The stock of Pilgrim’s Pride Corporation (NASDAQ:PPC) hit a new 52-week low and has $16.85 target or 8.00% below today’s $18.31 share price. The 9 months bearish chart indicates high risk for the $4.53B company. The 1-year low was reported on Nov, 21 by Barchart.com. If the $16.85 price target is reached, the company will be worth $362.40M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock last traded at $18.31 per share. It is up 24.84% since April 19, 2016 and is downtrending. It has underperformed by 28.70% the S&P500.
Pilgrim’s Pride Corporation (NASDAQ:PPC) Ratings Coverage
Out of 3 analysts covering Pilgrims Pride (NASDAQ:PPC), 0 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 0 are positive. Pilgrims Pride has been the topic of 6 analyst reports since October 30, 2015 according to StockzIntelligence Inc. Jefferies maintained the stock with “Hold” rating in Wednesday, October 12 report. The stock of Pilgrim’s Pride Corporation (NASDAQ:PPC) has “Outperform” rating given on Friday, October 30 by BMO Capital Markets. The company was initiated on Wednesday, December 16 by Jefferies. The rating was upgraded by BB&T Capital on Wednesday, November 4 to “Buy”. The stock of Pilgrim’s Pride Corporation (NASDAQ:PPC) earned “Market Perform” rating by BMO Capital Markets on Monday, June 6. The stock has “Hold” rating given by BB&T Capital on Wednesday, May 25.
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.”
Insitutional Activity: The institutional sentiment decreased to 0.81 in Q2 2016. Its down 0.34, from 1.15 in 2016Q1. The ratio dived, as 28 funds sold all Pilgrim’s Pride Corporation shares owned while 70 reduced positions. 41 funds bought stakes while 72 increased positions. They now own 66.15 million shares or 3.48% less from 68.53 million shares in 2016Q1.
Fort Limited Partnership holds 0.31% or 29,725 shares in its portfolio. Moreover, Wellington Mgmt Gp Llp has 0% invested in Pilgrim’s Pride Corporation (NASDAQ:PPC) for 196,013 shares. The California-based Franklin Incorporated has invested 0% in Pilgrim’s Pride Corporation (NASDAQ:PPC). Alpha Windward Lc last reported 2,018 shares in the company. Babson Limited Company last reported 0.07% of its portfolio in the stock. Parametric Associates Ltd Co last reported 312,915 shares in the company. Amer Century last reported 0.03% of its portfolio in the stock. Tower Rech Cap Ltd Limited Liability Company (Trc) has 0% invested in the company for 1,291 shares. Lpl Financial Lc last reported 0% of its portfolio in the stock. Kcg has invested 0.02% of its portfolio in Pilgrim’s Pride Corporation (NASDAQ:PPC). The Montana-based Da Davidson Communication has invested 0% in Pilgrim’s Pride Corporation (NASDAQ:PPC). The Massachusetts-based Numeric Invsts Limited Liability Company has invested 0.07% in Pilgrim’s Pride Corporation (NASDAQ:PPC). Gargoyle Investment Advisor Ltd Liability accumulated 0.57% or 60,256 shares. Blackrock Limited holds 0% or 313,904 shares in its portfolio. Alps Advsr last reported 16,658 shares in the company.
More important recent Pilgrim’s Pride Corporation (NASDAQ:PPC) news were published by: Globenewswire.com which released: “INVESTOR ALERT: Levi & Korsinsky, LLP Reminds Shareholders of Pilgrim’s Pride …” on November 18, 2016, also Prnewswire.com published article titled: “Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Pilgrim’s Pride …”, Prnewswire.com published: “SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered …” on October 28, 2016. More interesting news about Pilgrim’s Pride Corporation (NASDAQ:PPC) was released by: Prnewswire.com and their article: “SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on …” with publication date: October 28, 2016.
PPC Company Profile
Pilgrim’s Pride Corporation (Pilgrim’s), incorporated on September 11, 1986, is a retail food store. The Firm is a producer and seller of chicken products with activities in the United States, Mexico and Puerto Rico. 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. Pilgrim’s offers a range of products to its clients through various distribution channels. Pilgrim’s fresh chicken products include refrigerated (non-frozen) whole chickens, whole cut-up chickens and selected chicken parts that are either marinated or non-marinated. The Company’s prepared chicken products include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, some of, which are either breaded or non-breaded and either marinated or non-marinated.
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