Pilgrim’s Pride Co. (NASDAQ:PPC) Receives $45.33 Consensus Price Target from Analysts

Shares of Pilgrim’s Pride Co. (NASDAQ:PPC) have been assigned an average rating of “Hold” from the six analysts that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $45.33.

A number of equities analysts have recently commented on the stock. Bank of America lowered shares of Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 target price on the stock. in a research report on Thursday, August 15th. Stephens assumed coverage on shares of Pilgrim’s Pride in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 target price for the company. 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. Barclays raised their target price on shares of Pilgrim’s Pride from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, September 9th. Finally, Argus lifted their price objective on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th.

Pilgrim’s Pride Stock Down 0.4 %

Shares of PPC stock opened at $44.58 on Wednesday. The stock has a market cap of $10.57 billion, a P/E ratio of 14.02, a PEG ratio of 0.23 and a beta of 0.82. Pilgrim’s Pride has a 52 week low of $23.15 and a 52 week high of $49.07. The company has a quick ratio of 1.09, a current ratio of 1.82 and a debt-to-equity ratio of 0.85. The company’s fifty day simple moving average is $44.27 and its two-hundred day simple moving average is $39.46.

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

Insider Activity

In related news, CFO Matthew R. Galvanoni sold 6,500 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $43.31, for a total transaction of $281,515.00. Following the transaction, the chief financial officer now directly owns 51,750 shares in the company, valued at approximately $2,241,292.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Pilgrim’s Pride news, CFO Matthew R. Galvanoni sold 6,500 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $43.31, for a total value of $281,515.00. Following the transaction, the chief financial officer now directly owns 51,750 shares in the company, valued at $2,241,292.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Fabio Sandri sold 65,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were 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 $12,440,642.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 82.63% of the company’s stock.

Institutional Investors Weigh In On Pilgrim’s Pride

Several large investors have recently added to or reduced their stakes in PPC. ORG Wealth Partners LLC purchased a new stake in shares of Pilgrim’s Pride in the 3rd quarter valued at approximately $29,000. Exchange Traded Concepts LLC boosted its stake in Pilgrim’s Pride by 408.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 104,514 shares of the company’s stock worth $4,813,000 after purchasing an additional 83,964 shares during the period. CWM LLC raised its position in Pilgrim’s Pride by 19.1% during the 3rd quarter. CWM LLC now owns 2,086 shares of the company’s stock worth $96,000 after buying an additional 334 shares during the last quarter. FCF Advisors LLC purchased a new position in Pilgrim’s Pride during the 3rd quarter worth $1,314,000. Finally, Axiom Advisory LLC purchased a new position in Pilgrim’s Pride during the 3rd quarter worth $233,000. 16.64% of the stock is owned by hedge funds and other 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.