The Goldman Sachs Group started coverage on shares of Pilgrim’s Pride (NASDAQ:PPC – Free Report) in a research report released on Monday, MarketBeat reports. The firm issued a neutral rating and a $50.00 price objective on the stock.
Other analysts also recently issued reports about the company. Wall Street Zen upgraded Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Santander began coverage on shares of Pilgrim’s Pride in a report on Wednesday, March 5th. They issued a “neutral” rating for the company. Finally, BMO Capital Markets lifted their price target on shares of Pilgrim’s Pride from $47.00 to $48.00 and gave the stock a “market perform” rating in a research note on Monday, March 17th. Six investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $48.67.
Read Our Latest Research Report on Pilgrim’s Pride
Pilgrim’s Pride Stock Performance
Pilgrim’s Pride (NASDAQ:PPC – Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.05. The business had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.53 billion. Pilgrim’s Pride had a return on equity of 36.95% and a net margin of 6.72%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the company earned $0.77 EPS. On average, equities research analysts forecast that Pilgrim’s Pride will post 5.13 EPS for the current fiscal year.
Institutional Investors Weigh In On Pilgrim’s Pride
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PPC. Brooklyn Investment Group increased its stake in shares of Pilgrim’s Pride by 309.4% during the first quarter. Brooklyn Investment Group now owns 651 shares of the company’s stock valued at $35,000 after buying an additional 492 shares during the period. Accredited Wealth Management LLC purchased a new stake in Pilgrim’s Pride in the fourth quarter worth about $41,000. Quarry LP bought a new position in Pilgrim’s Pride during the 1st quarter worth about $43,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Pilgrim’s Pride during the 4th quarter valued at about $55,000. Finally, Raleigh Capital Management Inc. purchased a new position in Pilgrim’s Pride during the 1st quarter valued at about $74,000. Institutional investors own 16.64% of the company’s stock.
About Pilgrim’s Pride
Pilgrim’s Pride Corp. engages in the production, processing, marketing, and distribution of fresh, frozen and value-added chicken and pork products to retailers, distributors, and foodservice operators. It operates through the following segments: U.S., U.K. and Europe, and Mexico. The company was founded by Lonnie A.
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