Pilgrim’s Pride Co. (NASDAQ:PPC) Receives $45.50 Consensus Target Price from Analysts

Pilgrim’s Pride Co. (NASDAQ:PPC) has received an average recommendation of “Hold” from the six research firms that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $45.50.

A number of equities analysts have commented on the stock. Barclays lifted their target price on shares of 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. Stephens began coverage on Pilgrim’s Pride in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price objective on the stock. Finally, BMO Capital Markets raised their target price on Pilgrim’s Pride from $42.00 to $43.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st.

Hedge Funds Weigh In On Pilgrim’s Pride

Institutional investors have recently bought and sold shares of the company. Vestcor Inc grew its stake in shares of Pilgrim’s Pride by 1.1% in the third quarter. Vestcor Inc now owns 19,783 shares of the company’s stock worth $911,000 after acquiring an additional 212 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Pilgrim’s Pride by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 6,836 shares of the company’s stock worth $315,000 after purchasing an additional 216 shares during the period. Arizona State Retirement System raised its position in Pilgrim’s Pride by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 13,259 shares of the company’s stock valued at $510,000 after purchasing an additional 244 shares in the last quarter. Norden Group LLC boosted its stake in shares of Pilgrim’s Pride by 3.6% in the 2nd quarter. Norden Group LLC now owns 9,290 shares of the company’s stock valued at $358,000 after buying an additional 322 shares during the period. Finally, CWM LLC grew its position in shares of Pilgrim’s Pride by 19.1% during the third quarter. CWM LLC now owns 2,086 shares of the company’s stock worth $96,000 after buying an additional 334 shares in the last quarter. 16.64% of the stock is owned by institutional investors and hedge funds.

Pilgrim’s Pride Price Performance

NASDAQ:PPC opened at $45.92 on Monday. Pilgrim’s Pride has a one year low of $26.52 and a one year high of $55.50. The stock has a market cap of $10.89 billion, a PE ratio of 11.09, a P/E/G ratio of 0.20 and a beta of 0.82. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.27 and a current ratio of 1.95. The stock has a 50 day moving average price of $49.69 and a 200 day moving average price of $44.66.

Pilgrim’s Pride (NASDAQ:PPC) last issued its earnings results on Wednesday, October 30th. The company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.36. The business had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.69 billion. Pilgrim’s Pride had a return on equity of 29.92% and a net margin of 5.46%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the company earned $0.58 EPS. Equities research analysts expect that Pilgrim’s Pride will post 5.12 EPS for the current fiscal year.

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.