BidaskClub cut shares of Pilgrim's Pride (NASDAQ:PPC) from a sell rating to a strong sell rating in a research note released on Tuesday.
Several other research firms have also recently commented on PPC. Zacks Investment Research cut Pilgrim's Pride from a strong-buy rating to a hold rating in a research report on Thursday, January 4th. ValuEngine cut Pilgrim's Pride from a strong-buy rating to a buy rating in a research report on Friday, December 15th. Morgan Stanley started coverage on Pilgrim's Pride in a research report on Friday, November 3rd. They set an equal weight rating and a $30.00 target price for the company. BMO Capital Markets upped their price objective on Pilgrim's Pride from $24.00 to $38.00 and gave the stock a market perform rating in a report on Thursday, November 9th. Finally, Jefferies Group set a $32.00 price objective on Pilgrim's Pride and gave the stock a hold rating in a report on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Pilgrim's Pride currently has an average rating of Hold and an average target price of $32.50.
Shares of Pilgrim's Pride (PPC) traded up $0.06 during midday trading on Tuesday, hitting $29.75. The stock had a trading volume of 1,348,000 shares, compared to its average volume of 1,540,700. The stock has a market capitalization of $7,400.00, a PE ratio of 11.76 and a beta of 0.29. Pilgrim's Pride has a one year low of $18.10 and a one year high of $38.39. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.81 and a current ratio of 1.65.
Pilgrim's Pride (NASDAQ:PPC) last posted its earnings results on Tuesday, November 7th. The company reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.21. Pilgrim's Pride had a return on equity of 53.62% and a net margin of 7.03%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the previous year, the business earned $0.40 earnings per share. The firm’s revenue was up 12.0% on a year-over-year basis. analysts predict that Pilgrim's Pride will post 2.85 EPS for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in shares of Pilgrim's Pride by 14.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,152,325 shares of the company’s stock worth $117,970,000 after acquiring an additional 528,588 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Pilgrim's Pride by 4.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 934,475 shares of the company’s stock worth $26,548,000 after acquiring an additional 38,754 shares during the period. State Street Corp grew its holdings in shares of Pilgrim's Pride by 9.7% during the 2nd quarter. State Street Corp now owns 793,321 shares of the company’s stock worth $17,385,000 after acquiring an additional 70,198 shares during the period. Balyasny Asset Management LLC grew its holdings in shares of Pilgrim's Pride by 595.5% during the 2nd quarter. Balyasny Asset Management LLC now owns 789,357 shares of the company’s stock worth $17,303,000 after acquiring an additional 675,862 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in shares of Pilgrim's Pride by 58.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 789,349 shares of the company’s stock worth $22,427,000 after acquiring an additional 292,700 shares during the period. 24.60% of the stock is owned by institutional investors and hedge funds.
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About Pilgrim's Pride
Pilgrim’s Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.
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