Shares of Pilgrim's Pride Corporation (NASDAQ:PPC - Get Free Report) reached a new 52-week low during trading on Tuesday . The company traded as low as $40.06 and last traded at $40.22, with a volume of 1585465 shares traded. The stock had previously closed at $40.53.
Wall Street Analyst Weigh In
A number of research firms recently commented on PPC. The Goldman Sachs Group assumed coverage on shares of Pilgrim's Pride in a research note on Monday, June 23rd. They issued a "neutral" rating and a $50.00 target price for the company. Wall Street Zen cut shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 13th. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $47.50.
Read Our Latest Report on Pilgrim's Pride
Pilgrim's Pride Stock Performance
The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.88 and a current ratio of 1.63. The firm's 50 day simple moving average is $45.49 and its 200 day simple moving average is $47.62. The firm has a market capitalization of $9.55 billion, a price-to-earnings ratio of 7.75 and a beta of 0.50.
Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.16. Pilgrim's Pride had a net margin of 6.81% and a return on equity of 37.15%. The firm had revenue of $4.76 billion during the quarter, compared to analysts' expectations of $4.62 billion. During the same period in the previous year, the business posted $1.67 EPS. The business's revenue was up 4.3% compared to the same quarter last year. Sell-side analysts forecast that Pilgrim's Pride Corporation will post 5.13 earnings per share for the current fiscal year.
Pilgrim's Pride Announces Dividend
The company also recently announced a special dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were paid a $2.10 dividend. The ex-dividend date was Wednesday, August 20th.
Hedge Funds Weigh In On Pilgrim's Pride
Large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Pilgrim's Pride by 18.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 56,066 shares of the company's stock valued at $3,154,000 after purchasing an additional 8,638 shares during the period. GAMMA Investing LLC raised its position in Pilgrim's Pride by 18.6% during the first quarter. GAMMA Investing LLC now owns 3,189 shares of the company's stock worth $174,000 after acquiring an additional 501 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in Pilgrim's Pride during the first quarter worth $355,000. Range Financial Group LLC raised its position in Pilgrim's Pride by 26.5% during the second quarter. Range Financial Group LLC now owns 29,027 shares of the company's stock worth $1,306,000 after acquiring an additional 6,073 shares during the period. Finally, LPL Financial LLC raised its position in Pilgrim's Pride by 135.2% during the first quarter. LPL Financial LLC now owns 98,394 shares of the company's stock worth $5,363,000 after acquiring an additional 56,568 shares during the period. 16.64% of the stock is currently owned by institutional investors and hedge funds.
Pilgrim's Pride Company Profile
(
Get Free Report)
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.
See Also
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