Pilgrim’s Pride Co. (NASDAQ:PPC) was the target of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 2,260,000 shares, a decrease of 10.0% from the August 31st total of 2,510,000 shares. Approximately 4.8% of the company’s shares are short sold. Based on an average trading volume of 1,010,000 shares, the days-to-cover ratio is presently 2.2 days.
Shares of PPC traded up $0.38 on Friday, reaching $15.53. The company’s stock had a trading volume of 902,200 shares, compared to its average volume of 1,105,370. The company has a current ratio of 1.89, a quick ratio of 0.98 and a debt-to-equity ratio of 1.10. Pilgrim’s Pride has a twelve month low of $14.06 and a twelve month high of $33.67. The stock has a market capitalization of $3.79 billion, a PE ratio of 14.65, a PEG ratio of 3.61 and a beta of 0.93. The firm has a fifty day moving average of $15.95 and a 200-day moving average of $17.72.
Pilgrim’s Pride (NASDAQ:PPC) last posted its earnings results on Wednesday, July 29th. The company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.13). Pilgrim’s Pride had a return on equity of 7.89% and a net margin of 2.24%. The business had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the prior year, the company earned $0.69 EPS. The company’s revenue was down .7% on a year-over-year basis. As a group, equities analysts anticipate that Pilgrim’s Pride will post 0.68 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Private Advisor Group LLC purchased a new stake in Pilgrim’s Pride in the 2nd quarter valued at about $26,000. Captrust Financial Advisors purchased a new stake in Pilgrim’s Pride in the 2nd quarter valued at about $28,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Pilgrim’s Pride by 20.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,116 shares of the company’s stock valued at $103,000 after buying an additional 1,035 shares during the last quarter. Advisors Asset Management Inc. increased its stake in Pilgrim’s Pride by 32.8% in the 2nd quarter. Advisors Asset Management Inc. now owns 10,914 shares of the company’s stock valued at $184,000 after buying an additional 2,697 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Pilgrim’s Pride in the 2nd quarter valued at about $186,000. Institutional investors own 17.32% of the company’s stock.
PPC has been the topic of several research reports. Zacks Investment Research upgraded shares of Pilgrim’s Pride from a “sell” rating to a “hold” rating and set a $16.00 price objective on the stock in a report on Wednesday. ValuEngine lowered shares of Pilgrim’s Pride from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Barclays lowered shares of Pilgrim’s Pride from an “overweight” rating to an “equal weight” rating and set a $20.00 price objective on the stock. in a report on Monday, June 29th. BidaskClub lowered shares of Pilgrim’s Pride from a “sell” rating to a “strong sell” rating in a report on Thursday, September 24th. Finally, BMO Capital Markets lowered shares of Pilgrim’s Pride from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $36.00 to $21.00 in a report on Monday, June 29th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $23.71.
Pilgrim’s Pride Company Profile
Pilgrim's Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products in the United States, the United Kingdom, Europe, and Mexico. The company offers fresh chicken products, including pre-marinated or non-marinated refrigerated (nonfrozen) whole or cut-up chicken; and prepackaged case-ready chicken, such as whole chickens and chicken parts.
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