Pilgrim’s Pride (NASDAQ:PPC) Reaching An Inflection Point; Jefferies Coverage Initiated as Hold


How Jefferies Currently Rates Pilgrim’s Pride (NASDAQ:PPC)

The financial firm Jefferies has began coverage on Pilgrim’s Pride (NASDAQ:PPC)’s stock, rating it Hold. This was announced in a note on 16 December.

From a total of 3 analysts covering Pilgrims Pride (NASDAQ:PPC) stock, 3 rate it a ”Buy”, 0 a “Sell”, and 2 a ”Hold”. This means that 60% of the ratings are positive. The highest target price is $25 while the lowest target price is $23. The mean of all analyst targets is $24 with a 11.85% above today’s ($21.01) stock price. Pilgrims Pride was the topic of 2 analyst reports since October 30, 2015 according to the firm StockzIntelligence Inc. BB&T Capital upgraded shares on November 4 to “Buy” rating.

Approximately 746,366 shares of stock traded hands. Pilgrim’s Pride Corporation (NASDAQ:PPC) has declined 16.78% since May 13, 2015 and is downtrending. It has underperformed by 14.15% the S&P500.

The overall sentiment of institutions has decreased to 0.89 in Q2 2015. Its down 0.19, from 1.08 in 2015Q2. The ratio fall, as 39 institutions have sold all the shares of Pilgrim’s Pride Corporation that they owned while 91 funds have taken shares off the table. 34 funds have purchased shares for the first time while 82 added to their positions. These institutions now hold 85.57 million shares or 10.39% less than the 95.49 million shares they owned in 2015Q2.

The Fund Corecommodity Management Llc currently is holding shares equating to 4.54% of its total portfolio in Pilgrim’s Pride Corporation representing a total of 237,192 shares. Another fund,Denali Advisors Llc, is holding a total of 346,500 shares equating to 1.66% of their holdings. Additionally, Hays Advisory Llc has a 374,811 share stake in Pilgrim’s Pride Corporation which represents 1.18% of their total portfolio. The Fund, Gargoyle Investment Advisor L.L.C., based out of New Jersey, has also built up a stake in the stock, which represents a total of 1.17% of their total portfolio. Finally Smith Asset Management Group Lp, a fund which is based in the state of Texas reported a total holdings of 1.41 million shares.

Pilgrim’s Pride Corporation is a producer of Chicken products. The company has a market cap of $5.41 billion. The Firm is a producer and seller of chicken products with activities in the United States, Mexico and Puerto Rico. It has 7.28 P/E ratio. The Firm is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.

According to Zacks Investment Research, “Pilgrim’s Pride is one of the largest chicken companies in the US, Mexico and Puerto Rico. The company’s fresh chicken retail line is sold throughout the US, throughout Puerto Rico, and in the northern and central regions of Mexico. Its prepared chicken products meet the needs of some of the largest customers in the food service industry across the US. Additionally, the Company exports commodity chicken products to over 90 countries. As a vertically integrated company, it controls every phase of the production of its products. The company operates feed mills, hatcheries, processing plants and distribution centers in US, Puerto Rico and Mexico.”