Pilgrim’s Pride (NASDAQ:PPC) Stock Price Down 5.3% – Should You Sell?

Pilgrim’s Pride Co. (NASDAQ:PPC) was down 5.3% during trading on Wednesday . The stock traded as low as $50.53 and last traded at $50.51. Approximately 336,017 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 1,123,987 shares. The stock had previously closed at $53.33.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Santander assumed coverage on shares of Pilgrim’s Pride in a report on Wednesday, March 5th. They set a “neutral” rating for the company. StockNews.com downgraded Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 2nd. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $45.50.

Pilgrim’s Pride Trading Down 4.1 %

The business’s 50-day moving average is $49.48 and its two-hundred day moving average is $48.09. The firm has a market cap of $12.13 billion, a P/E ratio of 11.20 and a beta of 0.71. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.01 and a quick ratio of 1.31.

Institutional Trading of Pilgrim’s Pride

Institutional investors have recently made changes to their positions in the company. US Bancorp DE increased its stake in shares of Pilgrim’s Pride by 193.0% in the third quarter. US Bancorp DE now owns 2,795 shares of the company’s stock worth $129,000 after purchasing an additional 1,841 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Pilgrim’s Pride by 61.6% in the third quarter. Janney Montgomery Scott LLC now owns 29,285 shares of the company’s stock worth $1,349,000 after buying an additional 11,167 shares in the last quarter. Sigma Planning Corp bought a new position in shares of Pilgrim’s Pride during the 3rd quarter valued at $757,000. Entropy Technologies LP bought a new stake in shares of Pilgrim’s Pride in the 3rd quarter valued at about $588,000. Finally, CIBC Asset Management Inc lifted its position in Pilgrim’s Pride by 3.3% in the third quarter. CIBC Asset Management Inc now owns 6,836 shares of the company’s stock valued at $315,000 after purchasing an additional 216 shares during the last quarter. Institutional investors own 16.64% of the company’s stock.

About Pilgrim’s Pride

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.