Pilgrim’s Pride (NASDAQ:PPC) Raised to Strong-Buy at BidaskClub

BidaskClub upgraded shares of Pilgrim’s Pride (NASDAQ:PPC) from a buy rating to a strong-buy rating in a report released on Wednesday morning, BidAskClub reports.

Other equities research analysts have also issued reports about the company. Zacks Investment Research upgraded Pilgrim’s Pride from a sell rating to a hold rating in a report on Tuesday, April 16th. ValuEngine upgraded Pilgrim’s Pride from a hold rating to a buy rating in a report on Thursday, April 18th. BMO Capital Markets boosted their target price on Pilgrim’s Pride to $31.00 and gave the stock an in-line rating in a report on Friday, May 3rd. They noted that the move was a valuation call. Cleveland Research upgraded Pilgrim’s Pride from a neutral rating to a buy rating in a report on Wednesday, May 22nd. Finally, Barclays restated a buy rating on shares of Pilgrim’s Pride in a report on Sunday, May 5th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Pilgrim’s Pride presently has an average rating of Buy and an average price target of $25.94.

Shares of Pilgrim’s Pride stock opened at $28.88 on Wednesday. The firm has a market cap of $7.20 billion, a price-to-earnings ratio of 22.56 and a beta of 0.81. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.78 and a quick ratio of 0.93. Pilgrim’s Pride has a 52-week low of $14.83 and a 52-week high of $30.35. The stock has a 50-day simple moving average of $27.33 and a 200-day simple moving average of $24.67.



Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.09. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.86 billion. Pilgrim’s Pride had a return on equity of 15.58% and a net margin of 2.53%. The firm’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 EPS. As a group, equities research analysts predict that Pilgrim’s Pride will post 1.99 earnings per share for the current year.

In related news, CEO Jayson Penn sold 51,222 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $28.29, for a total value of $1,449,070.38. Following the completion of the sale, the chief executive officer now directly owns 204,408 shares in the company, valued at approximately $5,782,702.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Fabio Sandri sold 74,710 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $28.27, for a total value of $2,112,051.70. Following the completion of the sale, the chief financial officer now owns 326,363 shares of the company’s stock, valued at $9,226,282.01. The disclosure for this sale can be found here. 78.73% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of PPC. Man Group plc increased its position in Pilgrim’s Pride by 1,850.8% in the 2nd quarter. Man Group plc now owns 1,745,958 shares of the company’s stock worth $44,330,000 after buying an additional 1,656,458 shares during the period. Norges Bank bought a new position in Pilgrim’s Pride in the 4th quarter worth approximately $15,841,000. APG Asset Management N.V. bought a new position in Pilgrim’s Pride in the 2nd quarter worth approximately $11,224,000. Rubric Capital Management LP bought a new position in Pilgrim’s Pride in the 1st quarter worth approximately $9,460,000. Finally, Prudential Financial Inc. increased its position in Pilgrim’s Pride by 23.5% in the 2nd quarter. Prudential Financial Inc. now owns 2,225,706 shares of the company’s stock worth $56,511,000 after buying an additional 423,761 shares during the period. 18.83% of the stock is currently owned by institutional investors.

Pilgrim’s Pride Company Profile

Pilgrim's Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products in the United States, the United Kingdom, Europe, and Mexico. The company offers fresh chicken products, including pre-marinated or non-marinated refrigerated (nonfrozen) whole or cut-up chicken; and prepackaged case-ready chicken, such as whole chickens and chicken parts.

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Analyst Recommendations for Pilgrim`s Pride (NASDAQ:PPC)

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