Pilgrim’s Pride (NASDAQ:PPC)‘s stock had its “buy” rating reissued by equities research analysts at Mizuho in a research note issued to investors on Monday. They presently have a $28.00 price target on the stock. Mizuho’s price target suggests a potential upside of 23.46% from the company’s previous close.
Other equities research analysts also recently issued research reports about the company. Zacks Investment Research raised Pilgrim’s Pride from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Thursday, March 15th. Vertical Group raised Pilgrim’s Pride from a “hold” rating to a “buy” rating in a research report on Wednesday, March 14th. ValuEngine downgraded Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Morgan Stanley set a $25.00 price target on Pilgrim’s Pride and gave the stock a “hold” rating in a research report on Tuesday, February 27th. Finally, BMO Capital Markets reduced their price target on Pilgrim’s Pride to $31.00 and set a “market perform” rating on the stock in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $28.60.
Shares of NASDAQ:PPC opened at $22.68 on Monday. The company has a market cap of $5,664.31, a P/E ratio of 7.85 and a beta of 0.19. Pilgrim’s Pride has a 1 year low of $20.28 and a 1 year high of $38.39. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.87 and a current ratio of 1.73.
In other Pilgrim’s Pride news, CEO William W. Lovette sold 100,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $25.36, for a total transaction of $2,536,000.00. Following the completion of the sale, the chief executive officer now directly owns 578,653 shares in the company, valued at $14,674,640.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 78.81% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PPC. Legal & General Group Plc lifted its stake in Pilgrim’s Pride by 43.6% during the third quarter. Legal & General Group Plc now owns 26,953 shares of the company’s stock worth $766,000 after purchasing an additional 8,184 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Pilgrim’s Pride by 114.4% during the third quarter. Wells Fargo & Company MN now owns 252,786 shares of the company’s stock worth $7,182,000 after purchasing an additional 134,879 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Pilgrim’s Pride by 0.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 383,553 shares of the company’s stock worth $10,897,000 after purchasing an additional 1,676 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Pilgrim’s Pride by 4.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 934,475 shares of the company’s stock valued at $26,548,000 after acquiring an additional 38,754 shares during the last quarter. Finally, OxFORD Asset Management LLP bought a new position in shares of Pilgrim’s Pride in the 3rd quarter valued at $715,000. Hedge funds and other institutional investors own 25.13% of the company’s stock.
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About Pilgrim’s Pride
Pilgrim's Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products in the United States, the United Kingdom, Europe, and Mexico. The company offers fresh chicken products, including pre-marinated or non-marinated refrigerated (nonfrozen) whole or cut-up chicken; and prepackaged case-ready chicken, such as whole chickens and chicken parts.
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