BMO Capital Markets Trims Pilgrim's Pride (PPC) Target Price to $31.00

Pilgrim's Pride (NASDAQ:PPC) had its price target dropped by stock analysts at BMO Capital Markets to $31.00 in a research report issued to clients and investors on Friday. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective would suggest a potential upside of 14.81% from the company’s previous close.

Several other brokerages have also recently weighed in on PPC. Zacks Investment Research cut Pilgrim's Pride from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 4th. BidaskClub cut Pilgrim's Pride from a “hold” rating to a “sell” rating in a report on Friday, January 5th. ValuEngine cut Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a report on Friday, December 15th. Morgan Stanley initiated coverage on Pilgrim's Pride in a report on Friday, November 3rd. They set an “equal weight” rating and a $30.00 price objective for the company. Finally, Jefferies Group set a $32.00 price objective on Pilgrim's Pride and gave the stock a “hold” rating in a report on Thursday, November 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $30.75.

Shares of Pilgrim's Pride (NASDAQ PPC) opened at $27.00 on Friday. The firm has a market capitalization of $6,716.33, a PE ratio of 9.38 and a beta of 0.03. Pilgrim's Pride has a twelve month low of $20.20 and a twelve month high of $38.39. The company has a current ratio of 1.65, a quick ratio of 0.81 and a debt-to-equity ratio of 1.49.

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