Pilgrim's Pride Corporation (NASDAQ:PPC) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Analysts give Pilgrim’s Pride an average “Hold” rating: Of eight brokerages, five recommend holding, two recommend buying and one recommends selling. The average 12-month price target is $36.50.
• Recent analyst actions were mixed but generally cautious, including price-target cuts from UBS Group and Bank of America, while Barclays upgraded the stock to “Overweight” but also lowered its target.
• Pilgrim’s Pride reported quarterly EPS of $0.64, below the $0.70 consensus estimate, while revenue of $4.63 billion also missed expectations and declined 2.8% year over year. Institutional investors own 16.64% of the company.

Shares of Pilgrim's Pride Corporation (NASDAQ:PPC - Get Free Report) have been given an average rating of "Hold" by the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $36.50.

PPC has been the topic of several analyst reports. UBS Group dropped their price target on shares of Pilgrim's Pride from $30.00 to $28.00 and set a "neutral" rating on the stock in a research note on Friday, August 7th. Weiss Ratings downgraded Pilgrim's Pride from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, June 26th. Barclays raised shares of Pilgrim's Pride from an "equal weight" rating to an "overweight" rating and reduced their target price for the stock from $45.00 to $42.00 in a report on Friday, May 1st. Finally, 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.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Pilgrim's Pride by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 5,804,210 shares of the company's stock valued at $226,306,000 after acquiring an additional 131,482 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Pilgrim's Pride by 65.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 566,247 shares of the company's stock worth $21,381,000 after purchasing an additional 223,256 shares in the last quarter. Journey Advisory Group LLC grew its position in shares of Pilgrim's Pride by 832.5% during the first quarter. Journey Advisory Group LLC now owns 96,764 shares of the company's stock worth $3,654,000 after purchasing an additional 86,387 shares in the last quarter. Hsbc Holdings PLC raised its stake in Pilgrim's Pride by 29.9% during the 1st quarter. Hsbc Holdings PLC now owns 191,108 shares of the company's stock valued at $7,129,000 after purchasing an additional 44,017 shares during the period. Finally, AE Wealth Management LLC lifted its holdings in Pilgrim's Pride by 164.8% in the 4th quarter. AE Wealth Management LLC now owns 60,718 shares of the company's stock worth $2,367,000 after purchasing an additional 37,784 shares in the last quarter. Institutional investors own 16.64% of the company's stock.

Pilgrim's Pride Stock Up 3.1%

PPC stock opened at $28.77 on Tuesday. Pilgrim's Pride has a fifty-two week low of $25.90 and a fifty-two week high of $48.48. The business's 50-day moving average is $28.27 and its two-hundred day moving average is $33.17. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.62 and a current ratio of 1.36. The company has a market cap of $6.85 billion, a price-to-earnings ratio of 12.51 and a beta of 0.29.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.06). The firm had revenue of $4.63 billion during the quarter, compared to analysts' expectations of $4.70 billion. Pilgrim's Pride had a return on equity of 21.70% and a net margin of 2.96%.The company's revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.70 earnings per share. As a group, analysts forecast that Pilgrim's Pride will post 2.95 earnings per share for the current year.

Pilgrim's Pride Company Profile

Pilgrim's Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim's Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.

The company's vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.

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