Pilgrim’s Pride (NASDAQ:PPC) Trading 4.1% Higher – Time to Buy?

Pilgrim’s Pride Co. (NASDAQ:PPC)’s share price rose 4.1% during mid-day trading on Monday . The stock traded as high as $48.21 and last traded at $48.43. Approximately 269,498 shares traded hands during trading, a decline of 70% from the average daily volume of 885,483 shares. The stock had previously closed at $46.54.

Analysts Set New Price Targets

Several brokerages have weighed in on PPC. Barclays raised their price objective on Pilgrim’s Pride from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. BMO Capital Markets raised their price target on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.50.

Pilgrim’s Pride Stock Up 2.5 %

The stock’s fifty day moving average is $47.58 and its two-hundred day moving average is $46.22. The company has a current ratio of 1.95, a quick ratio of 1.27 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $11.31 billion, a PE ratio of 11.53, a P/E/G ratio of 0.20 and a beta of 0.82.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PPC. Harbor Capital Advisors Inc. purchased a new position in shares of Pilgrim’s Pride in the third quarter worth about $27,000. ORG Wealth Partners LLC bought a new position in Pilgrim’s Pride in the 3rd quarter worth approximately $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Pilgrim’s Pride in the 2nd quarter valued at approximately $32,000. Raleigh Capital Management Inc. bought a new stake in Pilgrim’s Pride during the 3rd quarter valued at $34,000. Finally, Quarry LP raised its holdings in Pilgrim’s Pride by 295.8% during the 3rd quarter. Quarry LP now owns 946 shares of the company’s stock valued at $44,000 after acquiring an additional 707 shares during the period. 16.64% of the stock is owned by institutional investors.

Pilgrim’s Pride Company Profile

Pilgrim’s Pride Corp. engages in the production, processing, marketing, and distribution of fresh, frozen and value-added chicken and pork products to retailers, distributors, and foodservice operators. It operates through the following segments: U.S., U.K. and Europe, and Mexico. The company was founded by Lonnie A.