An issue of Pilgrim's Pride Co. (NASDAQ:PPC) debt fell 0.8% as a percentage of its face value during trading on Monday. The high-yield debt issue has a 5.75% coupon and is set to mature on March 15, 2025. The debt is now trading at $103.00 and was trading at $104.38 last week. Price changes in a company’s debt in credit markets often anticipate parallel changes in its stock price.

Several research firms have issued reports on PPC. ValuEngine lowered Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a report on Friday, December 15th. BidaskClub lowered Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 12th. Morgan Stanley boosted their price target on Pilgrim's Pride from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, November 10th. KeyCorp began coverage on Pilgrim's Pride in a report on Tuesday, October 31st. They set a “hold” rating for the company. Finally, Jefferies Group reissued a “hold” rating and set a $27.00 price target (up previously from $25.00) on shares of Pilgrim's Pride in a report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $32.50.

Shares of Pilgrim's Pride Co. (PPC) traded up $0.18 during trading on Monday, hitting $29.69. The stock had a trading volume of 1,033,200 shares, compared to its average volume of 1,562,111. Pilgrim's Pride Co. has a fifty-two week low of $18.10 and a fifty-two week high of $38.39. The stock has a market capitalization of $7,390.00, a P/E ratio of 11.74 and a beta of 0.29. The company has a quick ratio of 0.81, a current ratio of 1.65 and a debt-to-equity ratio of 1.49.

Pilgrim's Pride (NASDAQ:PPC) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.21. Pilgrim's Pride had a return on equity of 53.62% and a net margin of 7.03%. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the business earned $0.40 earnings per share. The business’s revenue was up 12.0% on a year-over-year basis. analysts forecast that Pilgrim's Pride Co. will post 2.85 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the company. Seven Eight Capital LP purchased a new position in shares of Pilgrim's Pride in the second quarter valued at about $134,000. New York State Teachers Retirement System purchased a new position in shares of Pilgrim's Pride in the third quarter valued at about $134,000. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Pilgrim's Pride by 57.1% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,882 shares of the company’s stock valued at $167,000 after acquiring an additional 2,139 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Pilgrim's Pride by 9.5% in the second quarter. The Manufacturers Life Insurance Company now owns 9,203 shares of the company’s stock valued at $201,000 after acquiring an additional 798 shares in the last quarter. Finally, Amalgamated Bank purchased a new position in shares of Pilgrim's Pride in the second quarter valued at about $219,000. Institutional investors and hedge funds own 24.60% of the company’s stock.

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About Pilgrim's Pride

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.

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