Pilgrim’s Pride (NASDAQ:PPC) Trading Up 4.1% – Here’s Why

Pilgrim’s Pride Co. (NASDAQ:PPC) shares traded up 4.1% during trading on Monday . The company traded as high as $48.21 and last traded at $48.43. 269,498 shares changed hands during trading, a decline of 70% from the average session volume of 885,483 shares. The stock had previously closed at $46.54.

Wall Street Analysts Forecast Growth

PPC has been the topic of a number of recent analyst reports. BMO Capital Markets increased their price objective on Pilgrim’s Pride from $42.00 to $43.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Barclays raised their price target on Pilgrim’s Pride from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Five 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 stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $45.50.

Pilgrim’s Pride Stock Performance

The company has a debt-to-equity ratio of 0.75, a current ratio of 1.95 and a quick ratio of 1.27. The stock has a market cap of $11.31 billion, a P/E ratio of 11.52, a price-to-earnings-growth ratio of 0.20 and a beta of 0.82. The company has a 50 day simple moving average of $47.46 and a 200-day simple moving average of $46.33.

Hedge Funds Weigh In On Pilgrim’s Pride

Several institutional investors and hedge funds have recently made changes to their positions in the business. Harbor Capital Advisors Inc. bought a new stake in Pilgrim’s Pride during the 3rd quarter valued at $27,000. ORG Wealth Partners LLC purchased a new position in shares of Pilgrim’s Pride in the third quarter valued at about $29,000. Raleigh Capital Management Inc. bought a new position in shares of Pilgrim’s Pride during the third quarter valued at about $34,000. Quarry LP boosted its holdings in shares of Pilgrim’s Pride by 295.8% during the third quarter. Quarry LP now owns 946 shares of the company’s stock worth $44,000 after purchasing an additional 707 shares during the period. Finally, R Squared Ltd bought a new stake in shares of Pilgrim’s Pride in the fourth quarter worth about $59,000. Institutional investors own 16.64% of the company’s stock.

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.