BidaskClub cut shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) from a hold rating to a sell rating in a research note released on Thursday morning.

PPC has been the subject of several other research reports. Zacks Investment Research lowered shares of Pilgrim’s Pride Corporation from a buy rating to a hold rating in a report on Friday, May 19th. BMO Capital Markets restated a hold rating and set a $24.00 price target on shares of Pilgrim’s Pride Corporation in a report on Tuesday, May 16th. Jefferies Group LLC restated a hold rating and set a $25.00 price target on shares of Pilgrim’s Pride Corporation in a report on Friday, July 14th. Vertical Group upgraded shares of Pilgrim’s Pride Corporation from a hold rating to a buy rating in a report on Monday, April 24th. Finally, Vertical Research upgraded shares of Pilgrim’s Pride Corporation from a hold rating to a buy rating in a report on Friday, April 21st. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Pilgrim’s Pride Corporation currently has a consensus rating of Hold and a consensus target price of $22.75.

Pilgrim’s Pride Corporation (NASDAQ:PPC) traded up 0.04% during mid-day trading on Thursday, reaching $24.23. 361,348 shares of the company’s stock traded hands. The firm has a market cap of $6.03 billion, a PE ratio of 14.68 and a beta of 0.16. Pilgrim’s Pride Corporation has a 1-year low of $17.15 and a 1-year high of $26.22. The firm has a 50 day moving average of $22.74 and a 200 day moving average of $22.17.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last issued its quarterly earnings data on Wednesday, May 3rd. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by $0.02. The business had revenue of $2.02 billion during 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%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.46 EPS. Analysts forecast that Pilgrim’s Pride Corporation will post $2.29 EPS for the current year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PPC. Credit Agricole S A raised its position in Pilgrim’s Pride Corporation by 12.8% in the first quarter. Credit Agricole S A now owns 356,800 shares of the company’s stock valued at $8,030,000 after buying an additional 40,400 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Pilgrim’s Pride Corporation during the first quarter valued at about $12,159,000. Pictet Asset Management Ltd. purchased a new position in Pilgrim’s Pride Corporation during the first quarter valued at about $3,216,000. 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. Finally, OLD National Bancorp IN purchased a new position in Pilgrim’s Pride Corporation during the first quarter valued at about $484,000. Hedge funds and other institutional investors own 26.36% 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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