Pilgrim’s Pride (NASDAQ:PPC) Sets New 1-Year High at $29.10

Pilgrim’s Pride Co. (NASDAQ:PPC)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $29.10 and last traded at $28.91, with a volume of 892126 shares trading hands. The stock had previously closed at $28.85.

Separately, Barclays upped their price target on shares of Pilgrim’s Pride from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, June 3rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $26.20.

The company has a current ratio of 1.39, a quick ratio of 0.71 and a debt-to-equity ratio of 0.88. The firm’s 50-day moving average price is $25.72 and its 200 day moving average price is $24.36. The company has a market cap of $7.04 billion, a price-to-earnings ratio of -221.91, a P/E/G ratio of 0.42 and a beta of 1.18.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings data on Wednesday, July 28th. The company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.04. The company had revenue of $3.64 billion during the quarter. Pilgrim’s Pride had a positive return on equity of 18.53% and a negative net margin of 0.25%. Analysts forecast that Pilgrim’s Pride Co. will post 2.17 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PPC. Commonwealth Equity Services LLC lifted its stake in shares of Pilgrim’s Pride by 6.8% during the 1st quarter. Commonwealth Equity Services LLC now owns 12,215 shares of the company’s stock worth $290,000 after acquiring an additional 775 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Pilgrim’s Pride by 9.5% in the 2nd quarter. Handelsbanken Fonder AB now owns 10,400 shares of the company’s stock valued at $231,000 after buying an additional 900 shares during the period. Swiss National Bank raised its holdings in Pilgrim’s Pride by 0.9% in the 1st quarter. Swiss National Bank now owns 111,300 shares of the company’s stock worth $2,648,000 after purchasing an additional 1,000 shares during the period. Amundi Pioneer Asset Management Inc. raised its holdings in shares of Pilgrim’s Pride by 12.1% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 9,863 shares of the company’s stock valued at $220,000 after acquiring an additional 1,063 shares during the last quarter. Finally, Sei Investments Co. grew its position in Pilgrim’s Pride by 3.8% in the second quarter. Sei Investments Co. now owns 33,696 shares of the company’s stock worth $645,000 after acquiring an additional 1,238 shares during the period. 16.44% of the stock is currently owned by hedge funds and other institutional investors.

About Pilgrim’s Pride (NASDAQ:PPC)

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

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