.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.35. The business had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.62 billion. Pilgrim’s Pride had a net margin of 4.25% and a return on equity of 25.06%. The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.44 EPS. Equities research analysts anticipate that Pilgrim’s Pride will post 4.79 EPS for the current year.

Insider Activity

In other news, CEO Fabio Sandri sold 65,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $44.50, for a total value of $2,892,500.00. Following the completion of the transaction, the chief executive officer now owns 279,565 shares in the company, valued at $12,440,642.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Pilgrim’s Pride news, CEO Fabio Sandri sold 65,000 shares of Pilgrim’s Pride stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $44.50, for a total transaction of $2,892,500.00. Following the completion of the transaction, the chief executive officer now owns 279,565 shares in the company, valued at approximately $12,440,642.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matthew R. Galvanoni sold 6,500 shares of Pilgrim’s Pride stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $43.31, for a total value of $281,515.00. Following the completion of the sale, the chief financial officer now directly owns 51,750 shares of the company’s stock, valued at $2,241,292.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 82.63% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pilgrim’s Pride

Large investors have recently added to or reduced their stakes in the stock. ORG Wealth Partners LLC bought a new stake in Pilgrim’s Pride during the third quarter worth approximately $29,000. ORG Partners LLC bought a new position in shares of Pilgrim’s Pride during the second quarter valued at approximately $32,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Pilgrim’s Pride during the second quarter valued at approximately $32,000. Headlands Technologies LLC bought a new position in shares of Pilgrim’s Pride during the first quarter valued at approximately $38,000. Finally, GAMMA Investing LLC grew its stake in shares of Pilgrim’s Pride by 102.9% during the second quarter. GAMMA Investing LLC now owns 1,410 shares of the company’s stock valued at $54,000 after buying an additional 715 shares during the last quarter. 16.64% of the stock is 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.