Pilgrim’s Pride Co. (NASDAQ:PPC) Short Interest Update – MarketBeat

Written by Amanda

Pilgrim’s Pride Co. (NASDAQ:PPC) Short Interest Update  MarketBeat

Pilgrim’s Pride Co. (NASDAQ:PPCGet 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.


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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:PPCGet 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.

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Source: marketbeat.com

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Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai

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