Pilgrim’s Pride (PPC) Hits New 12-Month Low at $19.24
Shares of Pilgrim’s Pride Co. (NASDAQ:PPC) reached a new 52-week low during trading on Wednesday . The stock traded as low as $19.24 and last traded at $19.29, with a volume of 47140 shares. The stock had previously closed at $19.77.
PPC has been the subject of several recent analyst reports. BidaskClub raised shares of Pilgrim’s Pride from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 12th. ValuEngine downgraded shares of Pilgrim’s Pride from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Zacks Investment Research downgraded shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a report on Tuesday, May 22nd. Mizuho initiated coverage on shares of Pilgrim’s Pride in a report on Wednesday, March 28th. They set a “buy” rating and a $29.00 price objective for the company. Finally, TheStreet downgraded shares of Pilgrim’s Pride from a “b-” rating to a “c” rating in a report on Thursday, May 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Pilgrim’s Pride presently has a consensus rating of “Hold” and a consensus target price of $27.80.
The firm has a market capitalization of $5.02 billion, a PE ratio of 6.68 and a beta of 0.23. The company has a current ratio of 1.80, a quick ratio of 0.94 and a debt-to-equity ratio of 1.29.
Large investors have recently added to or reduced their stakes in the stock. Advisors Preferred LLC acquired a new position in shares of Pilgrim’s Pride in the 1st quarter valued at $100,000. Clarus Wealth Advisors acquired a new position in shares of Pilgrim’s Pride in the 2nd quarter valued at $161,000. Tiverton Asset Management LLC acquired a new position in shares of Pilgrim’s Pride in the 1st quarter valued at $173,000. Cerebellum GP LLC acquired a new position in shares of Pilgrim’s Pride in the 2nd quarter valued at $168,000. Finally, Glenmede Trust Co. NA raised its stake in shares of Pilgrim’s Pride by 96.9% in the 4th quarter. Glenmede Trust Co. NA now owns 8,361 shares of the company’s stock valued at $259,000 after buying an additional 4,115 shares in the last quarter. Hedge funds and other institutional investors own 23.89% of the company’s stock.
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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