Pilgrim’s Pride (NASDAQ:PPC) Upgraded by Wall Street Zen to “Buy” Rating

Pilgrim’s Pride (NASDAQ:PPC) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other analysts have also issued reports on the company. Santander raised Pilgrim’s Pride from a “neutral” rating to an “outperform” rating in a research report on Thursday, December 11th. The Goldman Sachs Group cut their price objective on Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Pilgrim’s Pride in a research note on Monday, December 29th. Barclays dropped their target price on Pilgrim’s Pride from $49.00 to $45.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 9th. Finally, Zacks Research raised shares of Pilgrim’s Pride from a “strong sell” rating to a “hold” rating in a research report on Friday, November 7th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Pilgrim’s Pride currently has a consensus rating of “Hold” and an average target price of $46.33.

Pilgrim’s Pride Price Performance

Pilgrim’s Pride stock opened at $43.37 on Friday. The company’s 50 day simple moving average is $40.45 and its 200-day simple moving average is $41.46. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.78 and a current ratio of 1.51. Pilgrim’s Pride has a 1 year low of $35.73 and a 1 year high of $57.16. The company has a market capitalization of $10.30 billion, a price-to-earnings ratio of 8.41 and a beta of 0.43.

Hedge Funds Weigh In On Pilgrim’s Pride

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC increased its stake in shares of Pilgrim’s Pride by 59.3% during the second quarter. AQR Capital Management LLC now owns 3,776,178 shares of the company’s stock worth $169,852,000 after buying an additional 1,405,251 shares during the period. Voloridge Investment Management LLC acquired a new position in Pilgrim’s Pride during the 3rd quarter worth approximately $26,501,000. Qube Research & Technologies Ltd increased its position in shares of Pilgrim’s Pride by 138.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 958,312 shares of the company’s stock valued at $39,022,000 after purchasing an additional 556,766 shares during the last quarter. Two Sigma Investments LP increased its position in shares of Pilgrim’s Pride by 654.6% in the 3rd quarter. Two Sigma Investments LP now owns 631,325 shares of the company’s stock valued at $25,708,000 after purchasing an additional 547,663 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Pilgrim’s Pride by 10.0% in the 3rd quarter. Vanguard Group Inc. now owns 5,672,728 shares of the company’s stock valued at $230,993,000 after purchasing an additional 516,598 shares in the last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Company Profile

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.