Pilgrim’s Pride Co. (NASDAQ: PPC) Update on Short-Term Interest

Pilgrim’s Pride Co. (NASDAQ: PPC) enjoyed significant growth in short-term interest in June. As of June 30, there was short interest totaling 1,790,000 shares, an increase of 20.9% from the total of 1,480,000 shares as of June 15. Based on an average daily volume of 499,300 shares, the short-term interest rate is currently 3.6 days. About 3.8% of the company’s shares are sold short.

Several brokerages have recently published reports on PPC. BMO Capital Markets increased its target price on Pilgrim’s Pride shares from $ 21.00 to $ 28.00 and assigned the company a “market performance” rating in a report released on Friday, April 30. Barclays raised its price target on Pilgrim’s Pride shares from $ 25 to $ 28.00 and assigned the company an “overweight” rating in a research note on Thursday, June 3. Finally, Zacks Investment Research reduced Pilgrim’s Pride shares from a “buy” rating to a “hold” rating and set a target price of $ 25.00 for the stock. in a research note on Tuesday April 6. Two analysts rated the stock with a conservation rating and three gave the stock a buy rating. The company currently has an average “Buy” rating and a consensus price target of $ 26.20.

NASDAQ PPC shares opened at $ 20.50 on Tuesday. The company has a market cap of $ 5.00 billion, a PE ratio of 15.87, a price / earnings-growth ratio of 0.37, and a beta of 1.12. The company has a 50-day moving average price of $ 23.00. Pilgrim’s Pride has a 52 week low of $ 14.06 and a 52 week high of $ 26.27. The company has a current ratio of 1.68, a quick ratio of 0.84 and a debt ratio of 0.86.

Pilgrim’s Pride (NASDAQ: PPC) last released its quarterly results on Wednesday April 28. The company reported earnings per share (EPS) of $ 0.42 for the quarter, beating analyst consensus estimates of $ 0.35 by $ 0.07. Pilgrim’s Pride recorded a return on equity of 12.83% and a net margin of 1.04%. The company posted revenue of $ 3.27 billion for the quarter, compared to $ 3.25 billion expected by analysts. During the same period of the previous year, the company posted earnings per share of $ 0.12. Pilgrim’s Pride quarterly revenue increased 6.5% year-on-year. Analysts predict Pilgrim’s Pride will post 2.04 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently increased or reduced their holdings in PPC. The Louisiana state employee pension system increased its position in Pilgrim’s Pride shares by 4.1% in the first quarter. The Louisiana state employee pension system now owns 12,700 shares of the company valued at $ 302,000 after purchasing an additional 500 shares in the last quarter. Commonwealth Equity Services LLC increased its position in Pilgrim’s Pride by 6.8% during the 1st quarter. Commonwealth Equity Services LLC now owns 12,215 shares of the company valued at $ 290,000 after acquiring 775 additional shares during the last quarter. The Swiss National Bank increased its position in Pilgrim’s Pride by 0.9% in the first quarter. The Swiss National Bank now owns 111,300 shares of the company valued at $ 2,648,000 after acquiring an additional 1,000 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its position in Pilgrim’s Pride shares by 12.1% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 9,863 shares of the company valued at $ 220,000 after purchasing an additional 1,063 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Pilgrim’s Pride by 30.4% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 5,086 shares of the company valued at $ 100,000 after purchasing an additional 1,187 shares during the period. 15.93% of the shares are currently held by institutional investors.

About Pilgrim’s Pride

Pilgrim’s Pride Corp. is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and food service operators. It operates through the following segments: United States, United Kingdom and Europe and Mexico. The company was founded by Lonnie A.

Recommended Story: What’s The Asset To Cash Ratio?

This instant news alert was powered by storytelling technology and MarketBeat financial data to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured article: What is an initial public offering (IPO)?

7 cyclical stocks that can help you play defense

A cyclical stock is a stock that produces returns influenced by macroeconomic or systematic changes in the economy at large. In strong economic times, these stocks tend to show strong growth as they are influenced by discretionary consumer spending. Of course, this means that the opposite is also true. When the economy is weak, these stocks may retreat more than other stocks.

Cyclical stocks span many sectors, but travel and entertainment stocks spring to mind. Airlines, hotels and restaurants are all examples of cyclical industries that do well in times of economic growth, but are among the first to fall back in times of recession.

Why do cyclical stocks deserve a place in an investor’s portfolio? Believe it or not, that’s for the relative predictability they offer. Investors may like to speculate in growth stocks, but these are prone to bubbles. That’s not to say that cyclical stocks aren’t volatile, but they do offer a bit more predictable price movement.

In this special presentation, we take a look at cyclical stocks that look strong emerging from the pandemic. And some of those stocks have held up well during the pandemic, which means they’re starting from a more solid base.

Check out the “7 Cyclical Actions That Can Help You Play Defense.”

Source link

About Scott Bridges

Check Also

6 Proven Ways To Use Paid Search

SaaS marketing often falls into niche categories where relevant keywords can be limited, and differentiating …

Leave a Reply

Your email address will not be published. Required fields are marked *