Pilgrim’s Pride (NASDAQ:PPC) Posts Earnings Results, Misses Expectations By $0.10 EPS

Pilgrim’s Pride (NASDAQ:PPC) posted its quarterly earnings results on Wednesday. The company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.10), Zacks reports. Pilgrim’s Pride had a return on equity of 38.17% and a net margin of 6.70%.

Pilgrim’s Pride Stock Up 1.0%

Pilgrim’s Pride stock traded up $0.41 during mid-day trading on Wednesday, reaching $43.19. 780,129 shares of the company were exchanged, compared to its average volume of 884,817. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.78 and a current ratio of 1.51. The firm has a market cap of $10.26 billion, a P/E ratio of 8.37 and a beta of 0.43. The business has a fifty day moving average of $40.61 and a 200 day moving average of $41.31. Pilgrim’s Pride has a 12-month low of $35.73 and a 12-month high of $57.16.

Wall Street Analyst Weigh In

Several research firms have issued reports on PPC. Santander raised shares of Pilgrim’s Pride from a “neutral” rating to an “outperform” rating in a research report on Thursday, December 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pilgrim’s Pride in a research note on Monday, December 29th. Wall Street Zen raised Pilgrim’s Pride from a “hold” rating to a “buy” rating in a research note on Saturday. Barclays decreased their target price on Pilgrim’s Pride from $49.00 to $45.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 9th. Finally, Zacks Research upgraded Pilgrim’s Pride from a “strong sell” rating to a “hold” rating in a report on Friday, November 7th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $46.33.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. AQR Capital Management LLC grew its position in Pilgrim’s Pride by 18.7% during the 3rd quarter. AQR Capital Management LLC now owns 4,482,124 shares of the company’s stock worth $182,512,000 after purchasing an additional 705,946 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Pilgrim’s Pride by 18.8% during the third quarter. Dimensional Fund Advisors LP now owns 2,676,194 shares of the company’s stock worth $108,965,000 after buying an additional 423,690 shares during the period. Bank of America Corp DE grew its holdings in shares of Pilgrim’s Pride by 22.9% during the second quarter. Bank of America Corp DE now owns 2,171,836 shares of the company’s stock valued at $97,689,000 after buying an additional 404,915 shares during the last quarter. State Street Corp grew its holdings in shares of Pilgrim’s Pride by 21.5% during the second quarter. State Street Corp now owns 1,584,740 shares of the company’s stock valued at $71,282,000 after buying an additional 280,745 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Pilgrim’s Pride by 15.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,243,039 shares of the company’s stock valued at $67,758,000 after acquiring an additional 166,967 shares during the period. 16.64% of the stock is owned by institutional investors.

About Pilgrim’s Pride

Pilgrim’s Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim’s Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.

The company’s vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.