Pilgrim's Pride (NASDAQ:PPC) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of Pilgrim's Pride (NASDAQ:PPC - Free Report) in a report published on Monday, Marketbeat.com reports. The brokerage issued a neutral rating and a $50.00 price target on the stock.

Several other equities analysts have also recently issued reports on the company. BMO Capital Markets boosted their price target on 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. Santander began coverage on Pilgrim's Pride in a research note on Wednesday, March 5th. They issued a "neutral" rating on the stock. Finally, Wall Street Zen upgraded Pilgrim's Pride from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st. Six analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Pilgrim's Pride has a consensus rating of "Hold" and an average price target of $48.67.

Pilgrim's Pride Stock Performance

Shares of PPC traded down $0.36 during mid-day trading on Monday, reaching $44.55. 1,174,284 shares of the company's stock were exchanged, compared to its average volume of 1,231,630. The business's fifty day simple moving average is $48.46 and its 200-day simple moving average is $49.35. The stock has a market capitalization of $10.56 billion, a PE ratio of 8.79 and a beta of 0.48. Pilgrim's Pride has a 52-week low of $36.52 and a 52-week high of $57.16. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.35 and a quick ratio of 0.88.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.05. The firm had revenue of $4.46 billion during the quarter, compared to analysts' expectations of $4.53 billion. Pilgrim's Pride had a net margin of 6.72% and a return on equity of 36.95%. Pilgrim's Pride's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 EPS. On average, equities research analysts expect that Pilgrim's Pride will post 5.13 earnings per share for the current year.

Hedge Funds Weigh In On Pilgrim's Pride

Hedge funds have recently added to or reduced their stakes in the business. Invst LLC boosted its position in Pilgrim's Pride by 82.5% during the 1st quarter. Invst LLC now owns 20,409 shares of the company's stock worth $1,112,000 after purchasing an additional 9,225 shares during the period. Strs Ohio purchased a new position in shares of Pilgrim's Pride during the 1st quarter valued at approximately $2,648,000. Plato Investment Management Ltd bought a new stake in shares of Pilgrim's Pride in the first quarter worth $579,000. Bayforest Capital Ltd raised its holdings in Pilgrim's Pride by 53.5% in the first quarter. Bayforest Capital Ltd now owns 10,134 shares of the company's stock valued at $552,000 after acquiring an additional 3,531 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in Pilgrim's Pride by 3.5% during the 1st quarter. Empowered Funds LLC now owns 75,632 shares of the company's stock valued at $4,123,000 after acquiring an additional 2,556 shares during the last quarter. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

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.