Pilgrim's Pride Co. (NASDAQ:PPC - Get Free Report) shares rose 4.1% on Monday . The company traded as high as $48.21 and last traded at $48.43. Approximately 269,498 shares were traded during trading, a decline of 70% from the average daily volume of 885,483 shares. The stock had previously closed at $46.54.
Wall Street Analysts Forecast Growth
PPC has been the subject of a number of research reports. Barclays increased their price target on shares of Pilgrim's Pride from $45.00 to $49.00 and gave the stock an "equal weight" rating in a research note on Friday, November 1st. BMO Capital Markets increased their target price on Pilgrim's Pride from $42.00 to $43.00 and gave the stock a "market perform" rating in a research report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $45.50.
Check Out Our Latest Report on PPC
Pilgrim's Pride Stock Up 2.0 %
The stock's 50 day simple moving average is $47.37 and its two-hundred day simple moving average is $46.36. The firm has a market cap of $11.54 billion, a P/E ratio of 11.75, a P/E/G ratio of 0.20 and a beta of 0.82. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.95 and a quick ratio of 1.27.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. purchased a new stake in shares of Pilgrim's Pride in the third quarter worth $27,000. ORG Wealth Partners LLC purchased a new stake in Pilgrim's Pride during the 3rd quarter valued at about $29,000. Raleigh Capital Management Inc. bought a new stake in Pilgrim's Pride during the 3rd quarter valued at about $34,000. Quarry LP raised its holdings in Pilgrim's Pride by 295.8% in the third quarter. Quarry LP now owns 946 shares of the company's stock worth $44,000 after buying an additional 707 shares during the last quarter. Finally, R Squared Ltd bought a new position in shares of Pilgrim's Pride in the fourth quarter worth approximately $59,000. Institutional investors own 16.64% of the company's stock.
About Pilgrim's Pride
(
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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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