Pilgrim’s Pride Corp. (PPC) PT Lowered to $21.00 at Jefferies Group
Pilgrim’s Pride Corp. (NASDAQ:PPC) had its price objective decreased by analysts at Jefferies Group from $23.00 to $21.00 in a research note issued on Wednesday. The brokerage presently has a “hold” rating on the stock. Jefferies Group’s target price would suggest a potential upside of 0.38% from the company’s current price.
A number of other analysts have also recently weighed in on PPC. Zacks Investment Research raised Pilgrim’s Pride Corp. from a “hold” rating to a “strong-buy” rating and set a $28.00 price target for the company in a research report on Tuesday, June 28th. BMO Capital Markets reaffirmed a “hold” rating and issued a $27.00 price target on shares of Pilgrim’s Pride Corp. in a research report on Friday, July 29th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $26.71.
Pilgrim’s Pride Corp. (NASDAQ:PPC) traded down 0.43% on Wednesday, reaching $20.92. The company’s stock had a trading volume of 1,071,505 shares. The firm has a market capitalization of $5.32 billion, a PE ratio of 11.36 and a beta of 0.29. The stock’s 50 day moving average is $21.68 and its 200-day moving average is $24.00. Pilgrim’s Pride Corp. has a 52 week low of $17.39 and a 52 week high of $27.79.
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Pilgrim’s Pride Corp. (NASDAQ:PPC) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by $0.06. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.02 billion. Pilgrim’s Pride Corp. had a net margin of 5.85% and a return on equity of 40.35%. Pilgrim’s Pride Corp.’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.94 EPS. Analysts predict that Pilgrim’s Pride Corp. will post $1.98 EPS for the current year.
Institutional investors have recently bought and sold shares of the company. LSV Asset Management raised its position in Pilgrim’s Pride Corp. by 87.6% in the second quarter. LSV Asset Management now owns 4,858,622 shares of the company’s stock worth $123,797,000 after buying an additional 2,268,270 shares during the last quarter. Jennison Associates LLC acquired a new position in Pilgrim’s Pride Corp. during the second quarter worth approximately $36,140,000. Emerald Acquisition Ltd. acquired a new position in Pilgrim’s Pride Corp. during the second quarter worth approximately $27,950,000. Prudential Financial Inc. raised its position in Pilgrim’s Pride Corp. by 4,399.6% in the second quarter. Prudential Financial Inc. now owns 1,015,775 shares of the company’s stock worth $25,883,000 after buying an additional 993,200 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in Pilgrim’s Pride Corp. during the second quarter worth approximately $17,698,000. Institutional investors and hedge funds own 27.17% of the company’s stock.
About Pilgrim’s Pride Corp.
Pilgrim’s Pride Corporation (Pilgrim’s) is a retail food store. The Company is a producer and seller of chicken products with operations in the United States, Mexico and Puerto Rico. The Company is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.
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