Pilgrim’s Pride Co. (NASDAQ:PPC) Receives Consensus Recommendation of “Hold” from Analysts

Pilgrim’s Pride Co. (NASDAQ:PPC) has received an average recommendation of “Hold” from the seven research firms that are currently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $45.50.

Several equities analysts recently issued reports on PPC shares. StockNews.com lowered shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 2nd. Santander initiated coverage on shares of Pilgrim’s Pride in a report on Wednesday, March 5th. They issued a “neutral” rating on the stock.

Institutional Investors Weigh In On Pilgrim’s Pride

Several hedge funds have recently modified their holdings of the company. US Bancorp DE raised its position in shares of Pilgrim’s Pride by 193.0% during the 3rd quarter. US Bancorp DE now owns 2,795 shares of the company’s stock worth $129,000 after purchasing an additional 1,841 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Pilgrim’s Pride by 61.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 29,285 shares of the company’s stock worth $1,349,000 after purchasing an additional 11,167 shares during the last quarter. Sigma Planning Corp acquired a new position in shares of Pilgrim’s Pride during the 3rd quarter worth about $757,000. United Capital Management of KS Inc. acquired a new position in shares of Pilgrim’s Pride during the 3rd quarter worth about $6,277,000. Finally, Entropy Technologies LP acquired a new position in shares of Pilgrim’s Pride during the 3rd quarter worth about $588,000. 16.64% of the stock is owned by hedge funds and other institutional investors.

Pilgrim’s Pride Stock Performance

Shares of PPC stock opened at $55.93 on Tuesday. The business’s fifty day simple moving average is $49.33 and its 200-day simple moving average is $48.03. The company has a market cap of $13.26 billion, a PE ratio of 12.27 and a beta of 0.71. The company has a current ratio of 2.01, a quick ratio of 1.31 and a debt-to-equity ratio of 0.75. Pilgrim’s Pride has a 12-month low of $32.42 and a 12-month high of $57.16.

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.