Pilgrim’s Pride (NASDAQ:PPC) Reaches New 1-Year Low – Should You Sell?

Pilgrim’s Pride Corporation (NASDAQ:PPC) shares hit a new 52-week low during trading on Monday . The company traded as low as $26.85 and last traded at $26.5560, with a volume of 58492 shares trading hands. The stock had previously closed at $27.32.

Wall Street Analyst Weigh In

PPC has been the topic of several research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Pilgrim’s Pride in a research note on Friday, June 12th. Stephens set a $40.00 target price on shares of Pilgrim’s Pride in a research note on Wednesday, April 15th. Barclays upgraded shares of Pilgrim’s Pride from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $45.00 to $42.00 in a report on Friday, May 1st. BMO Capital Markets dropped their price target on shares of Pilgrim’s Pride from $42.00 to $40.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 25th. Finally, The Goldman Sachs Group cut their price objective on Pilgrim’s Pride from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $38.20.

Pilgrim’s Pride Stock Down 1.4%

The company has a market cap of $6.41 billion, a price-to-earnings ratio of 7.22 and a beta of 0.28. The business has a 50-day simple moving average of $30.41 and a two-hundred day simple moving average of $36.57. The company has a quick ratio of 0.73, a current ratio of 1.48 and a debt-to-equity ratio of 0.83.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.18). Pilgrim’s Pride had a net margin of 4.78% and a return on equity of 28.57%. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same period in the prior year, the company posted $1.31 EPS. The business’s revenue was up 1.6% on a year-over-year basis. As a group, equities analysts forecast that Pilgrim’s Pride Corporation will post 3.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pilgrim’s Pride

A number of institutional investors have recently modified their holdings of the company. Torren Management LLC bought a new stake in shares of Pilgrim’s Pride during the 4th quarter worth $31,000. MCF Advisors LLC bought a new position in Pilgrim’s Pride in the 4th quarter worth $35,000. Kingdom Financial Group LLC. bought a new position in Pilgrim’s Pride in the 4th quarter worth $37,000. Bessemer Group Inc. lifted its position in Pilgrim’s Pride by 205.4% during the 1st quarter. Bessemer Group Inc. now owns 1,014 shares of the company’s stock worth $39,000 after acquiring an additional 682 shares during the last quarter. Finally, Clearstead Advisors LLC lifted its position in Pilgrim’s Pride by 1,522.6% during the 3rd quarter. Clearstead Advisors LLC now owns 1,006 shares of the company’s stock worth $41,000 after acquiring an additional 944 shares during the last quarter. Institutional investors 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.