Pilgrim’s Pride Co. (NASDAQ:PPC – Get Free Report) was the recipient of some unusual options trading on Friday. Stock investors acquired 3,289 put options on the company. This represents an increase of approximately 481% compared to the typical daily volume of 566 put options.
Pilgrim’s Pride Stock Down 3.4 %
Shares of Pilgrim’s Pride stock opened at $41.77 on Friday. The business has a 50-day moving average price of $42.85 and a 200 day moving average price of $38.18. Pilgrim’s Pride has a fifty-two week low of $22.33 and a fifty-two week high of $47.44. The firm has a market cap of $9.90 billion, a P/E ratio of 20.28, a P/E/G ratio of 0.21 and a beta of 0.82. The company has a quick ratio of 1.09, a current ratio of 1.82 and a debt-to-equity ratio of 0.85.
Pilgrim’s Pride (NASDAQ:PPC – Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.35. Pilgrim’s Pride had a return on equity of 25.06% and a net margin of 4.25%. The business had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.62 billion. During the same period in the previous year, the business earned $0.44 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts forecast that Pilgrim’s Pride will post 4.79 earnings per share for the current fiscal year.
Insider Activity at Pilgrim’s Pride
Institutional Trading of Pilgrim’s Pride
A number of institutional investors and hedge funds have recently modified their holdings of PPC. Point72 Asia Singapore Pte. Ltd. acquired a new position in Pilgrim’s Pride in the second quarter valued at approximately $32,000. Ariadne Wealth Management LP acquired a new position in Pilgrim’s Pride during the 2nd quarter valued at approximately $94,000. Truist Financial Corp bought a new position in Pilgrim’s Pride during the 2nd quarter worth $1,035,000. Creative Planning increased its position in Pilgrim’s Pride by 2.6% in the second quarter. Creative Planning now owns 35,855 shares of the company’s stock worth $1,380,000 after buying an additional 898 shares during the period. Finally, Algert Global LLC lifted its stake in Pilgrim’s Pride by 16.8% in the second quarter. Algert Global LLC now owns 74,672 shares of the company’s stock valued at $2,874,000 after buying an additional 10,722 shares during the last quarter. 16.64% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. Bank of America lowered shares of 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 lifted their target price on Pilgrim’s Pride from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Monday, September 9th. BMO Capital Markets reissued a “market perform” rating and issued a $46.00 price target on shares of Pilgrim’s Pride in a report on Monday, August 12th. Finally, Argus lifted their price objective on Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.80.
Read Our Latest Research Report on Pilgrim’s Pride
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.
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