Pilgrim’s Pride (NASDAQ:PPC) Sets New 52-Week High – What’s Next?

Pilgrim’s Pride Co. (NASDAQ:PPC) shares hit a new 52-week high during mid-day 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.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Barclays boosted their price target on shares of Pilgrim’s Pride from $45.00 to $49.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. StockNews.com lowered shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Friday. Finally, BMO Capital Markets raised their price target on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Pilgrim’s Pride currently has a consensus rating of “Hold” and an average target price of $45.50.

Pilgrim’s Pride Stock Up 3.5 %

The business’s 50 day moving average price is $47.45 and its 200-day moving average price is $46.87. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.27 and a current ratio of 1.95. The firm has a market capitalization of $12.78 billion, a PE ratio of 13.01, a P/E/G ratio of 0.20 and a beta of 0.82.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new position in shares of Pilgrim’s Pride in the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. acquired a new position in shares of Pilgrim’s Pride in the third quarter worth $34,000. Quarry LP increased its position 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 acquiring an additional 707 shares during the period. R Squared Ltd acquired a new stake in shares of Pilgrim’s Pride in the fourth quarter valued at $59,000. Finally, Castleview Partners LLC purchased a new position in Pilgrim’s Pride in the third quarter valued at $86,000. 16.64% of the stock is currently owned by institutional investors and hedge funds.

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.