Stephens lowered shares of Pilgrim’s Pride (NASDAQ:PPC) from an overweight rating to an equal weight rating in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. They currently have $35.00 price target on the stock.

PPC has been the topic of a number of other research reports. ValuEngine downgraded Pilgrim’s Pride from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Zacks Investment Research upgraded Pilgrim’s Pride from a hold rating to a strong-buy rating and set a $37.00 target price on the stock in a research report on Friday, January 3rd. Bank of America started coverage on Pilgrim’s Pride in a research report on Friday, October 25th. They issued a neutral rating and a $32.00 target price on the stock. Finally, BidaskClub downgraded Pilgrim’s Pride from a hold rating to a sell rating in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $32.17.

NASDAQ:PPC traded down $0.42 on Thursday, reaching $29.50. The company’s stock had a trading volume of 719,300 shares, compared to its average volume of 736,800. Pilgrim’s Pride has a 12-month low of $18.11 and a 12-month high of $33.67. The company has a quick ratio of 0.94, a current ratio of 1.82 and a debt-to-equity ratio of 1.08. The firm has a market cap of $7.37 billion, a price-to-earnings ratio of 23.05, a price-to-earnings-growth ratio of 0.58 and a beta of 0.74. The stock has a 50 day moving average price of $32.00 and a 200 day moving average price of $30.20.

Pilgrim’s Pride (NASDAQ:PPC) last posted its earnings results on Wednesday, October 30th. The company reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.02. Pilgrim’s Pride had a return on equity of 17.87% and a net margin of 3.24%. The company had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the previous year, the business earned $0.21 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities research analysts expect that Pilgrim’s Pride will post 1.74 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of PPC. Man Group plc grew its stake in shares of Pilgrim’s Pride by 1,850.8% in the second quarter. Man Group plc now owns 1,745,958 shares of the company’s stock valued at $44,330,000 after buying an additional 1,656,458 shares in the last quarter. State Street Corp grew its stake in Pilgrim’s Pride by 75.0% during the 3rd quarter. State Street Corp now owns 1,280,486 shares of the company’s stock worth $41,033,000 after purchasing an additional 548,589 shares in the last quarter. First Trust Advisors LP grew its stake in Pilgrim’s Pride by 131.1% during the 3rd quarter. First Trust Advisors LP now owns 804,116 shares of the company’s stock worth $25,768,000 after purchasing an additional 456,111 shares in the last quarter. Millennium Management LLC grew its stake in Pilgrim’s Pride by 6,029.4% during the 3rd quarter. Millennium Management LLC now owns 438,774 shares of the company’s stock worth $14,060,000 after purchasing an additional 446,174 shares in the last quarter. Finally, BlackRock Inc. grew its stake in Pilgrim’s Pride by 14.2% during the 2nd quarter. BlackRock Inc. now owns 2,742,638 shares of the company’s stock worth $69,637,000 after purchasing an additional 341,062 shares in the last quarter. 20.52% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Pilgrim`s Pride (NASDAQ:PPC)

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