Pilgrim’s Pride Co. (NASDAQ:PPC)’s share price hit a new 52-week low on Wednesday . The company traded as low as $14.79 and last traded at $14.80, with a volume of 12793 shares. The stock had previously closed at $15.08.
A number of analysts have recently commented on the company. Barclays downgraded Pilgrim’s Pride from an “overweight” rating to an “equal weight” rating and set a $20.00 price objective for the company. in a report on Monday, June 29th. Stephens cut shares of Pilgrim’s Pride from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, June 3rd. BMO Capital Markets cut shares of Pilgrim’s Pride from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $36.00 to $21.00 in a research report on Monday, June 29th. Goldman Sachs Group decreased their price objective on shares of Pilgrim’s Pride from $23.00 to $19.00 in a research report on Thursday, June 4th. Finally, ValuEngine cut shares of Pilgrim’s Pride from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $24.14.
The firm’s 50 day simple moving average is $16.12 and its 200 day simple moving average is $17.99. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 3.61 and a beta of 0.93. The company has a quick ratio of 0.98, a current ratio of 1.89 and a debt-to-equity ratio of 1.10.
Several hedge funds and other institutional investors have recently bought and sold shares of PPC. Private Advisor Group LLC bought a new position in Pilgrim’s Pride during the second quarter worth about $26,000. Captrust Financial Advisors acquired a new stake in shares of Pilgrim’s Pride in the 2nd quarter valued at approximately $28,000. CWM Advisors LLC acquired a new stake in shares of Pilgrim’s Pride in the 1st quarter valued at approximately $29,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Pilgrim’s Pride by 27.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,081 shares of the company’s stock worth $92,000 after buying an additional 1,100 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in Pilgrim’s Pride by 32.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 10,914 shares of the company’s stock worth $184,000 after buying an additional 2,697 shares during the period. Institutional investors and hedge funds own 17.32% of the company’s stock.
Pilgrim’s Pride Company Profile (NASDAQ:PPC)
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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