Pilgrim’s Pride (NASDAQ:PPC) Rating Lowered to “Buy” at StockNews.com

Pilgrim’s Pride (NASDAQ:PPC) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

Several other brokerages have also recently issued reports on PPC. Santander started coverage on shares of Pilgrim’s Pride in a report on Wednesday, March 5th. They issued a “neutral” rating on the stock. BMO Capital Markets raised their target price on shares of Pilgrim’s Pride from $47.00 to $48.00 and gave the stock a “market perform” rating in a report on Monday, March 17th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Pilgrim’s Pride presently has a consensus rating of “Hold” and a consensus price target of $48.40.

Pilgrim’s Pride Stock Down 2.0%

PPC stock opened at $45.69 on Tuesday. The company has a current ratio of 2.01, a quick ratio of 1.31 and a debt-to-equity ratio of 0.75. The company’s 50 day moving average is $51.15 and its 200 day moving average is $50.14. The stock has a market cap of $10.83 billion, a price-to-earnings ratio of 10.02 and a beta of 0.51. Pilgrim’s Pride has a 1-year low of $33.70 and a 1-year high of $57.16.

Pilgrim’s Pride (NASDAQ:PPC) last issued its earnings results on Wednesday, April 30th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.05. The business had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.53 billion. Pilgrim’s Pride had a return on equity of 32.83% and a net margin of 6.08%. Pilgrim’s Pride’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 earnings per share. Sell-side analysts predict that Pilgrim’s Pride will post 5.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Pilgrim’s Pride

Large investors have recently made changes to their positions in the company. Franklin Resources Inc. grew its stake in shares of Pilgrim’s Pride by 325.8% during the 3rd quarter. Franklin Resources Inc. now owns 55,071 shares of the company’s stock valued at $2,485,000 after purchasing an additional 42,136 shares during the period. Ruffer LLP purchased a new position in Pilgrim’s Pride in the 4th quarter worth approximately $8,381,000. Illinois Municipal Retirement Fund lifted its holdings in Pilgrim’s Pride by 30.0% in the 4th quarter. Illinois Municipal Retirement Fund now owns 58,289 shares of the company’s stock worth $2,646,000 after purchasing an additional 13,459 shares in the last quarter. Sigma Planning Corp lifted its holdings in Pilgrim’s Pride by 73.9% in the 4th quarter. Sigma Planning Corp now owns 28,587 shares of the company’s stock worth $1,298,000 after purchasing an additional 12,149 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in Pilgrim’s Pride in the 4th quarter worth approximately $249,000. 16.64% of the stock is currently owned by institutional investors.

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.