Can Pilgrim’s Pride Corporation (PPC) stock recover despite sales dropping?

The price of Pilgrim’s Pride Corporation (NASDAQ:PPC) shares last traded on Wall Street rose 3.45% to $24.89.

Based on available information, 8 analysts follow Pilgrim’s Pride Corporation (NASDAQ:PPC). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $32.00 and a low of $23.00, we find $27.75. Given the previous closing price of $24.06, this indicates a potential upside of 15.34 percent. PPC stock price is now 1.89% away from the 50-day moving average and -8.49% away from the 200-day moving average. The market capitalization of the company currently stands at $5.88B.

Among analysts, 5 rate the stock a hold while 1 rate it a buy. Brokers who have rated the stock have averaged $27.58 as their price target over the next twelve months.

With the price target enhanced from $28 to $30, BMO Capital Markets Upgraded its rating from Market Perform to Outperform for Pilgrim’s Pride Corporation (NASDAQ: PPC). , while ‘Stephens’ rates the stock as ‘Overweight’.

In other news, Sandri Fabio, President and CEO sold 33,471 shares of the company’s stock on Aug 22. The stock was sold for $1,006,135 at an average price of $30.06. Upon completion of the transaction, the President and CEO now directly owns 260,345 shares in the company, valued at $6.48 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 06, President and CEO Sandri Fabio sold 77,741 shares of the business’s stock. A total of $2,675,869 was realized by selling the stock at an average price of $34.42. This leaves the insider owning 293,816 shares of the company worth $7.31 million. Insiders disposed of 282,212 shares of company stock worth roughly $7.02 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.

There have been several recent changes in the stakes of large investors in PPC stock. A new stake in Pilgrim’s Pride Corporation shares was purchased by BEACON HARBOR WEALTH ADVISORS, INC. during the first quarter worth $3,468,000. COMMERCE BANK invested $3,135,000 in shares of PPC during the first quarter. In the first quarter, LOS ANGELES CAPITAL MANAGEMENT LLC acquired a new stake in Pilgrim’s Pride Corporation valued at approximately $2,894,000. COHEN & STEERS, INC. acquired a new stake in PPC for approximately $2,049,000. EXODUSPOINT CAPITAL MANAGEMENT, LP purchased a new stake in PPC valued at around $1,385,000 in the second quarter. In total, there are 331 active investors with 17.70% ownership of the company’s stock.

A candlestick chart of Pilgrim’s Pride Corporation (NASDAQ: PPC) showed a price of $23.98 on Thursday morning. During the past 12 months, Pilgrim’s Pride Corporation has had a low of $20.23 and a high of $34.66. As of last week, the company has a debt-to-equity ratio of 1.18, a current ratio of 1.50, and a quick ratio of 0.80. The fifty day moving average price for PPC is $24.49 and a two-hundred day moving average price translates $27.21 for the stock.

The latest earnings results from Pilgrim’s Pride Corporation (NASDAQ: PPC) was released for Sep, 2022. According to the Packaged Foods Company, earnings per share came in at $1.09, beating analysts’ expectations of $0.78 by 0.31. This compares to $0.25 EPS in the same period last year. The net profit margin was 5.40% and return on equity was 34.30% for PPC. The company reported revenue of $4.47 billion for the quarter, compared to $3.83 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 16.76 percent. For the current quarter, analysts expect PPC to generate $4.12B in revenue.

Moreover, the firm recently paid out its quarterly dividend on 05/18/2016. Investors who held shares on 05/10/2016 were paid a $2.75 dividend.

Pilgrim’s Pride Corporation(PPC) Company Profile

Pilgrim’s Pride Corporation engages in the production, processing, marketing and distribution of fresh, frozen and value-added chicken, and pork products to retailers, distributors, and foodservice operators in the United States, the United Kingdom, Mexico, the Middle East, Asia, Continental Europe, and internationally. The company offers fresh products, including pre-marinated or non-marinated chicken, frozen whole chickens, breast fillets, mini breast fillets and prepackaged case-ready chicken, primary pork cuts, and pork and pork ribs; prepared products, which include portion-controlled breast fillets, tenderloins and strips, delicatessen products, salads, formed nuggets and patties, and bone-in chicken parts; processed sausages, bacon, slow cooked, smoked meat, gammon joints, as well as variety of meat products, pre-packed meats, sandwich and deli counter meats, pulled pork balls, meatballs, and coated foods. In addition, its exported products include whole chickens and chicken parts sold either refrigerated for distributors in the U.S. or frozen for distribution to export markets and primary pork cuts, hog heads and trotters frozen for distribution to export markets. The company offers its products under the Pilgrim’s, Just BARE, Gold’n Pump, Gold Kist, County Pride, Pierce Chicken, Pilgrim’s Mexico, County Post, Savoro, To-Ricos, Del Dia, Moy Park, O’Kane, Richmond, Fridge Raiders, and Denny brands. Pilgrim’s Pride Corporation sells its products to the foodservice market principally consists of chain restaurants, food processors, broad-line distributors, and other institutions; and retail market, which comprise primarily grocery store chains, wholesale clubs, and other retail distributors. The company was founded in 1946 and is headquartered in Greeley, Colorado. Pilgrim’s Pride Corporation operates as a subsidiary of JBS S.A.