Pilgrim’s Pride (NASDAQ:PPC) Issues Earnings Results

Pilgrim’s Pride (NASDAQ:PPC) issued its quarterly earnings results on Wednesday. The company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.36, Briefing.com reports. The company had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.69 billion. Pilgrim’s Pride had a net margin of 4.25% and a return on equity of 25.06%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.58 EPS.

Pilgrim’s Pride Trading Up 2.9 %

PPC stock traded up $1.40 during trading on Thursday, hitting $49.09. The company had a trading volume of 1,116,290 shares, compared to its average volume of 895,189. Pilgrim’s Pride has a one year low of $25.11 and a one year high of $50.13. The company has a current ratio of 1.82, a quick ratio of 1.09 and a debt-to-equity ratio of 0.85. The business has a 50-day moving average of $44.78 and a 200-day moving average of $40.50. The stock has a market cap of $11.63 billion, a PE ratio of 22.97, a PEG ratio of 0.23 and a beta of 0.82.

Insider Activity

In related news, CEO Fabio Sandri sold 65,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $44.50, for a total transaction of $2,892,500.00. Following the completion of the transaction, the chief executive officer now owns 279,565 shares in the company, valued at approximately $12,440,642.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Matthew R. Galvanoni sold 6,500 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $43.31, for a total value of $281,515.00. Following the completion of the transaction, the chief financial officer now owns 51,750 shares of the company’s stock, valued at approximately $2,241,292.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Fabio Sandri sold 65,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $44.50, for a total value of $2,892,500.00. Following the transaction, the chief executive officer now owns 279,565 shares of the company’s stock, valued at $12,440,642.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 82.63% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Stephens assumed coverage on shares of Pilgrim’s Pride in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price objective on the stock. BMO Capital Markets restated a “market perform” rating and issued a $46.00 price objective on shares of Pilgrim’s Pride in a research note on Monday, August 12th. Bank of America cut Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price target for the company. in a report on Thursday, August 15th. Barclays upped their price objective on Pilgrim’s Pride from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, September 9th. Finally, Argus boosted their price target on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $45.33.

Pilgrim’s Pride Company Profile

Pilgrim's Pride Corporation produces, processes, markets, and distributes fresh, frozen, and value-added chicken and pork products to retailers, distributors, and foodservice operators. The company offers fresh products, including refrigerated whole or cut-up chicken, selected chicken parts that are either marinated or non-marinated, primary pork cuts, added value pork, and pork ribs; and prepared products, which include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, processed sausages, bacon, smoked meat, gammon joints, pre-packed meats, sandwich and deli counter meats and meat balls.