Pilgrim’s Pride (NASDAQ:PPC) Rating Increased to Hold at UBS Group

by · The Cerbat Gem

UBS Group upgraded shares of Pilgrim’s Pride (NASDAQ:PPC – Free Report) to a hold rating in a research report released on Monday,Zacks.com reports.

PPC has been the subject of a number of other research reports. Zacks Research cut Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 11th. Wall Street Zen cut shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research note on Sunday, February 15th. The Goldman Sachs Group decreased their price objective on shares of Pilgrim’s Pride from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. BMO Capital Markets lowered their target price on shares of Pilgrim’s Pride from $42.00 to $40.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 25th. Finally, Stephens set a $40.00 target price on shares of Pilgrim’s Pride in a report on Wednesday, April 15th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $38.20.

Read Our Latest Stock Analysis on Pilgrim’s Pride

Pilgrim’s Pride Price Performance

NASDAQ PPC opened at $28.65 on Monday. Pilgrim’s Pride has a fifty-two week low of $27.13 and a fifty-two week high of $51.24. The stock’s 50-day moving average is $33.86 and its two-hundred day moving average is $37.95. The firm has a market cap of $6.82 billion, a P/E ratio of 7.68 and a beta of 0.33. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.48 and a quick ratio of 0.73.

Pilgrim’s Pride (NASDAQ:PPC – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.18). Pilgrim’s Pride had a return on equity of 28.57% and a net margin of 4.78%.The company had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter last year, the company posted $1.31 EPS. The business’s revenue was up 1.6% compared to the same quarter last year. On average, analysts anticipate that Pilgrim’s Pride will post 3.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Pilgrim’s Pride by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 5,804,210 shares of the company’s stock worth $226,306,000 after acquiring an additional 131,482 shares during the last quarter. AQR Capital Management LLC increased its position in Pilgrim’s Pride by 18.7% during the third quarter. AQR Capital Management LLC now owns 4,482,124 shares of the company’s stock worth $182,512,000 after acquiring an additional 705,946 shares during the period. Dimensional Fund Advisors LP raised its stake in Pilgrim’s Pride by 12.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,830,054 shares of the company’s stock valued at $144,617,000 after purchasing an additional 411,656 shares during the last quarter. Bank of America Corp DE raised its stake in Pilgrim’s Pride by 22.9% during the 2nd quarter. Bank of America Corp DE now owns 2,171,836 shares of the company’s stock valued at $97,689,000 after purchasing an additional 404,915 shares during the last quarter. Finally, State Street Corp boosted its holdings in Pilgrim’s Pride by 7.0% in the 4th quarter. State Street Corp now owns 1,661,307 shares of the company’s stock valued at $64,774,000 after purchasing an additional 108,949 shares during the period. 16.64% of the stock is owned by institutional investors.

About Pilgrim’s Pride

(Get Free Report)

Pilgrim’s Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim’s Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.

The company’s vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.

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