StockNews.com Upgrades Pilgrim’s Pride (NASDAQ:PPC) to Strong-Buy

Pilgrim’s Pride (NASDAQ:PPC) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

Other equities research analysts also recently issued reports about the company. Barclays increased their price target on Pilgrim’s Pride from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. BMO Capital Markets increased their target price on Pilgrim’s Pride from $42.00 to $43.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $45.50.

Pilgrim’s Pride Price Performance

Shares of PPC stock opened at $53.13 on Friday. The company has a quick ratio of 1.31, a current ratio of 2.01 and a debt-to-equity ratio of 0.75. Pilgrim’s Pride has a 12-month low of $28.49 and a 12-month high of $57.16. The firm has a fifty day moving average of $47.80 and a 200-day moving average of $47.25. The firm has a market capitalization of $12.60 billion, a price-to-earnings ratio of 11.65 and a beta of 0.82.

Hedge Funds Weigh In On Pilgrim’s Pride

Institutional investors and hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. boosted its holdings in shares of Pilgrim’s Pride by 1,289.4% during the 3rd quarter. Pacer Advisors Inc. now owns 5,225,216 shares of the company’s stock worth $240,621,000 after buying an additional 4,849,147 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in Pilgrim’s Pride by 903.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,455,513 shares of the company’s stock worth $67,026,000 after acquiring an additional 1,310,530 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Pilgrim’s Pride by 102.0% during the fourth quarter. Point72 Asset Management L.P. now owns 16,381 shares of the company’s stock worth $744,000 after acquiring an additional 827,381 shares during the period. Assetmark Inc. grew its position in shares of Pilgrim’s Pride by 145,879.0% in the third quarter. Assetmark Inc. now owns 827,701 shares of the company’s stock valued at $38,116,000 after purchasing an additional 827,134 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Pilgrim’s Pride by 44.1% during the fourth quarter. AQR Capital Management LLC now owns 1,883,708 shares of the company’s stock worth $85,502,000 after purchasing an additional 576,438 shares during the period. 16.64% of the stock is currently owned by institutional investors and hedge funds.

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.