Pilgrim’s Pride (NASDAQ:PPC) Trading Up 4.1% – Time to Buy?

Pilgrim’s Pride Co. (NASDAQ:PPC)’s share price traded up 4.1% during trading on Monday . The stock traded as high as $56.67 and last traded at $56.84. 512,453 shares changed hands during trading, a decline of 54% from the average session volume of 1,119,903 shares. The stock had previously closed at $54.62.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PPC shares. Santander initiated coverage on Pilgrim’s Pride in a report on Wednesday. They set a “neutral” rating for the company. StockNews.com cut Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 2nd. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $45.50.

Pilgrim’s Pride Stock Up 2.4 %

The firm has a market capitalization of $13.26 billion, a price-to-earnings ratio of 12.27 and a beta of 0.71. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01. The business’s 50 day moving average is $49.12 and its 200-day moving average is $47.94.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. New York State Teachers Retirement System raised its stake in shares of Pilgrim’s Pride by 12.9% in the third quarter. New York State Teachers Retirement System now owns 20,731 shares of the company’s stock valued at $955,000 after purchasing an additional 2,367 shares in the last quarter. US Bancorp DE increased its holdings in shares of Pilgrim’s Pride by 193.0% during the third quarter. US Bancorp DE now owns 2,795 shares of the company’s stock worth $129,000 after buying an additional 1,841 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Pilgrim’s Pride by 61.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 29,285 shares of the company’s stock worth $1,349,000 after acquiring an additional 11,167 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Pilgrim’s Pride by 145,879.0% during the third quarter. Assetmark Inc. now owns 827,701 shares of the company’s stock worth $38,116,000 after purchasing an additional 827,134 shares during the last quarter. Finally, Sigma Planning Corp acquired a new position in Pilgrim’s Pride during the 3rd quarter worth about $757,000. Institutional investors own 16.64% of the company’s stock.

About Pilgrim’s Pride

Pilgrim’s Pride Corp. engages in the production, processing, marketing, and distribution of fresh, frozen and value-added chicken and pork products to retailers, distributors, and foodservice operators. It operates through the following segments: U.S., U.K. and Europe, and Mexico. The company was founded by Lonnie A.