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.
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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