Pilgrim’s Pride (NASDAQ:PPC) Stock Rating Upgraded by Wall Street Zen

Pilgrim’s Pride (NASDAQ:PPC) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

PPC has been the topic of several other reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pilgrim’s Pride in a report on Monday, December 29th. Barclays lowered their price objective on Pilgrim’s Pride from $49.00 to $45.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 9th. The Goldman Sachs Group reduced their target price on Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Santander upgraded Pilgrim’s Pride from a “neutral” rating to an “outperform” rating in a research report on Thursday, December 11th. Finally, Zacks Research raised Pilgrim’s Pride from a “strong sell” rating to a “hold” rating in a research note on Friday, November 7th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $46.33.

Pilgrim’s Pride Stock Performance

NASDAQ PPC opened at $43.37 on Friday. The company has a current ratio of 1.51, a quick ratio of 0.78 and a debt-to-equity ratio of 0.87. Pilgrim’s Pride has a twelve month low of $35.73 and a twelve month high of $57.16. The stock has a 50-day moving average of $40.45 and a 200 day moving average of $41.46. The stock has a market capitalization of $10.30 billion, a price-to-earnings ratio of 8.41 and a beta of 0.43.

Hedge Funds Weigh In On Pilgrim’s Pride

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PPC. Torren Management LLC acquired a new position in shares of Pilgrim’s Pride during the 4th quarter valued at about $31,000. True Wealth Design LLC grew its position in Pilgrim’s Pride by 1,248.5% in the third quarter. True Wealth Design LLC now owns 917 shares of the company’s stock worth $37,000 after acquiring an additional 849 shares during the period. Kingdom Financial Group LLC. acquired a new stake in Pilgrim’s Pride during the fourth quarter worth $37,000. Ameritas Advisory Services LLC purchased a new stake in Pilgrim’s Pride in the second quarter valued at $45,000. Finally, Clearstead Advisors LLC lifted its stake in shares of Pilgrim’s Pride by 1,522.6% in the 3rd quarter. Clearstead Advisors LLC now owns 1,006 shares of the company’s stock valued at $41,000 after purchasing an additional 944 shares during the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

About Pilgrim’s Pride

Pilgrim’s Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim’s Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.

The company’s vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.