BMO Capital Markets Lowers Pilgrim's Pride (PPC) Price Target to $31.00

Pilgrim's Pride (NASDAQ:PPC) had its target price lowered by BMO Capital Markets to $31.00 in a research report released on Friday. The firm currently has a market perform rating on the stock.

Other research analysts also recently issued reports about the stock. ValuEngine downgraded shares of Pilgrim's Pride from a strong-buy rating to a buy rating in a research report on Friday, December 15th. BidaskClub downgraded shares of Pilgrim's Pride from a strong-buy rating to a buy rating in a research report on Tuesday, December 12th. Morgan Stanley raised their price target on shares of Pilgrim's Pride from $30.00 to $32.00 and gave the stock an equal weight rating in a research report on Friday, November 10th. Zacks Investment Research downgraded shares of Pilgrim's Pride from a strong-buy rating to a hold rating in a research report on Thursday, January 4th. Finally, KeyCorp started coverage on shares of Pilgrim's Pride in a research report on Tuesday, October 31st. They issued a hold rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $30.75.

Pilgrim's Pride (NASDAQ:PPC) opened at $27.00 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.65 and a quick ratio of 0.81. Pilgrim's Pride has a 52-week low of $20.20 and a 52-week high of $38.39. The stock has a market cap of $6,716.33, a PE ratio of 9.68 and a beta of 0.03.

Several hedge funds have recently added to or reduced their stakes in PPC. Alliancebernstein L.P. increased its holdings in shares of Pilgrim's Pride by 42.8% in the 2nd quarter. Alliancebernstein L.P. now owns 25,679 shares of the company’s stock worth $563,000 after acquiring an additional 7,700 shares during the period. California Public Employees Retirement System increased its holdings in shares of Pilgrim's Pride by 2.2% in the 2nd quarter. California Public Employees Retirement System now owns 169,900 shares of the company’s stock worth $3,724,000 after acquiring an additional 3,600 shares during the period. Parametric Portfolio Associates LLC increased its holdings in shares of Pilgrim's Pride by 7.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 282,372 shares of the company’s stock worth $6,190,000 after acquiring an additional 19,414 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Pilgrim's Pride by 13.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 895,721 shares of the company’s stock worth $19,634,000 after acquiring an additional 102,981 shares during the period. Finally, Voya Investment Management LLC increased its holdings in shares of Pilgrim's Pride by 4.3% in the 2nd quarter. Voya Investment Management LLC now owns 19,808 shares of the company’s stock worth $434,000 after acquiring an additional 813 shares during the period. 24.70% of the stock is currently 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.

Analyst Recommendations for Pilgrim's Pride (NASDAQ:PPC)

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