Analysts expect Pilgrim's Pride Co. (NASDAQ:PPC) to announce $2.59 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Pilgrim's Pride’s earnings. The lowest sales estimate is $2.58 billion and the highest is $2.59 billion. Pilgrim's Pride posted sales of $2.02 billion in the same quarter last year, which would indicate a positive year over year growth rate of 28.2%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, May 2nd.
On average, analysts expect that Pilgrim's Pride will report full-year sales of $2.59 billion for the current financial year, with estimates ranging from $10.65 billion to $10.92 billion. For the next fiscal year, analysts anticipate that the business will report sales of $10.97 billion per share, with estimates ranging from $10.78 billion to $11.18 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Pilgrim's Pride.
A number of research analysts have weighed in on PPC shares. ValuEngine lowered shares of Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 15th. BidaskClub lowered shares of Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 12th. Jefferies Group set a $32.00 price objective on shares of Pilgrim's Pride and gave the company a “hold” rating in a research report on Thursday, November 16th. Zacks Investment Research lowered shares of Pilgrim's Pride from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 4th. Finally, Morgan Stanley set a $25.00 price objective on shares of Pilgrim's Pride and gave the company a “hold” rating in a research report on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $29.00.
Pilgrim's Pride (NASDAQ:PPC) opened at $24.75 on Friday. The firm has a market cap of $6,290.00, a price-to-earnings ratio of 9.45 and a beta of 0.16. The company has a current ratio of 1.73, a quick ratio of 0.87 and a debt-to-equity ratio of 1.42. Pilgrim's Pride has a 52-week low of $20.28 and a 52-week high of $38.39.
In other news, CEO William W. Lovette sold 100,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $25.36, for a total transaction of $2,536,000.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 78.81% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of PPC. Arrowstreet Capital Limited Partnership increased its stake in Pilgrim's Pride by 165.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,940,271 shares of the company’s stock valued at $60,265,000 after acquiring an additional 1,209,046 shares during the period. TIAA CREF Investment Management LLC increased its stake in Pilgrim's Pride by 97.4% in the fourth quarter. TIAA CREF Investment Management LLC now owns 1,281,715 shares of the company’s stock valued at $39,810,000 after acquiring an additional 632,491 shares during the period. JPMorgan Chase & Co. increased its stake in Pilgrim's Pride by 14.6% in the third quarter. JPMorgan Chase & Co. now owns 4,152,325 shares of the company’s stock valued at $117,970,000 after acquiring an additional 528,588 shares during the period. Schroder Investment Management Group increased its stake in Pilgrim's Pride by 2,806.0% in the third quarter. Schroder Investment Management Group now owns 531,800 shares of the company’s stock valued at $15,109,000 after acquiring an additional 513,500 shares during the period. Finally, Prudential Financial Inc. increased 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 valued at $21,582,000 after acquiring an additional 457,000 shares during the period. 24.60% of the stock is currently owned by institutional investors and hedge funds.
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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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