Several other analysts also recently commented on the stock. ValuEngine upgraded shares of Pilgrim’s Pride from a sell rating to a hold rating in a report on Saturday, January 19th. Jefferies Financial Group reiterated a hold rating and issued a $19.00 target price on shares of Pilgrim’s Pride in a report on Sunday, February 17th. Stephens initiated coverage on shares of Pilgrim’s Pride in a report on Monday, March 4th. They set an overweight rating and a $19.75 price objective for the company. Finally, Zacks Investment Research upgraded shares of Pilgrim’s Pride from a strong sell rating to a hold rating in a report on Monday, January 7th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Pilgrim’s Pride currently has a consensus rating of Buy and an average price target of $22.63.
Shares of PPC stock opened at $24.40 on Friday. The stock has a market capitalization of $5.91 billion, a PE ratio of 19.06 and a beta of 0.81. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.72 and a quick ratio of 0.83. Pilgrim’s Pride has a one year low of $14.83 and a one year high of $24.49.
Pilgrim’s Pride (NASDAQ:PPC) last announced its earnings results on Wednesday, February 13th. The company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.09). The firm had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.60 billion. Pilgrim’s Pride had a net margin of 2.27% and a return on equity of 16.52%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 EPS. On average, equities research analysts anticipate that Pilgrim’s Pride will post 1.52 earnings per share for the current fiscal year.
In related news, CEO William W. Lovette sold 86,425 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $20.30, for a total transaction of $1,754,427.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 78.81% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of PPC. Norges Bank purchased a new stake in Pilgrim’s Pride during the fourth quarter worth about $15,841,000. Millennium Management LLC increased its stake in shares of Pilgrim’s Pride by 88.9% in the fourth quarter. Millennium Management LLC now owns 1,710,763 shares of the company’s stock worth $26,534,000 after purchasing an additional 805,336 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Pilgrim’s Pride by 12.6% in the third quarter. JPMorgan Chase & Co. now owns 2,917,939 shares of the company’s stock worth $52,785,000 after purchasing an additional 327,140 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Pilgrim’s Pride by 27.4% in the fourth 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 in the last quarter. Finally, QS Investors LLC increased its stake in shares of Pilgrim’s Pride by 3,404.2% in the fourth quarter. QS Investors LLC now owns 266,318 shares of the company’s stock worth $4,131,000 after purchasing an additional 258,718 shares in the last quarter. Institutional investors and hedge funds own 19.08% of the company’s stock.
About Pilgrim’s Pride
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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