Pilgrim's Pride (NASDAQ:PPC) Stock Price Expected to Rise, Barclays Analyst Says

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) had its target price boosted by Barclays from $45.00 to $49.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Barclays's price objective points to a potential downside of 2.33% from the company's previous close.

PPC has been the subject of several other reports. Stephens assumed coverage on shares of Pilgrim's Pride in a research report on Thursday, October 3rd. They set an "equal weight" rating and a $43.00 target price for the company. Bank of America lowered Pilgrim's Pride from a "buy" rating to a "neutral" rating and set a $47.00 price objective for the company. in a research note on Thursday, August 15th. Argus lifted their target price on Pilgrim's Pride from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Wednesday, August 28th. Finally, BMO Capital Markets upped their price target on Pilgrim's Pride from $42.00 to $43.00 and gave the stock a "market perform" rating in a research report on Friday. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Pilgrim's Pride has a consensus rating of "Hold" and a consensus target price of $45.50.

Pilgrim's Pride Stock Up 3.6 %

Shares of Pilgrim's Pride stock traded up $1.73 on Friday, reaching $50.17. The company's stock had a trading volume of 1,827,256 shares, compared to its average volume of 902,916. Pilgrim's Pride has a 52 week low of $25.23 and a 52 week high of $51.21. The firm's fifty day simple moving average is $44.98 and its two-hundred day simple moving average is $40.66. The company has a quick ratio of 1.09, a current ratio of 1.82 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $11.90 billion, a price-to-earnings ratio of 12.12, a P/E/G ratio of 0.24 and a beta of 0.82.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.63 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.36. The firm had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.69 billion. Pilgrim's Pride had a net margin of 5.46% and a return on equity of 31.38%. The business's revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.58 earnings per share. Equities analysts anticipate that Pilgrim's Pride will post 4.79 earnings per share for the current year.

Insiders Place Their Bets

In other Pilgrim's Pride news, CEO Fabio Sandri sold 65,000 shares of the business's stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 279,565 shares of the company's stock, valued at $12,440,642.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Pilgrim's Pride news, CEO Fabio Sandri sold 65,000 shares of the business's stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $44.50, for a total transaction of $2,892,500.00. Following the transaction, the chief executive officer now owns 279,565 shares in the company, valued at $12,440,642.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Matthew R. Galvanoni sold 6,500 shares of the firm's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $43.31, for a total transaction of $281,515.00. Following the completion of the sale, the chief financial officer now owns 51,750 shares of the company's stock, valued at $2,241,292.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 82.63% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Assetmark Inc. raised its position in Pilgrim's Pride by 145,879.0% during the 3rd quarter. Assetmark Inc. now owns 827,701 shares of the company's stock valued at $38,116,000 after purchasing an additional 827,134 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Pilgrim's Pride by 366.1% in the second quarter. AQR Capital Management LLC now owns 638,825 shares of the company's stock valued at $24,320,000 after acquiring an additional 501,776 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Pilgrim's Pride by 88.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 433,891 shares of the company's stock worth $19,981,000 after acquiring an additional 203,408 shares during the period. Advisors Preferred LLC bought a new position in Pilgrim's Pride during the 1st quarter worth about $6,515,000. Finally, Vanguard Group Inc. raised its holdings in shares of Pilgrim's Pride by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 4,233,961 shares of the company's stock valued at $145,310,000 after purchasing an additional 136,970 shares in the last quarter. 16.64% of the stock is currently owned by institutional investors.

Pilgrim's Pride Company Profile

Pilgrim's Pride Corporation produces, 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 refrigerated whole or cut-up chicken, selected chicken parts that are either marinated or non-marinated, primary pork cuts, added value pork, and pork ribs; and prepared products, which include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, processed sausages, bacon, smoked meat, gammon joints, pre-packed meats, sandwich and deli counter meats and meat balls.