Pilgrim’s Pride (NASDAQ:PPC) Research Coverage Started at Stephens

by · The Cerbat Gem

Stephens began coverage on shares of Pilgrim’s Pride (NASDAQ:PPC – Free Report) in a research note released on Thursday morning, Marketbeat.com reports. The brokerage issued an equal weight rating and a $43.00 price objective on the stock.

PPC has been the topic of a number of other research reports. Barclays upped their price target on Pilgrim’s Pride from $43.00 to $45.00 and gave the stock an equal weight rating in a report on Monday, September 9th. Argus upped their target price on Pilgrim’s Pride from $50.00 to $55.00 and gave the company a buy rating in a report on Wednesday, August 28th. BMO Capital Markets reaffirmed a market perform rating and set a $46.00 price target on shares of Pilgrim’s Pride in a research note on Monday, August 12th. Finally, Bank of America downgraded shares of Pilgrim’s Pride from a buy rating to a neutral rating and set a $47.00 target price for the company. in a report on Thursday, August 15th. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $45.33.

Check Out Our Latest Stock Analysis on PPC

Pilgrim’s Pride Trading Up 2.4 %

NASDAQ:PPC opened at $44.60 on Thursday. Pilgrim’s Pride has a 1 year low of $22.92 and a 1 year high of $49.07. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.09 and a current ratio of 1.82. The stock has a fifty day moving average price of $43.89 and a two-hundred day moving average price of $39.06. The stock has a market capitalization of $10.57 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 0.21 and a beta of 0.82.

Pilgrim’s Pride (NASDAQ:PPC – Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.35. The business had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.62 billion. Pilgrim’s Pride had a net margin of 4.25% and a return on equity of 25.06%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 EPS. As a group, sell-side analysts anticipate that Pilgrim’s Pride will post 4.79 earnings per share for the current fiscal year.

Insider Activity at Pilgrim’s Pride

In other news, 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 value of $281,515.00. Following the transaction, the chief financial officer now directly owns 51,750 shares in the company, valued at $2,241,292.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Matthew R. Galvanoni sold 6,500 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were 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 directly owns 51,750 shares of the company’s stock, valued at approximately $2,241,292.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Fabio Sandri sold 65,000 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly owns 279,565 shares in the company, valued at $12,440,642.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 82.63% of the stock is owned by insiders.

Institutional Trading of Pilgrim’s Pride

Several large investors have recently bought and sold shares of PPC. Jones Financial Companies Lllp acquired a new stake in Pilgrim’s Pride during the 4th quarter valued at $28,000. ORG Partners LLC purchased a new position in Pilgrim’s Pride in the 2nd quarter valued at about $32,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Pilgrim’s Pride during the second quarter valued at about $32,000. Headlands Technologies LLC purchased a new stake in shares of Pilgrim’s Pride during the first quarter worth about $38,000. Finally, GAMMA Investing LLC lifted its stake in shares of Pilgrim’s Pride by 102.9% in the second quarter. GAMMA Investing LLC now owns 1,410 shares of the company’s stock worth $54,000 after acquiring an additional 715 shares in the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Company Profile

(Get Free Report)

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.

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