Analysts predict that Pilgrim's Pride Co. (NASDAQ:PPC) will report $2.59 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Pilgrim's Pride’s earnings, with the lowest sales estimate coming in at $2.58 billion and the highest estimate coming in at $2.59 billion. Pilgrim's Pride reported sales of $2.02 billion in the same quarter last year, which would suggest a positive year over year growth rate of 28.2%. The company is scheduled to report its next quarterly earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that Pilgrim's Pride will report full year sales of $2.59 billion for the current fiscal year, with estimates ranging from $10.65 billion to $10.92 billion. For the next financial year, analysts forecast that the firm will post sales of $10.97 billion per share, with estimates ranging from $10.78 billion to $11.18 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Pilgrim's Pride.
PPC has been the topic of a number of analyst reports. Zacks Investment Research cut Pilgrim's Pride from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 4th. Morgan Stanley set a $25.00 target price on Pilgrim's Pride and gave the company a “hold” rating in a research note on Tuesday, February 27th. BidaskClub cut Pilgrim's Pride from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. ValuEngine cut Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 15th. Finally, Jefferies Group set a $32.00 target price on Pilgrim's Pride and gave the company a “hold” rating in a research note on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $29.00.
Pilgrim's Pride (PPC) traded up $1.25 on Friday, hitting $25.76. The stock had a trading volume of 1,104,978 shares, compared to its average volume of 1,315,107. The company has a market capitalization of $5,994.94, a PE ratio of 8.78 and a beta of 0.16. Pilgrim's Pride has a 1 year low of $20.28 and a 1 year high of $38.39. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.87 and a current ratio of 1.73.
In related news, CEO William W. Lovette sold 100,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $25.36, for a total value of $2,536,000.00. Following the transaction, the chief executive officer now owns 578,653 shares of the company’s stock, valued at $14,674,640.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 78.81% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Prudential Financial Inc. grew its stake in Pilgrim's Pride by 151.0% in the third quarter. Prudential Financial Inc. now owns 759,645 shares of the company’s stock worth $21,582,000 after purchasing an additional 457,000 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Pilgrim's Pride by 58.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 789,349 shares of the company’s stock valued at $22,427,000 after acquiring an additional 292,700 shares in the last quarter. Sterling Capital Management LLC boosted its position in Pilgrim's Pride by 3.5% during the 3rd quarter. Sterling Capital Management LLC now owns 130,535 shares of the company’s stock valued at $3,708,000 after acquiring an additional 4,400 shares in the last quarter. Alps Advisors Inc. bought a new stake in Pilgrim's Pride during the 3rd quarter valued at $461,000. Finally, OxFORD Asset Management LLP bought a new stake in Pilgrim's Pride during the 3rd quarter valued at $715,000. 25.10% of the stock is currently owned by institutional investors.
Pilgrim's Pride Company Profile
Pilgrim’s Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.
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