Pilgrim’s Pride Co. (NASDAQ:PPC – Get Rating) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 2,290,000 shares, a drop of 20.8% from the May 31st total of 2,890,000 shares. 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 stock are short sold.
A number of research analysts have recently commented on the stock. TheStreet raised shares of Pilgrim’s Pride from a “c” rating to a “b-” rating in a research report on Wednesday, April 27th. StockNews.com raised shares of Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 3rd. BMO Capital Markets raised shares of Pilgrim’s Pride from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $28.00 to $30.00 in a research report on Thursday, March 10th. Finally, Barclays began coverage on shares of Pilgrim’s Pride in a research report on Monday, March 14th. They issued an “overweight” rating and a $28.00 price target for the company. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $31.00.
What’s the highest-yielding stock you’ve ever owned? The dividends for these stocks have risen so fast over the years that they’re now yielding us an average of 26%!
When you start getting paid 26% on your money, your financial problems tend to pretty much evaporate.
PPC opened at $31.47 on Monday. Pilgrim’s Pride has a one year low of $20.23 and a one year high of $34.66. The company has a debt-to-equity 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 announced its quarterly earnings data on Wednesday, April 27th. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.53. Pilgrim’s Pride had a net margin of 1.34% and a return on equity of 28.00%. The firm had revenue of $4.24 billion for the quarter. During the same period in the previous year, the business posted $0.42 earnings per share. As a group, analysts anticipate that Pilgrim’s Pride will post 3.72 EPS for the current year.
In other Pilgrim’s Pride news, CEO Fabio Sandri sold 171,000 shares of Pilgrim’s Pride stock in a transaction on Thursday, May 5th. 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 chief executive officer now owns 371,557 shares of the company’s stock, 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. Company insiders own 80.36% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. 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 worth $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. raised its holdings in Pilgrim’s Pride by 30.1% in the first quarter. PNC Financial Services Group Inc. now owns 2,054 shares of the company’s stock worth $52,000 after purchasing an additional 475 shares during the period. Institutional investors own 17.97% of the company’s stock.
About Pilgrim’s Pride (Get Rating)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Should you invest $1,000 in Pilgrim’s Pride right now?
Before you consider Pilgrim’s Pride, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Pilgrim’s Pride wasn’t on the list.
While Pilgrim’s Pride currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Source: marketbeat.com
