Pilgrim's Pride (NASDAQ:PPC) had its price objective reduced by BMO Capital Markets to $31.00 in a report issued on Friday, February 16th. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ target price indicates a potential upside of 23.95% from the company’s previous close.
A number of other brokerages have also recently issued reports on PPC. KeyCorp began coverage on shares of Pilgrim's Pride in a research note on Tuesday, October 31st. They issued a “hold” rating for the company. Morgan Stanley began coverage on shares of Pilgrim's Pride in a research note on Friday, November 3rd. They issued an “equal weight” rating and a $30.00 price objective for the company. BidaskClub cut shares of Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 7th. Jefferies Group set a $32.00 target price on shares of Pilgrim's Pride and gave the stock a “hold” rating in a research report on Thursday, November 16th. Finally, ValuEngine cut shares of Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 15th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $30.75.
Pilgrim's Pride (NASDAQ:PPC) traded up $0.08 during trading hours on Friday, reaching $25.01. 1,030,000 shares of the company traded hands, compared to its average volume of 1,370,000. The firm has a market cap of $6,240.00, a PE ratio of 9.55 and a beta of 0.03. Pilgrim's Pride has a 1 year low of $20.26 and a 1 year high of $38.39. The company has a current ratio of 1.73, a quick ratio of 0.81 and a debt-to-equity ratio of 1.42.
Several hedge funds and other institutional investors have recently modified their holdings of the company. California Public Employees Retirement System boosted its stake in Pilgrim's Pride by 2.2% during the 2nd quarter. California Public Employees Retirement System now owns 169,900 shares of the company’s stock worth $3,724,000 after acquiring an additional 3,600 shares during the last quarter. Prudential Financial Inc. boosted its stake in Pilgrim's Pride by 151.0% during the 3rd quarter. Prudential Financial Inc. now owns 759,645 shares of the company’s stock worth $21,582,000 after acquiring an additional 457,000 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in Pilgrim's Pride by 78.6% during the 2nd quarter. Lord Abbett & CO. LLC now owns 175,900 shares of the company’s stock worth $3,856,000 after buying an additional 77,400 shares during the period. Ameriprise Financial Inc. raised its holdings in Pilgrim's Pride by 58.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 789,349 shares of the company’s stock worth $22,427,000 after buying an additional 292,700 shares during the period. Finally, Sterling Capital Management LLC raised its holdings in Pilgrim's Pride by 3.5% during the 3rd quarter. Sterling Capital Management LLC now owns 130,535 shares of the company’s stock worth $3,708,000 after buying an additional 4,400 shares during the period. 25.09% of the stock is currently 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.
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