Pilgrim's Pride Corporation (NASDAQ:PPC) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Pilgrim's Pride Corporation has received a consensus rating of "Hold" from five analysts, with an average 1-year price target of $47.50.
• The company posted earnings of $1.70 per share for the last quarter, surpassing analysts' estimates, and reported revenue of $4.76 billion, up 4.3% year-over-year.
• A special dividend of $2.10 was declared and paid on September 3rd, with an ex-dividend date of August 20th.

Pilgrim's Pride Corporation (NASDAQ:PPC - Get Free Report) has been assigned an average recommendation of "Hold" from the five analysts that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $47.50.

Several research analysts have issued reports on the stock. Wall Street Zen cut shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 13th. The Goldman Sachs Group started coverage on shares of Pilgrim's Pride in a research report on Monday, June 23rd. They set a "neutral" rating and a $50.00 price target for the company.

Institutional Investors Weigh In On Pilgrim's Pride

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Corient Private Wealth LLC grew its stake in shares of Pilgrim's Pride by 31.6% during the 2nd quarter. Corient Private Wealth LLC now owns 35,563 shares of the company's stock worth $1,600,000 after purchasing an additional 8,531 shares during the period. Texas Permanent School Fund Corp grew its stake in Pilgrim's Pride by 21.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 68,617 shares of the company's stock valued at $3,086,000 after acquiring an additional 12,211 shares during the period. Osaic Holdings Inc. lifted its holdings in Pilgrim's Pride by 480.1% in the 2nd quarter. Osaic Holdings Inc. now owns 74,431 shares of the company's stock valued at $3,348,000 after purchasing an additional 61,601 shares in the last quarter. Orion Porfolio Solutions LLC lifted its holdings in Pilgrim's Pride by 41.1% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 15,153 shares of the company's stock valued at $682,000 after purchasing an additional 4,414 shares in the last quarter. Finally, Advisory Services Network LLC lifted its holdings in Pilgrim's Pride by 84.1% in the 2nd quarter. Advisory Services Network LLC now owns 33,448 shares of the company's stock valued at $1,585,000 after purchasing an additional 15,284 shares in the last quarter. Institutional investors and hedge funds own 16.64% of the company's stock.

Pilgrim's Pride Price Performance

Pilgrim's Pride stock opened at $40.53 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.63 and a debt-to-equity ratio of 0.83. Pilgrim's Pride has a 52-week low of $40.32 and a 52-week high of $57.16. The company has a market cap of $9.63 billion, a price-to-earnings ratio of 7.81 and a beta of 0.50. The firm's fifty day moving average is $45.60 and its 200 day moving average is $47.73.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.70 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.16. The business had revenue of $4.76 billion for the quarter, compared to analysts' expectations of $4.62 billion. Pilgrim's Pride had a net margin of 6.81% and a return on equity of 37.15%. The business's revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.67 earnings per share. Sell-side analysts forecast that Pilgrim's Pride will post 5.13 EPS for the current fiscal year.

Pilgrim's Pride Dividend Announcement

The firm also recently declared a special dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were issued a $2.10 dividend. The ex-dividend date was Wednesday, August 20th.

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.

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