Brokerages Set Pilgrim’s Pride Co. (NASDAQ:PPC) Target Price at $45.80

Pilgrim’s Pride Co. (NASDAQ:PPC) has received an average rating of “Hold” from the five ratings firms that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $45.80.

Several equities research analysts have issued reports on PPC shares. BMO Capital Markets reaffirmed a “market perform” rating and set a $46.00 price target on shares of Pilgrim’s Pride in a report on Monday, August 12th. Argus raised their price target on Pilgrim’s Pride from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Bank of America downgraded Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price target for the company. in a report on Thursday, August 15th. Finally, Barclays raised their price target on Pilgrim’s Pride from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, September 9th.

Insider Transactions at Pilgrim’s Pride

In other news, CEO Fabio Sandri sold 65,000 shares of Pilgrim’s Pride stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $44.50, for a total transaction of $2,892,500.00. Following the completion of the sale, the chief executive officer now owns 279,565 shares of the company’s stock, valued at $12,440,642.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Matthew R. Galvanoni sold 6,500 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $43.31, for a total value of $281,515.00. Following the transaction, the chief financial officer now owns 51,750 shares in the company, valued at $2,241,292.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Fabio Sandri sold 65,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $44.50, for a total value 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 approximately $12,440,642.50. The disclosure for this sale can be found here. Insiders own 82.63% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Amalgamated Bank grew its position in Pilgrim’s Pride by 8.2% in the fourth quarter. Amalgamated Bank now owns 25,244 shares of the company’s stock valued at $698,000 after acquiring an additional 1,921 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Pilgrim’s Pride by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 734,588 shares of the company’s stock valued at $20,319,000 after acquiring an additional 8,173 shares during the last quarter. Jump Financial LLC bought a new position in Pilgrim’s Pride in the fourth quarter valued at about $987,000. Dimensional Fund Advisors LP grew its position in Pilgrim’s Pride by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,691,177 shares of the company’s stock valued at $102,097,000 after acquiring an additional 72,446 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Pilgrim’s Pride in the fourth quarter valued at about $208,000. Institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Trading Up 1.7 %

NASDAQ PPC opened at $41.05 on Friday. The company has a market cap of $9.73 billion, a PE ratio of 19.93, a PEG ratio of 0.21 and a beta of 0.82. The company has a current ratio of 1.82, a quick ratio of 1.09 and a debt-to-equity ratio of 0.85. Pilgrim’s Pride has a 12 month low of $22.33 and a 12 month high of $47.44. The stock has a 50 day moving average of $42.59 and a 200-day moving average of $38.05.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.32 by $0.35. The company had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.62 billion. Pilgrim’s Pride had a return on equity of 25.06% and a net margin of 4.25%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 EPS. On average, equities research analysts anticipate that Pilgrim’s Pride will post 4.79 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.