Pilgrim’s Pride (NASDAQ:PPC) Price Target Raised to $48.00 at BMO Capital Markets

Pilgrim’s Pride (NASDAQ:PPC) had its target price raised by analysts at BMO Capital Markets from $47.00 to $48.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price target points to a potential downside of 2.84% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. StockNews.com cut shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 2nd. Santander started coverage on shares of Pilgrim’s Pride in a research note on Wednesday, March 5th. They issued a “neutral” rating for the company. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $46.33.

Pilgrim’s Pride Stock Performance

Shares of Pilgrim’s Pride stock traded down $0.22 on Monday, reaching $49.40. The stock had a trading volume of 428,653 shares, compared to its average volume of 1,154,140. The business’s 50-day moving average price is $49.69 and its two-hundred day moving average price is $48.20. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01. Pilgrim’s Pride has a fifty-two week low of $33.25 and a fifty-two week high of $57.16. The stock has a market cap of $11.71 billion, a P/E ratio of 10.87 and a beta of 0.71.

Institutional Investors Weigh In On Pilgrim’s Pride

Several large investors have recently made changes to their positions in the company. Vestcor Inc grew its holdings in shares of Pilgrim’s Pride by 1.1% in the 3rd quarter. Vestcor Inc now owns 19,783 shares of the company’s stock worth $911,000 after purchasing an additional 212 shares during the last quarter. CIBC Asset Management Inc increased its position in Pilgrim’s Pride by 3.3% in the 3rd quarter. CIBC Asset Management Inc now owns 6,836 shares of the company’s stock valued at $315,000 after acquiring an additional 216 shares in the last quarter. Xponance Inc. increased its position in Pilgrim’s Pride by 3.7% in the 4th quarter. Xponance Inc. now owns 6,307 shares of the company’s stock valued at $286,000 after acquiring an additional 225 shares in the last quarter. Loomis Sayles & Co. L P increased its position in Pilgrim’s Pride by 3.2% in the 3rd quarter. Loomis Sayles & Co. L P now owns 13,079 shares of the company’s stock valued at $602,000 after acquiring an additional 401 shares in the last quarter. Finally, Amalgamated Bank increased its position in Pilgrim’s Pride by 3.2% in the 4th quarter. Amalgamated Bank now owns 19,033 shares of the company’s stock valued at $864,000 after acquiring an additional 585 shares in the last quarter. Institutional investors own 16.64% of the company’s stock.

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.