Wall Street Zen Downgrades Pilgrim’s Pride (NASDAQ:PPC) to Hold

Pilgrim’s Pride (NASDAQ:PPC) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Other research analysts also recently issued research reports about the stock. Barclays dropped their price target on shares of Pilgrim’s Pride from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 9th. Santander raised shares of Pilgrim’s Pride from a “neutral” rating to an “outperform” rating in a research note on Thursday, December 11th. Zacks Research upgraded shares of Pilgrim’s Pride from a “strong sell” rating to a “hold” rating in a report on Friday, November 7th. The Goldman Sachs Group cut their price target on shares of Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Pilgrim’s Pride in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $46.33.

Pilgrim’s Pride Trading Up 2.3%

NASDAQ PPC opened at $39.87 on Friday. The business’s 50-day moving average price is $38.50 and its two-hundred day moving average price is $42.06. Pilgrim’s Pride has a 12 month low of $35.73 and a 12 month high of $57.16. The firm has a market capitalization of $9.47 billion, a PE ratio of 7.73 and a beta of 0.43. The company has a current ratio of 1.51, a quick ratio of 0.78 and a debt-to-equity ratio of 0.87.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. Pilgrim’s Pride had a return on equity of 38.17% and a net margin of 6.70%.The company had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same period last year, the company earned $1.63 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. On average, analysts expect that Pilgrim’s Pride will post 5.13 EPS for the current year.

Hedge Funds Weigh In On Pilgrim’s Pride

Several institutional investors have recently made changes to their positions in the stock. True Wealth Design LLC grew its stake in shares of Pilgrim’s Pride by 1,248.5% in the 3rd quarter. True Wealth Design LLC now owns 917 shares of the company’s stock valued at $37,000 after buying an additional 849 shares during the period. Abich Financial Wealth Management LLC acquired a new stake in Pilgrim’s Pride in the third quarter valued at approximately $41,000. Clearstead Advisors LLC increased its holdings in shares of Pilgrim’s Pride by 1,522.6% during the third quarter. Clearstead Advisors LLC now owns 1,006 shares of the company’s stock valued at $41,000 after acquiring an additional 944 shares in the last quarter. Quarry LP acquired a new position in shares of Pilgrim’s Pride during the first quarter worth approximately $43,000. Finally, Ameritas Advisory Services LLC acquired a new stake in Pilgrim’s Pride in the 2nd quarter valued at $45,000. Institutional investors and hedge funds own 16.64% of the company’s stock.

About Pilgrim’s Pride

Pilgrim’s Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim’s Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.

The company’s vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.