Other equities research analysts have also issued reports about the stock. BidaskClub upgraded shares of Pilgrim’s Pride from a buy rating to a strong-buy rating in a report on Wednesday, August 14th. BMO Capital Markets upgraded shares of Pilgrim’s Pride from a market perform rating to an outperform rating and lifted their price target for the stock from $31.00 to $36.00 in a research note on Tuesday, August 20th. Mizuho lifted their price target on shares of Pilgrim’s Pride from $30.00 to $34.00 and gave the stock a buy rating in a research note on Friday, August 2nd. Stephens lifted their price target on shares of Pilgrim’s Pride from $33.00 to $35.00 and gave the stock an overweight rating in a research note on Thursday, September 19th. Finally, Zacks Investment Research lowered shares of Pilgrim’s Pride from a strong-buy rating to a hold rating and set a $37.00 price target on the stock. in a research note on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $32.20.
Shares of PPC traded up $0.28 during midday trading on Wednesday, reaching $30.97. The stock had a trading volume of 632,763 shares, compared to its average volume of 1,698,822. Pilgrim’s Pride has a 1-year low of $14.83 and a 1-year high of $32.71. The company’s fifty day simple moving average is $30.69 and its two-hundred day simple moving average is $27.15. The company has a market cap of $7.65 billion, a price-to-earnings ratio of 24.20 and a beta of 0.75. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.78 and a quick ratio of 0.93.
In other Pilgrim’s Pride news, CEO Jayson Penn sold 51,222 shares of Pilgrim’s Pride stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $28.29, for a total value of $1,449,070.38. Following the transaction, the chief executive officer now directly owns 204,408 shares in the company, valued at $5,782,702.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Fabio Sandri sold 74,710 shares of Pilgrim’s Pride stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $28.27, for a total transaction of $2,112,051.70. Following the completion of the transaction, the chief financial officer now owns 326,363 shares in the company, valued at $9,226,282.01. The disclosure for this sale can be found here. 78.73% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Destination Wealth Management acquired a new position in Pilgrim’s Pride in the second quarter valued at $53,000. Point72 Hong Kong Ltd acquired a new position in Pilgrim’s Pride in the second quarter valued at $82,000. New York State Teachers Retirement System acquired a new position in Pilgrim’s Pride in the second quarter valued at $119,000. Meeder Asset Management Inc. acquired a new position in Pilgrim’s Pride in the second quarter valued at $138,000. Finally, ClariVest Asset Management LLC acquired a new position in Pilgrim’s Pride in the second quarter valued at $169,000. Institutional investors own 19.75% of the company’s stock.
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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