Pilgrim’s Pride Co. (NASDAQ:PPC – Get Rating) saw a sharp decline in short-term interest in the month of June. As of June 15, there was short interest totaling 2,290,000 shares, a decrease of 20.8% from the total of 2,890,000 shares as of May 31. Based on an average daily trading volume of 1,060,000 shares, the short interest ratio is currently 2.2 days. Approximately 5.3% of the company’s shares are sold short.
A number of research analysts have recently commented on the stock. TheStreet upgraded Pilgrim’s Pride shares from a “c” rating to a “b-” rating in a Wednesday, April 27 research report. StockNews.com upgraded Pilgrim’s Pride shares from a “buy” rating to a “strong buy” rating in a Tuesday, May 3, research report. BMO Capital Markets downgraded Pilgrim’s Pride shares from a “market performance” rating to an “outperform” rating and raised its price target for the stock from $28.00 to $30.00 in a research report from Thursday, March 10. Finally, Barclays began covering Pilgrim’s Pride shares in a research report on Monday, March 14. They issued an “overweight” rating and a price target of $28.00 for the company. One analyst gave the stock a hold rating, three gave the stock a buy rating and one gave the stock a high buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $31.00.
PPC opened at $31.47 on Monday. Pilgrim’s Pride has a one-year minimum of $20.23 and a one-year maximum of $34.66. The company has a debt ratio of 1.21, a current ratio of 1.53 and a quick ratio of 0.84. The company’s 50-day simple moving average is $30.35 and its 200-day simple moving average is $27.72. The stock has a market capitalization of $7.56 billion, a P/E ratio of 36.17, a price-to-earnings growth ratio of 0.57 and a beta of 0.93.
Pilgrim’s Pride (NASDAQ:PPC – Get Rating) last reported quarterly earnings data on Wednesday, April 27. The company reported earnings per share (EPS) of $1.18 for the quarter, beating consensus analyst estimates of $0.65 by $0.53. Pilgrim’s Pride achieved a net margin of 1.34% and a return on equity of 28.00%. The company posted revenue of $4.24 billion for the quarter. In the same period a year earlier, the company posted earnings per share of $0.42. As a group, analysts expect Pilgrim’s Pride to post a current year EPS of 3.72.
In other Pilgrim’s Pride news, CEO Fabio Sandri sold 171,000 shares of Pilgrim’s Pride in a trade on Thursday, May 5. The shares were sold at an average price of $28.39, for a total transaction of $4,854,690.00. Following the completion of the sale, the CEO now owns 371,557 shares of the company, valued at approximately $10,548,503.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders of the company hold 80.36% of the shares of the company.
Institutional investors and hedge funds have recently bought and sold shares of the company. Prospera Financial Services Inc acquired a new stake in Pilgrim’s Pride in the first quarter worth $25,000. First Quadrant LLC CA acquired a new stake in Pilgrim’s Pride in the first quarter valued at $29,000. Quent Capital LLC acquired a new stake in Pilgrim’s Pride in the fourth quarter worth $51,000. Koshinski Asset Management Inc. acquired a new stake in Pilgrim’s Pride in the first quarter worth $50,000. Finally, PNC Financial Services Group Inc. increased its stake in Pilgrim’s Pride by 30.1% in the first quarter. PNC Financial Services Group Inc. now owns 2,054 shares of the company worth $52,000 after purchasing an additional 475 shares during the period. Institutional investors hold 17.97% of the company’s shares.
About Pilgrim’s Pride (Get a rating)
Pilgrim’s Pride Corporation is engaged 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, United Kingdom United Kingdom, Mexico, the Middle East and Asia. , Continental Europe and International.
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