Jefferies Group LLC Reiterates Hold Rating for Pilgrim’s Pride Corporation (NASDAQ:PPC)

Pilgrim’s Pride Corporation (NASDAQ:PPC)‘s stock had its “hold” rating reiterated by equities research analysts at Jefferies Group LLC in a research note issued on Friday. They currently have a $25.00 target price on the stock. Jefferies Group LLC’s price objective would suggest a potential upside of 10.77% from the stock’s current price.

Several other equities analysts have also commented on PPC. Zacks Investment Research lowered Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, March 21st. Vertical Research upgraded Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a research report on Friday, April 21st. They noted that the move was a valuation call. Vertical Group upgraded Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a research report on Monday, April 24th. BMO Capital Markets reiterated a “hold” rating and set a $24.00 price objective on shares of Pilgrim’s Pride Corporation in a research report on Tuesday, May 16th. Finally, BidaskClub lowered Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $22.75.

Shares of Pilgrim’s Pride Corporation (NASDAQ PPC) opened at 22.57 on Friday. The stock’s 50 day moving average price is $23.56 and its 200 day moving average price is $21.69. Pilgrim’s Pride Corporation has a 12-month low of $17.15 and a 12-month high of $26.22. The company has a market capitalization of $5.61 billion, a PE ratio of 13.68 and a beta of 0.16.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last announced its quarterly earnings data on Wednesday, May 3rd. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.40 by $0.02. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.04 billion. Pilgrim’s Pride Corporation had a net margin of 5.21% and a return on equity of 46.08%. Pilgrim’s Pride Corporation’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 earnings per share. On average, equities research analysts forecast that Pilgrim’s Pride Corporation will post $2.26 earnings per share for the current year.

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A number of institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new position in Pilgrim’s Pride Corporation during the fourth quarter valued at about $2,253,000. Dimensional Fund Advisors LP raised its position in Pilgrim’s Pride Corporation by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 721,529 shares of the company’s stock valued at $13,702,000 after buying an additional 5,381 shares during the last quarter. FMR LLC raised its position in Pilgrim’s Pride Corporation by 19.5% in the fourth quarter. FMR LLC now owns 541,939 shares of the company’s stock valued at $10,291,000 after buying an additional 88,490 shares during the last quarter. Numeric Investors LLC bought a new position in Pilgrim’s Pride Corporation during the fourth quarter valued at about $310,000. Finally, Norges Bank bought a new position in Pilgrim’s Pride Corporation during the fourth quarter valued at about $35,509,000. Institutional investors and hedge funds own 26.57% of the company’s stock.

About Pilgrim’s Pride Corporation

Pilgrim’s Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.

Analyst Recommendations for Pilgrim`s Pride Corporation (NASDAQ:PPC)

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