Analysts Set Pilgrim’s Pride Corporation (NASDAQ:PPC) Price Target at $47.50

Pilgrim’s Pride Corporation (NASDAQ:PPC) has been assigned an average rating of “Hold” from the five research firms that are covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $47.50.

A number of equities research analysts have commented on the stock. Wall Street Zen cut shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 13th. The Goldman Sachs Group began coverage on shares of Pilgrim’s Pride in a research report on Monday, June 23rd. They set a “neutral” rating and a $50.00 price objective on the stock.

Hedge Funds Weigh In On Pilgrim’s Pride

A number of hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its stake in Pilgrim’s Pride by 18.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 56,066 shares of the company’s stock valued at $3,154,000 after purchasing an additional 8,638 shares during the period. GAMMA Investing LLC grew its holdings in Pilgrim’s Pride by 18.6% during the 1st quarter. GAMMA Investing LLC now owns 3,189 shares of the company’s stock valued at $174,000 after buying an additional 501 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Pilgrim’s Pride during the first quarter valued at approximately $355,000. Range Financial Group LLC lifted its holdings in shares of Pilgrim’s Pride by 26.5% in the second quarter. Range Financial Group LLC now owns 29,027 shares of the company’s stock worth $1,306,000 after buying an additional 6,073 shares in the last quarter. Finally, LPL Financial LLC boosted its position in shares of Pilgrim’s Pride by 135.2% during the first quarter. LPL Financial LLC now owns 98,394 shares of the company’s stock worth $5,363,000 after acquiring an additional 56,568 shares during the last quarter. Institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Trading Down 0.8%

NASDAQ:PPC opened at $40.22 on Friday. The firm has a market capitalization of $9.55 billion, a price-to-earnings ratio of 7.75 and a beta of 0.50. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.63 and a quick ratio of 0.88. The business has a fifty day moving average price of $45.49 and a 200-day moving average price of $47.62. Pilgrim’s Pride has a one year low of $40.06 and a one year high of $57.16.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.16. Pilgrim’s Pride had a return on equity of 37.15% and a net margin of 6.81%.The business had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.62 billion. During the same quarter in the previous year, the company posted $1.67 earnings per share. Pilgrim’s Pride’s revenue for the quarter was up 4.3% on a year-over-year basis. Sell-side analysts forecast that Pilgrim’s Pride will post 5.13 EPS for the current year.

Pilgrim’s Pride Dividend Announcement

The firm also recently declared a special dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th were issued a dividend of $2.10 per share. The ex-dividend date of this dividend was Wednesday, August 20th.

About Pilgrim’s Pride

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.