Pilgrim's Pride (PPC) Price Target Cut to $31.00 by Analysts at BMO Capital Markets

Pilgrim's Pride (NASDAQ:PPC) had its price objective decreased by BMO Capital Markets to $31.00 in a report published on Friday morning. BMO Capital Markets currently has a market perform rating on the stock.

A number of other analysts also recently issued reports on PPC. KeyCorp initiated coverage on shares of Pilgrim's Pride in a report on Tuesday, October 31st. They set a hold rating for the company. Morgan Stanley initiated coverage on shares of Pilgrim's Pride in a report on Friday, November 3rd. They set an equal weight rating and a $30.00 price target for the company. BidaskClub downgraded shares of Pilgrim's Pride from a strong-buy rating to a buy rating in a report on Tuesday, November 7th. Jefferies Group set a $32.00 price target on shares of Pilgrim's Pride and gave the stock a hold rating in a report on Thursday, November 16th. Finally, ValuEngine downgraded shares of Pilgrim's Pride from a strong-buy rating to a buy rating in a report on Friday, December 15th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $30.75.

Shares of Pilgrim's Pride (PPC) traded up $0.50 during midday trading on Friday, hitting $27.00. 1,758,029 shares of the stock were exchanged, compared to its average volume of 1,360,298. The firm has a market cap of $6,591.94, a P/E ratio of 9.68 and a beta of 0.03. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.65 and a quick ratio of 0.81. Pilgrim's Pride has a fifty-two week low of $20.20 and a fifty-two week high of $38.39.

A number of hedge funds have recently modified their holdings of the business. Glenmede Trust Co. NA boosted its position in Pilgrim's Pride by 96.9% in the 4th quarter. Glenmede Trust Co. NA now owns 8,361 shares of the company’s stock valued at $259,000 after buying an additional 4,115 shares during the period. Macquarie Group Ltd. lifted its position in shares of Pilgrim's Pride by 89.1% during the 4th quarter. Macquarie Group Ltd. now owns 116,100 shares of the company’s stock worth $3,607,000 after purchasing an additional 54,700 shares during the last quarter. Vident Investment Advisory LLC lifted its position in shares of Pilgrim's Pride by 9.2% during the 4th quarter. Vident Investment Advisory LLC now owns 116,592 shares of the company’s stock worth $3,621,000 after purchasing an additional 9,799 shares during the last quarter. Verition Fund Management LLC lifted its position in shares of Pilgrim's Pride by 152.5% during the 4th quarter. Verition Fund Management LLC now owns 39,548 shares of the company’s stock worth $1,228,000 after purchasing an additional 23,884 shares during the last quarter. Finally, LPL Financial LLC lifted its position in shares of Pilgrim's Pride by 12.6% during the 4th quarter. LPL Financial LLC now owns 18,164 shares of the company’s stock worth $564,000 after purchasing an additional 2,030 shares during the last quarter. 24.70% of the stock is owned by institutional investors.

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About Pilgrim's Pride

Pilgrim’s Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.

Analyst Recommendations for Pilgrim's Pride (NASDAQ:PPC)

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