Pilgrim’s Pride (NASDAQ:PPC) Releases Quarterly Earnings Results, Beats Expectations By $0.36 EPS

Pilgrim’s Pride (NASDAQ:PPC) posted its earnings results on Wednesday. The company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.27 by $0.36, Briefing.com reports. The firm had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.69 billion. Pilgrim’s Pride had a net margin of 4.25% and a return on equity of 25.06%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 earnings per share.

Pilgrim’s Pride Price Performance

Shares of PPC traded up $1.41 on Thursday, hitting $49.10. The company’s stock had a trading volume of 1,143,006 shares, compared to its average volume of 895,315. The company has a market capitalization of $11.63 billion, a PE ratio of 22.97, a PEG ratio of 0.23 and a beta of 0.82. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.82 and a quick ratio of 1.09. Pilgrim’s Pride has a fifty-two week low of $25.11 and a fifty-two week high of $50.13. The company has a 50 day moving average price of $44.78 and a 200 day moving average price of $40.50.

Wall Street Analyst Weigh In

PPC has been the topic of a number of recent analyst reports. Barclays lifted their price objective on Pilgrim’s Pride from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Monday, September 9th. Bank of America lowered Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a research note on Thursday, August 15th. Argus lifted their price objective on Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. BMO Capital Markets restated a “market perform” rating and set a $46.00 price target on shares of Pilgrim’s Pride in a research note on Monday, August 12th. Finally, Stephens initiated coverage on Pilgrim’s Pride in a research note on Thursday, October 3rd. They set an “equal weight” rating and a $43.00 price target on the stock. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $45.33.

Insider Transactions at Pilgrim’s Pride

In other news, CFO Matthew R. Galvanoni sold 6,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $43.31, for a total value of $281,515.00. Following the transaction, the chief financial officer now directly owns 51,750 shares of the company’s stock, valued at $2,241,292.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Pilgrim’s Pride news, CEO Fabio Sandri sold 65,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $44.50, for a total transaction of $2,892,500.00. Following the transaction, the chief executive officer now owns 279,565 shares of the company’s stock, valued at approximately $12,440,642.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew R. Galvanoni sold 6,500 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $43.31, for a total value of $281,515.00. Following the transaction, the chief financial officer now directly owns 51,750 shares in the company, valued at approximately $2,241,292.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 82.63% of the stock is owned by company insiders.

About Pilgrim’s Pride

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.