Pilgrim's Pride Corporation (NASDAQ:PPC) Stock Rated "Hold" by Sell-Side Analysts

Key Points

• Analysts rate Pilgrim’s Pride “Hold” on average: Five of eight covering brokers are neutral, while two rate it a buy and one a sell. The average 12-month price target is $36.50, above the reported share price of $27.89.
• Recent financial results fell short of expectations: Pilgrim’s Pride reported quarterly EPS of $0.64 versus the $0.70 consensus estimate and revenue of $4.63 billion, down 2.8% year over year.
• Institutional interest increased: Several major investors initiated or expanded positions, and institutional investors collectively own 16.64% of the company’s stock.

Shares of Pilgrim's Pride Corporation (NASDAQ:PPC - Get Free Report) have earned an average recommendation of "Hold" from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $36.50.

A number of equities research analysts recently weighed in on PPC shares. UBS Group restated a "neutral" rating on shares of Pilgrim's Pride in a report on Tuesday, September 22nd. Bank of America lowered their price target on shares of Pilgrim's Pride from $37.00 to $30.00 and set a "neutral" rating on the stock in a report on Thursday, July 2nd. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Pilgrim's Pride in a report on Tuesday, September 22nd.

Pilgrim's Pride Stock Down 0.4%

Pilgrim's Pride stock opened at $27.89 on Wednesday. The firm's fifty day moving average is $29.12 and its 200 day moving average is $30.20. Pilgrim's Pride has a 12-month low of $25.00 and a 12-month high of $44.84. The company has a market capitalization of $6.64 billion, a PE ratio of 12.13 and a beta of 0.31. The company has a quick ratio of 0.62, a current ratio of 1.36 and a debt-to-equity ratio of 0.76.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.06). Pilgrim's Pride had a net margin of 2.96% and a return on equity of 21.70%. The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the prior year, the business earned $1.70 earnings per share. The business's quarterly revenue was down 2.8% on a year-over-year basis. As a group, sell-side analysts predict that Pilgrim's Pride will post 2.23 EPS for the current fiscal year.

Institutional Trading of Pilgrim's Pride

A number of institutional investors have recently added to or reduced their stakes in PPC. BlackRock Inc. bought a new stake in Pilgrim's Pride during the second quarter valued at $138,936,000. Carrhae Capital LLP purchased a new position in Pilgrim's Pride during the second quarter worth about $52,185,000. Van ECK Associates Corp boosted its position in shares of Pilgrim's Pride by 724.7% during the 2nd quarter. Van ECK Associates Corp now owns 1,365,157 shares of the company's stock valued at $38,375,000 after acquiring an additional 1,199,625 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Pilgrim's Pride by 12.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,830,054 shares of the company's stock valued at $144,617,000 after acquiring an additional 411,656 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Pilgrim's Pride by 262.5% during the second quarter. Wellington Management Group LLP now owns 547,122 shares of the company's stock worth $15,380,000 after purchasing an additional 396,181 shares in the last quarter. Hedge funds and other institutional investors own 16.64% of the company's stock.

Pilgrim's Pride Company Profile

Pilgrim's Pride Corporation NASDAQ: PPC is a food company that produces, processes, markets and distributes a broad range of poultry and prepared food products. Its offerings include fresh and frozen chicken, ready-to-cook and ready-to-eat products, deli items, snacks, and other value-added foods sold to retailers, foodservice operators and industrial customers.

The company markets products under brands that include Pilgrim's, Just Bare, Gold'n Plump, Moy Park and Pilgrim's Food Masters, along with private-label products.

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