Pilgrim’s Pride Co. (NASDAQ:PPC) Receives $25.94 Consensus Price Target from Analysts

Pilgrim’s Pride Co. (NASDAQ:PPC) has earned an average recommendation of “Buy” from the ten brokerages that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $25.94.

Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Pilgrim’s Pride from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Cleveland Research raised Pilgrim’s Pride from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 22nd. ValuEngine raised Pilgrim’s Pride from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Barclays reissued a “buy” rating on shares of Pilgrim’s Pride in a research note on Sunday, May 5th. Finally, TheStreet raised Pilgrim’s Pride from a “c” rating to a “b-” rating in a research note on Tuesday, May 28th.

In other Pilgrim’s Pride news, CFO Fabio Sandri sold 74,710 shares of Pilgrim’s Pride stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $28.27, for a total transaction of $2,112,051.70. Following the transaction, the chief financial officer now owns 326,363 shares of the company’s stock, valued at approximately $9,226,282.01. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jayson Penn sold 51,222 shares of Pilgrim’s Pride stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $28.29, for a total value of $1,449,070.38. Following the transaction, the chief executive officer now directly owns 204,408 shares in the company, valued at approximately $5,782,702.32. The disclosure for this sale can be found here. Insiders own 78.73% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in PPC. Prudential Financial Inc. lifted its holdings in Pilgrim’s Pride by 23.5% in the 2nd quarter. Prudential Financial Inc. now owns 2,225,706 shares of the company’s stock worth $56,511,000 after purchasing an additional 423,761 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Pilgrim’s Pride by 27.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,390,571 shares of the company’s stock worth $21,568,000 after purchasing an additional 298,710 shares during the last quarter. Norges Bank acquired a new stake in Pilgrim’s Pride in the 4th quarter worth approximately $15,841,000. Geode Capital Management LLC lifted its holdings in Pilgrim’s Pride by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 694,858 shares of the company’s stock worth $10,777,000 after purchasing an additional 33,031 shares during the last quarter. Finally, Spark Investment Management LLC lifted its holdings in Pilgrim’s Pride by 426.3% in the 1st quarter. Spark Investment Management LLC now owns 510,800 shares of the company’s stock worth $11,385,000 after purchasing an additional 413,742 shares during the last quarter. 18.83% of the stock is currently owned by institutional investors.

Pilgrim’s Pride stock traded up $0.20 during trading hours on Thursday, reaching $29.51. 941,086 shares of the stock were exchanged, compared to its average volume of 1,047,010. The stock has a market capitalization of $7.21 billion, a PE ratio of 23.05 and a beta of 0.81. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.93 and a current ratio of 1.78. Pilgrim’s Pride has a 52-week low of $14.83 and a 52-week high of $30.35. The company’s 50 day moving average price is $27.03.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.09. Pilgrim’s Pride had a net margin of 2.53% and a return on equity of 15.58%. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. Pilgrim’s Pride’s quarterly revenue was up .2% on a year-over-year basis. Equities research analysts anticipate that Pilgrim’s Pride will post 1.83 earnings per share for the current fiscal year.

Pilgrim’s Pride Company Profile

Pilgrim's Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products in the United States, the United Kingdom, Europe, and Mexico. The company offers fresh chicken products, including pre-marinated or non-marinated refrigerated (nonfrozen) whole or cut-up chicken; and prepackaged case-ready chicken, such as whole chickens and chicken parts.

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

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