Argus Boosts Pilgrim’s Pride (NASDAQ:PPC) Price Target to $55.00

Pilgrim’s Pride (NASDAQ:PPC) had its target price lifted by Argus from $50.00 to $55.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. StockNews.com raised Pilgrim’s Pride from a buy rating to a strong-buy rating in a research report on Friday, May 3rd. Bank of America cut Pilgrim’s Pride from a buy rating to a neutral rating and set a $47.00 price objective on the stock. in a research report on Thursday, August 15th. BMO Capital Markets reissued a market perform rating and set a $46.00 price target on shares of Pilgrim’s Pride in a report on Monday, August 12th. Finally, Barclays increased their price target on Pilgrim’s Pride from $40.00 to $43.00 and gave the company an equal weight rating in a report on Friday, August 2nd. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Pilgrim’s Pride presently has a consensus rating of Moderate Buy and an average target price of $45.40.

Pilgrim’s Pride Stock Performance

Shares of PPC opened at $46.58 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.82 and a debt-to-equity ratio of 0.85. The business’s 50 day moving average price is $41.37 and its 200-day moving average price is $36.85. Pilgrim’s Pride has a 52 week low of $22.33 and a 52 week high of $47.44. The stock has a market cap of $11.04 billion, a P/E ratio of 22.61, a P/E/G ratio of 0.27 and a beta of 0.78.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.35. The business had revenue of $4.56 billion for the quarter, compared to analysts’ expectations of $4.62 billion. Pilgrim’s Pride had a return on equity of 25.06% and a net margin of 4.25%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 EPS. Equities research analysts anticipate that Pilgrim’s Pride will post 4.25 earnings per share for the current fiscal year.

Insider Transactions at Pilgrim’s Pride

In other news, CEO Fabio Sandri sold 65,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $44.50, for a total value of $2,892,500.00. Following the completion of the sale, the chief executive officer now directly owns 279,565 shares in the company, valued at approximately $12,440,642.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Fabio Sandri sold 65,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $44.50, for a total value of $2,892,500.00. Following the completion of the sale, the chief executive officer now directly owns 279,565 shares in the company, valued at approximately $12,440,642.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Matthew R. Galvanoni sold 6,500 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $43.31, for a total value of $281,515.00. Following the completion of the sale, the chief financial officer now owns 51,750 shares of the company’s stock, valued at $2,241,292.50. The disclosure for this sale can be found here. 82.63% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pilgrim’s Pride

Institutional investors have recently bought and sold shares of the business. ORG Partners LLC purchased a new stake in Pilgrim’s Pride in the 2nd quarter worth $32,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Pilgrim’s Pride during the second quarter valued at about $32,000. Jones Financial Companies Lllp purchased a new position in shares of Pilgrim’s Pride during the fourth quarter valued at about $28,000. GAMMA Investing LLC purchased a new position in shares of Pilgrim’s Pride during the fourth quarter valued at about $30,000. Finally, Headlands Technologies LLC purchased a new position in shares of Pilgrim’s Pride during the first quarter valued at about $38,000. Hedge funds and other institutional investors own 16.64% of the company’s stock.

About Pilgrim’s Pride

Pilgrim's Pride Corporation produces, processes, markets, and distributes fresh, frozen, and value-added chicken and pork products to retailers, distributors, and foodservice operators. The company offers fresh products, including refrigerated whole or cut-up chicken, selected chicken parts that are either marinated or non-marinated, primary pork cuts, added value pork, and pork ribs; and prepared products, which include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, processed sausages, bacon, smoked meat, gammon joints, pre-packed meats, sandwich and deli counter meats and meat balls.