Pilgrim’s Pride Co. (NASDAQ:PPC) Short Interest Update

Pilgrim’s Pride Co. (NASDAQ:PPC) saw a large drop in short interest in June. As of June 30th, there was short interest totalling 3,141,100 shares, a drop of 28.7% from the May 30th total of 4,404,500 shares. Currently, 6.0% of the company’s stock are short sold. Based on an average daily volume of 1,130,000 shares, the short-interest ratio is presently 2.8 days.

PPC has been the topic of several research analyst reports. Barclays reissued a “buy” rating on shares of NXP Semiconductors in a research report on Sunday, May 5th. BidaskClub raised YY from a “strong sell” rating to a “sell” rating in a research report on Thursday, May 30th. Zacks Investment Research lowered Great Portland Estates from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. BMO Capital Markets set a $66.00 target price on CyrusOne and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, ValuEngine lowered Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 18th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $24.75.

A number of large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio grew its stake in shares of Pilgrim’s Pride by 4.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 15,407 shares of the company’s stock valued at $239,000 after purchasing an additional 693 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its stake in shares of Pilgrim’s Pride by 12.1% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 9,863 shares of the company’s stock valued at $220,000 after purchasing an additional 1,063 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Pilgrim’s Pride by 2.4% in the 4th quarter. Rhumbline Advisers now owns 47,815 shares of the company’s stock valued at $742,000 after purchasing an additional 1,108 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Pilgrim’s Pride by 3.0% in the 1st quarter. Bank of Montreal Can now owns 42,025 shares of the company’s stock valued at $937,000 after purchasing an additional 1,211 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Pilgrim’s Pride by 7.2% in the 4th quarter. Legal & General Group Plc now owns 30,356 shares of the company’s stock valued at $471,000 after purchasing an additional 2,047 shares during the last quarter. Hedge funds and other institutional investors own 18.87% of the company’s stock.

Shares of NASDAQ PPC traded up $0.18 during midday trading on Friday, hitting $26.56. 681,600 shares of the company’s stock were exchanged, compared to its average volume of 1,064,250. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.83 and a current ratio of 1.68. Pilgrim’s Pride has a twelve month low of $14.83 and a twelve month high of $29.32. The company has a market cap of $6.71 billion, a P/E ratio of 20.48 and a beta of 0.80. The firm has a fifty day simple moving average of $26.30.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.76 billion. Pilgrim’s Pride had a return on equity of 14.13% and a net margin of 1.95%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 EPS. On average, analysts anticipate that Pilgrim’s Pride will post 1.83 EPS for the current fiscal year.

About Pilgrim’s Pride

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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