Fintel reports that on June 18, 2024, Argus Research initiated coverage of Pilgrim's Pride (NasdaqGS:PPC) with a Buy recommendation.
Analyst Price Forecast Suggests 11.96% Upside
As of June 12, 2024, the average one-year price target for Pilgrim's Pride is 39.78. The forecasts range from a low of 37.37 to a high of $44.10. The average price target represents an increase of 11.96% from its latest reported closing price of 35.53.
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The projected annual revenue for Pilgrim's Pride is 16,350MM, a decrease of 6.88%. The projected annual non-GAAP EPS is 2.96.
What is the Fund Sentiment?
There are 571 funds or institutions reporting positions in Pilgrim's Pride. This is an increase of 37 owner(s) or 6.93% in the last quarter. Average portfolio weight of all funds dedicated to PPC is 0.16%, an increase of 4.77%. Total shares owned by institutions decreased in the last three months by 0.73% to 44,687K shares. 
The put/call ratio of PPC is 0.61, indicating a bullish outlook.
What are Other Shareholders Doing?
Thrivent Financial For Lutherans holds 1,887K shares representing 0.80% ownership of the company. In its prior filing, the firm reported owning 1,895K shares , representing a decrease of 0.43%. The firm increased its portfolio allocation in PPC by 13.94% over the last quarter.
Goldman Sachs Group holds 1,269K shares representing 0.54% ownership of the company. In its prior filing, the firm reported owning 1,177K shares , representing an increase of 7.19%. The firm decreased its portfolio allocation in PPC by 67.14% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 1,257K shares representing 0.53% ownership of the company. In its prior filing, the firm reported owning 1,219K shares , representing an increase of 3.02%. The firm increased its portfolio allocation in PPC by 15.16% over the last quarter.
Van Eck Associates holds 1,255K shares representing 0.53% ownership of the company. In its prior filing, the firm reported owning 1,299K shares , representing a decrease of 3.56%. The firm decreased its portfolio allocation in PPC by 0.47% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,117K shares representing 0.47% ownership of the company. In its prior filing, the firm reported owning 1,115K shares , representing an increase of 0.15%. The firm increased its portfolio allocation in PPC by 13.30% over the last quarter.
Pilgrim`s Pride Background Information
(This description is provided by the company.)
Pilgrim's employs approximately 55,400 people and operates protein processing plants and prepared-foods facilities in 14 states, Puerto Rico, Mexico, the U.K, and continental Europe. The Company's primary distribution is through retailers and foodservice distributors.
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