Pilgrim’s Pride (NASDAQ:PPC) Hits New 1-Year High – Should You Buy?

Pilgrim’s Pride Co. (NASDAQ:PPC)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $56.31 and last traded at $55.02, with a volume of 352669 shares. The stock had previously closed at $52.05.

Analysts Set New Price Targets

PPC has been the subject of a number of recent analyst reports. BMO Capital Markets upped their price objective on Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Barclays upped their price target 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. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $45.50.

Pilgrim’s Pride Trading Up 6.2 %

The business has a 50 day simple moving average of $47.38 and a 200-day simple moving average of $46.74. The stock has a market capitalization of $13.11 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 0.20 and a beta of 0.82. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.95 and a quick ratio of 1.27.

Hedge Funds Weigh In On Pilgrim’s Pride

Several institutional investors and hedge funds have recently modified their holdings of PPC. Vestcor Inc lifted its stake in Pilgrim’s Pride by 1.1% in the third quarter. Vestcor Inc now owns 19,783 shares of the company’s stock valued at $911,000 after buying an additional 212 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Pilgrim’s Pride by 3.3% during the third quarter. CIBC Asset Management Inc now owns 6,836 shares of the company’s stock worth $315,000 after acquiring an additional 216 shares during the period. Xponance Inc. lifted its position in Pilgrim’s Pride by 3.7% in the 4th quarter. Xponance Inc. now owns 6,307 shares of the company’s stock valued at $286,000 after acquiring an additional 225 shares in the last quarter. CWM LLC boosted its stake in Pilgrim’s Pride by 19.1% in the 3rd quarter. CWM LLC now owns 2,086 shares of the company’s stock worth $96,000 after purchasing an additional 334 shares during the period. Finally, Loomis Sayles & Co. L P increased its holdings in Pilgrim’s Pride by 3.2% during the 3rd quarter. Loomis Sayles & Co. L P now owns 13,079 shares of the company’s stock worth $602,000 after purchasing an additional 401 shares in the last quarter. 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.