Pilgrim’s Pride (NASDAQ:PPC) Price Target Raised to $43.00 at BMO Capital Markets

Pilgrim’s Pride (NASDAQ:PPC) had its target price increased by BMO Capital Markets from $42.00 to $43.00 in a report issued on Friday, Benzinga reports. The firm currently has a market perform rating on the stock.

Other equities analysts have also recently issued reports about the stock. Bank of America cut shares of Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a research note on Thursday, August 15th. Stephens initiated coverage on shares of Pilgrim’s Pride in a report on Thursday, October 3rd. They set an “equal weight” rating and a $43.00 price target for the company. Barclays lifted their price objective on Pilgrim’s Pride from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, September 9th. Finally, Argus increased their target price on Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Pilgrim’s Pride presently has a consensus rating of “Hold” and a consensus price target of $45.50.

Pilgrim’s Pride Stock Performance

NASDAQ PPC traded up $1.73 during trading on Friday, reaching $50.17. The company’s stock had a trading volume of 1,827,521 shares, compared to its average volume of 902,916. Pilgrim’s Pride has a twelve month low of $25.23 and a twelve month high of $51.21. The firm has a market cap of $11.90 billion, a price-to-earnings ratio of 12.12, a P/E/G ratio of 0.24 and a beta of 0.82. The business’s fifty day moving average price is $44.98 and its 200-day moving average price is $40.66. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.09 and a current ratio of 1.82.

Pilgrim’s Pride (NASDAQ:PPC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.36. The company had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.69 billion. Pilgrim’s Pride had a return on equity of 31.38% and a net margin of 5.46%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $0.58 EPS. As a group, analysts anticipate that Pilgrim’s Pride will post 4.79 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Matthew R. Galvanoni sold 6,500 shares of Pilgrim’s Pride stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $43.31, for a total transaction of $281,515.00. Following the completion of the transaction, the chief financial officer now owns 51,750 shares of the company’s stock, valued at $2,241,292.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO Matthew R. Galvanoni sold 6,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $43.31, for a total transaction of $281,515.00. Following the completion of the transaction, the chief financial officer now directly owns 51,750 shares of the company’s stock, valued at $2,241,292.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Fabio Sandri sold 65,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $44.50, for a total value of $2,892,500.00. Following the completion of the sale, the chief executive officer now directly owns 279,565 shares in the company, valued at approximately $12,440,642.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 82.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new position in shares of Pilgrim’s Pride during the 3rd quarter worth $27,000. ORG Wealth Partners LLC purchased a new position in Pilgrim’s Pride during the third quarter worth about $29,000. ORG Partners LLC acquired a new stake in Pilgrim’s Pride in the 2nd quarter worth about $32,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Pilgrim’s Pride in the 2nd quarter valued at about $32,000. Finally, Raleigh Capital Management Inc. acquired a new position in shares of Pilgrim’s Pride during the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Company Profile

Pilgrim's Pride Corporation produces, processes, markets, and distributes fresh, frozen, and value-added chicken and pork products to retailers, distributors, and foodservice operators. The company offers fresh products, including refrigerated whole or cut-up chicken, selected chicken parts that are either marinated or non-marinated, primary pork cuts, added value pork, and pork ribs; and prepared products, which include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, processed sausages, bacon, smoked meat, gammon joints, pre-packed meats, sandwich and deli counter meats and meat balls.