Pilgrim’s Pride Corporation (PPC) Stock Rating Reaffirmed by BMO Capital Markets

Pilgrim’s Pride Corporation (NASDAQ:PPC)‘s stock had its “neutral” rating reaffirmed by investment analysts at BMO Capital Markets in a note issued to investors on Friday.

Other research analysts have also issued research reports about the stock. BidaskClub raised shares of Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. ValuEngine raised shares of Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC reissued a “hold” rating and issued a $25.00 price target on shares of Pilgrim’s Pride Corporation in a research report on Friday, July 14th. Finally, Zacks Investment Research raised shares of Pilgrim’s Pride Corporation from a “hold” rating to a “strong-buy” rating and set a $28.00 price target for the company in a research report on Wednesday, August 2nd. Three analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $24.50.

Shares of Pilgrim’s Pride Corporation (NASDAQ PPC) opened at 28.40 on Friday. The firm has a market capitalization of $7.06 billion, a PE ratio of 14.33 and a beta of 0.19. The company has a 50 day moving average price of $24.97 and a 200-day moving average price of $23.31. Pilgrim’s Pride Corporation has a 12 month low of $17.15 and a 12 month high of $29.16.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.11. The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.28 billion. Pilgrim’s Pride Corporation had a net margin of 6.05% and a return on equity of 49.65%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 earnings per share. Equities research analysts expect that Pilgrim’s Pride Corporation will post $2.49 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Pilgrim’s Pride Corporation by 6.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,668 shares of the company’s stock valued at $105,000 after buying an additional 267 shares during the period. TrimTabs Asset Management LLC boosted its stake in shares of Pilgrim’s Pride Corporation by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 5,016 shares of the company’s stock valued at $113,000 after buying an additional 2,360 shares in the last quarter. Seven Eight Capital LP purchased a new stake in shares of Pilgrim’s Pride Corporation during the second quarter valued at $134,000. The Manufacturers Life Insurance Company boosted its stake in shares of Pilgrim’s Pride Corporation by 9.5% in the second quarter. The Manufacturers Life Insurance Company now owns 9,203 shares of the company’s stock valued at $201,000 after buying an additional 798 shares in the last quarter. Finally, Amalgamated Bank purchased a new stake in shares of Pilgrim’s Pride Corporation during the second quarter valued at $219,000. 26.03% of the stock is owned by hedge funds and other institutional investors.

About Pilgrim’s Pride Corporation

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.