Pilgrim Pride (NASDAQ: PPC) had raised its target price from investment analysts at Barclays from USD 25.00 to USD 28.00 in a report published on Thursday, Benzinga reports. The company currently has an “overweight” rating on the stock. Barclays’ price target indicates a potential upside of 17.70% from the current price of the stock.
Other equity analysts have also recently published research reports on the stock. BMO Capital Markets raised its price target on Pilgrim’s Pride shares from USD 21.00 to USD 28.00 and gave the company a “market performance” rating in a research note on Friday April 30th. Zacks Investment Research downgraded Pilgrim’s Pride from a “buy” rating to a “hold” rating and set a price target of $ 25.00 on the stock. in a research note on Tuesday April 6th. Finally, Stephens upgraded Pilgrim’s Pride in a research release on Monday, February 8th, from “equilibrium” to “overweight” and raised its target price for the company from $ 20.00 to $ 25.00. Two research analysts for stocks have given the stock a hold rating and three have given it a buy rating. The company currently has an average rating of “Buy” and a consensus price target of $ 25.00.
PPC stock opened at $ 23.79 on Thursday. The company has a current metric of 1.68, a quick ratio of 0.84 and debt of 0.86. The company has a market cap of $ 5.80 billion, a P / E of 44.89, a price to earnings-to-growth ratio of 0.45, and a beta of 1.12. The company’s fifty-day moving average price is $ 24.37. Pilgrim’s Pride has a 52-week low of $ 14.06 and a 52-week high of $ 26.27.
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Pilgrim’s Pride (NASDAQ: PPC) last released its quarterly earnings data on Wednesday April 28th. The company reported $ 0.42 EPS for the quarter, beating analysts’ consensus estimate of $ 0.35 by $ 0.07. Pilgrim’s Pride had a return on equity of 12.83% and a net margin of 1.04%. The company had revenue of $ 3.27 billion for the quarter, compared to the consensus estimate of $ 3.25 billion. In the same period last year, the company achieved $ 0.12 EPS. The company’s quarterly sales increased 6.5% compared to the same quarter last year. As a group, stock analysts predict that Pilgrim’s Pride will post earnings per share of 2.06 for the current year.
In other Pilgrim’s Pride news, CFO Matthew R. Galvanoni sold 2,951 shares in the company in a transaction that occurred Tuesday, April 6th. The stock sold at an average price of $ 24.16 for a total value of $ 71,296.16. Following the transaction, the CFO now directly owns 6,508 shares in the company valued at approximately $ 157,233.28. The sale was announced in a filing with the SEC, which is available on the SEC website. 80.54% of the shares are owned by insiders.
Hedge funds have recently changed their positions in the business. The Louisiana State Employees Retirement System increased its stake in Pilgrim’s Pride by 4.1% in the first quarter. The Louisiana State Employees Retirement System now owns 12,700 shares in the company, valued at $ 302,000, after purchasing an additional 500 shares last quarter. Commonwealth Equity Services LLC increased its stake in Pilgrim’s Pride by 6.8% in the first quarter. Commonwealth Equity Services LLC now owns 12,215 shares in the company valued at $ 290,000 after purchasing an additional 775 shares last quarter. The Swiss National Bank increased its stake in Pilgrim’s Pride by 0.9% in the first quarter. The Swiss National Bank now owns 111,300 shares in the company valued at $ 2,648,000 after buying an additional 1,000 shares last quarter. Amundi Pioneer Asset Management Inc. increased its position in Pilgrim’s Pride stocks by 12.1% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 9,863 shares in the company valued at $ 220,000 after purchasing an additional 1,063 shares last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Pilgrim’s Pride stock by 30.4% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 5,086 shares in the company valued at $ 100,000 after purchasing an additional 1,187 shares last quarter. Institutional investors hold 15.95% of the shares.
About Pilgrim’s Pride
Pilgrim’s Pride Corporation manufactures, processes, markets, and distributes fresh, frozen, and value added chicken and pork products to retailers, distributors, and hospitality establishments in the United States, United Kingdom, Mexico, France, Puerto Rico, the Netherlands, rest of Europe, the Middle East, Asia and international.
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