A number of other research firms also recently issued reports on PPC. The Goldman Sachs Group cut their price target on Pilgrim’s Pride from $32.00 to $28.00 and set a “neutral” rating for the company in a research note on Tuesday, October 18th. Barclays cut their price target on Pilgrim’s Pride from $36.00 to $29.00 and set an “overweight” rating for the company in a research note on Tuesday, October 25th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Pilgrim’s Pride presently has an average rating of “Moderate Buy” and a consensus target price of $32.00.
Pilgrim’s Pride Stock Performance
Shares of Pilgrim’s Pride stock traded down $0.19 during trading hours on Tuesday, reaching $25.98. 547,088 shares of the stock traded hands, compared to its average volume of 779,446. The company has a 50 day moving average price of $24.92 and a 200 day moving average price of $26.11. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 6.70, a P/E/G ratio of 2.35 and a beta of 0.96. Pilgrim’s Pride has a one year low of $20.23 and a one year high of $34.66. The company has a quick ratio of 0.80, a current ratio of 1.55 and a debt-to-equity ratio of 1.16.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Pilgrim’s Pride by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 6,857,532 shares of the company’s stock worth $157,861,000 after purchasing an additional 250,383 shares in the last quarter. BlackRock Inc. lifted its holdings in Pilgrim’s Pride by 9.9% in the 1st quarter. BlackRock Inc. now owns 4,464,867 shares of the company’s stock worth $112,067,000 after purchasing an additional 401,749 shares in the last quarter. Prudential Financial Inc. lifted its holdings in Pilgrim’s Pride by 31.9% in the 3rd quarter. Prudential Financial Inc. now owns 1,802,446 shares of the company’s stock worth $41,492,000 after purchasing an additional 436,000 shares in the last quarter. State Street Corp lifted its holdings in Pilgrim’s Pride by 2.6% in the 1st quarter. State Street Corp now owns 1,271,899 shares of the company’s stock worth $31,925,000 after purchasing an additional 32,598 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Pilgrim’s Pride by 27.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,259,418 shares of the company’s stock worth $28,991,000 after purchasing an additional 269,398 shares in the last quarter. 16.81% of the stock is owned by hedge funds and other institutional investors.
Pilgrim’s Pride Company Profile
Pilgrim’s Pride Corp. is engaged in the production, processing, marketing and distribution of fresh, frozen, and value-added chicken products to retailers, distributors and foodservice operators. It operates through the following segments: U.S., U.K. & Europe and Mexico. The company was founded by Lonnie A.
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