Pilgrim’s Pride (NASDAQ:PPC) Sets New 1-Year High at $36.47

Pilgrim’s Pride Co. (NASDAQ:PPC)’s share price reached a new 52-week high on Monday . The stock traded as high as $36.47 and last traded at $36.15, with a volume of 171965 shares changing hands. The stock had previously closed at $35.77.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PPC. The Goldman Sachs Group raised their price objective on shares of Pilgrim’s Pride from $32.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. TheStreet upgraded shares of Pilgrim’s Pride from a “c+” rating to a “b+” rating in a research report on Monday, February 26th. Bank of America raised their price objective on shares of Pilgrim’s Pride from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Barclays restated an “equal weight” rating and set a $38.00 price objective (up previously from $35.00) on shares of Pilgrim’s Pride in a research report on Tuesday, April 16th. Finally, StockNews.com upgraded shares of Pilgrim’s Pride from a “hold” rating to a “buy” rating in a research report on Tuesday, February 27th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $37.25.

Pilgrim’s Pride Stock Performance

The company has a market cap of $8.46 billion, a PE ratio of 26.46, a PEG ratio of 0.40 and a beta of 0.82. The business’s 50-day moving average is $33.15 and its 200 day moving average is $28.80. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.89 and a current ratio of 1.68.

Pilgrim’s Pride (NASDAQ:PPC) last issued its earnings results on Monday, February 26th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.16. The company had revenue of $4.50 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Pilgrim’s Pride had a net margin of 1.85% and a return on equity of 12.90%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.49) EPS. On average, equities research analysts predict that Pilgrim’s Pride Co. will post 3.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other Pilgrim’s Pride news, CEO Fabio Sandri sold 40,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $33.32, for a total value of $1,332,800.00. Following the sale, the chief executive officer now owns 257,065 shares of the company’s stock, valued at approximately $8,565,405.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 82.63% of the company’s stock.

Institutional Investors Weigh In On Pilgrim’s Pride

Large investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new stake in Pilgrim’s Pride in the 4th quarter worth $28,000. Ronald Blue Trust Inc. boosted its stake in shares of Pilgrim’s Pride by 107.7% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,344 shares of the company’s stock valued at $29,000 after purchasing an additional 697 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Pilgrim’s Pride during the 4th quarter valued at about $30,000. Financial Management Professionals Inc. bought a new stake in shares of Pilgrim’s Pride during the 4th quarter valued at about $32,000. Finally, Clear Street Markets LLC bought a new stake in shares of Pilgrim’s Pride during the 3rd quarter valued at about $50,000. Institutional investors own 16.64% of the company’s stock.

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.