Pilgrim's Pride (NASDAQ:PPC) Receives Hold (C+) Rating from Weiss Ratings

Key Points

• Pilgrim's Pride has been assigned a "hold (C+)" rating by Weiss Ratings, with an average consensus target price of $49.00.
• The company reported $1.70 EPS for the last quarter, exceeding expectations, along with a revenue increase of 4.3% year-over-year.
• Institutional investors have been active, with significant stake increases from several firms, highlighting a growing interest in Pilgrim's Pride.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report)'s stock had its "hold (c+)" rating reissued by investment analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Other analysts have also recently issued reports about the stock. 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. The Goldman Sachs Group began coverage on shares of Pilgrim's Pride in a report on Monday, June 23rd. They issued a "neutral" rating and a $50.00 price target on the stock. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $49.00.

Pilgrim's Pride Stock Down 1.5%

PPC stock opened at $37.98 on Wednesday. Pilgrim's Pride has a one year low of $37.03 and a one year high of $57.16. The company has a 50 day moving average price of $44.41 and a two-hundred day moving average price of $47.16. The stock has a market capitalization of $9.02 billion, a P/E ratio of 7.32 and a beta of 0.45. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.88 and a current ratio of 1.63.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last announced its quarterly earnings data 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 company 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 company earned $1.67 EPS. The business's quarterly revenue was up 4.3% compared to the same quarter last year. As a group, sell-side analysts expect that Pilgrim's Pride will post 5.13 EPS for the current year.

Hedge Funds Weigh In On Pilgrim's Pride

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brooklyn Investment Group boosted its position in Pilgrim's Pride by 309.4% in the 1st quarter. Brooklyn Investment Group now owns 651 shares of the company's stock valued at $35,000 after buying an additional 492 shares during the last quarter. Quarry LP purchased a new position in Pilgrim's Pride in the 1st quarter valued at about $43,000. Ameritas Advisory Services LLC purchased a new position in Pilgrim's Pride in the 2nd quarter valued at about $45,000. Caitong International Asset Management Co. Ltd boosted its position in Pilgrim's Pride by 117.5% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,231 shares of the company's stock valued at $55,000 after buying an additional 665 shares during the last quarter. Finally, Raleigh Capital Management Inc. purchased a new position in Pilgrim's Pride in the 1st quarter valued at about $74,000. 16.64% of the stock is 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.

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