Brokerages Set Pilgrim's Pride Co. (NASDAQ:PPC) Target Price at $48.40

Pilgrim's Pride Co. (NASDAQ:PPC - Get Free Report) has earned a consensus rating of "Hold" from the six analysts that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $48.40.

A number of research firms have recently weighed in on PPC. StockNews.com cut Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 2nd. BMO Capital Markets lifted their price target on shares of Pilgrim's Pride from $47.00 to $48.00 and gave the company a "market perform" rating in a research report on Monday, March 17th. Finally, Santander assumed coverage on shares of Pilgrim's Pride in a report on Wednesday, March 5th. They issued a "neutral" rating on the stock.

Pilgrim's Pride Trading Down 1.3 %

Pilgrim's Pride stock traded down $0.61 during midday trading on Wednesday, hitting $46.14. 2,748,375 shares of the stock were exchanged, compared to its average volume of 1,155,536. The company has a current ratio of 2.01, a quick ratio of 1.31 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $10.95 billion, a price-to-earnings ratio of 10.12 and a beta of 0.51. The stock's 50-day simple moving average is $52.32 and its 200 day simple moving average is $50.08. Pilgrim's Pride has a fifty-two week low of $33.70 and a fifty-two week high of $57.16.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.26 by $0.05. The firm had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.53 billion. Pilgrim's Pride had a net margin of 6.08% and a return on equity of 32.83%. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.77 EPS. On average, equities analysts anticipate that Pilgrim's Pride will post 5.13 EPS for the current year.

Pilgrim's Pride Increases Dividend

The firm also recently disclosed a special dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 3rd were issued a $6.30 dividend. The ex-dividend date was Thursday, April 3rd. This is a boost from Pilgrim's Pride's previous special dividend of $2.75.

Institutional Investors Weigh In On Pilgrim's Pride

Hedge funds have recently added to or reduced their stakes in the business. Accredited Wealth Management LLC acquired a new stake in shares of Pilgrim's Pride in the fourth quarter valued at $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Pilgrim's Pride in the 4th quarter valued at about $55,000. R Squared Ltd purchased a new position in shares of Pilgrim's Pride in the 4th quarter valued at about $59,000. Harbor Capital Advisors Inc. grew its position in shares of Pilgrim's Pride by 132.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 1,344 shares of the company's stock worth $61,000 after buying an additional 765 shares in the last quarter. Finally, Raleigh Capital Management Inc. purchased a new stake in shares of Pilgrim's Pride during the first quarter worth approximately $74,000. 16.64% of the stock is currently owned by institutional investors and hedge funds.

Pilgrim's Pride Company Profile

Pilgrim's Pride Corp. engages in the production, processing, marketing, and distribution of fresh, frozen and value-added chicken and pork products to retailers, distributors, and foodservice operators. It operates through the following segments: U.S., U.K. and Europe, and Mexico. The company was founded by Lonnie A.