Brokerages Set Price Target for Pilgrim’s Pride Co. (NASDAQ:PPC) at $44.40

Shares of Pilgrim’s Pride Co. (NASDAQ:PPC – Get Free Report ) has earned a consensus recommendation of “Hold” from the five research firms that are currently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $44.40.

A number of equities research analysts have recently weighed in on the company. Argus boosted their price target on Pilgrim’s Pride from $41.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. StockNews.com upgraded Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 3rd. BMO Capital Markets restated a “market perform” rating and issued a $46.00 target price on shares of Pilgrim’s Pride in a report on Monday, August 12th. Barclays boosted their target price on shares of Pilgrim’s Pride from $40.00 to $43.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Finally, Bank of America cut shares of Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 target price on the stock. in a report on Thursday, August 15.

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Insider trading at Pilgrim’s Pride

In other news, CEO Fabio Sandri sold 65,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $44.50, for a total transaction of $2,892,500.00. Following the completion of the transaction, the chief executive officer now directly owns 279,565 shares in the company, valued at $12,440,642.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. In related news, CFO Matthew R. Galvanoni sold 6,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $43.31, for a total value of $281,515.00. Following the transaction, the chief financial officer now directly owns 51,750 shares of the company’s stock, valued at approximately $2,241,292.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible via this hyperlink. Also, CEO Fabio Sandri sold 65,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $44.50, for a total value of $2,892,500.00. Following the sale, the chief executive officer now owns 279,565 shares in the company, valued at $12,440,642.50. The disclosure for this sale can be found here. Insiders own 82.63% of the company’s shares.

Institutional inputs and outputs

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp acquired a new position in Pilgrim’s Pride in the fourth quarter valued at about $28,000. GAMMA Investing LLC acquired a new position in shares of Pilgrim’s Pride in the fourth quarter valued at approximately $30,000. ORG Partners LLC bought a new stake in Pilgrim’s Pride in the second quarter valued at approximately $32,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Pilgrim’s Pride in the second quarter valued at about $32,000. Finally, Headlands Technologies LLC purchased a new stake in Pilgrim’s Pride in the first quarter valued at about $38,000. Institutional investors own 16.64% of the company’s shares.

Pilgrim’s Pride Price Performance

Shares of NASDAQ:PPC opened at $43.97 on Tuesday. Pilgrim’s Pride has a one year low of $22.33 and a one year high of $45.89. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.82, and a quick ratio of 1.01. The firm has a market cap of $10.42 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 0.27 and a beta of 0.78. The company’s fifty day moving average price is $40.00 and its 200 day moving average price is $36.03.

Pilgrim’s Pride (NASDAQ:PPC – Get Your Free Report ) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.35. The firm had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.62 billion. Pilgrim’s Pride had a return on equity of 25.06% and a net margin of 4.25%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.44 EPS. On average, equities research analysts anticipate that Pilgrim’s Pride will post 4.25 earnings per share for the current fiscal year.

About Pilgrim’s Pride

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Pilgrim’s Pride Corporation manufactures, processes, markets and distributes fresh, frozen and value-added chicken and pork products to retailers, distributors and foodservice operators. The company offers fresh products including whole or cut chilled chicken, selected chicken parts that are either marinated or unmarinated, prime cuts of pork, value-added pork and pork ribs; and prepared products, which include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and meatballs, processed sausages, bacon, smoked meats, gammon joints, prepackaged meats, sandwich and deli meats and patties.

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