Brokerages forecast that Pilgrim's Pride Co. (NASDAQ:PPC) will announce earnings of $0.55 per share for the current quarter, according to Zacks. Two analysts have issued estimates for Pilgrim's Pride’s earnings, with estimates ranging from $0.51 to $0.59. Pilgrim's Pride posted earnings per share of $0.38 in the same quarter last year, which would suggest a positive year over year growth rate of 44.7%. The company is expected to announce its next quarterly earnings report on Wednesday, May 2nd.
On average, analysts expect that Pilgrim's Pride will report full year earnings of $3.07 per share for the current fiscal year, with EPS estimates ranging from $2.76 to $3.40. For the next year, analysts expect that the firm will report earnings of $3.10 per share, with EPS estimates ranging from $2.80 to $3.65. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Pilgrim's Pride.
Pilgrim's Pride (NASDAQ:PPC) last released its quarterly earnings results on Wednesday, February 14th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.05. Pilgrim's Pride had a net margin of 7.08% and a return on equity of 49.74%. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.56 billion.
PPC stock traded down $0.29 on Tuesday, hitting $24.61. The company had a trading volume of 2,295,443 shares, compared to its average volume of 1,258,765. Pilgrim's Pride has a 12-month low of $20.28 and a 12-month high of $38.39. The company has a current ratio of 1.73, a quick ratio of 0.87 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $6,121.81, a P/E ratio of 8.52 and a beta of 0.16.
In related news, CEO William W. Lovette sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $25.36, for a total value of $2,536,000.00. Following the sale, the chief executive officer now owns 578,653 shares in the company, valued at $14,674,640.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 78.81% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership increased its stake in shares of Pilgrim's Pride by 165.3% during the 4th 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 last quarter. TIAA CREF Investment Management LLC increased its position in Pilgrim's Pride by 97.4% in the 4th quarter. TIAA CREF Investment Management LLC now owns 1,281,715 shares of the company’s stock worth $39,810,000 after buying an additional 632,491 shares during the period. JPMorgan Chase & Co. increased its position in Pilgrim's Pride by 14.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,152,325 shares of the company’s stock worth $117,970,000 after buying an additional 528,588 shares during the period. Schroder Investment Management Group increased its position in Pilgrim's Pride by 2,806.0% in the 3rd quarter. Schroder Investment Management Group now owns 531,800 shares of the company’s stock worth $15,109,000 after buying an additional 513,500 shares during the period. Finally, Renaissance Technologies LLC increased its position in Pilgrim's Pride by 101.5% in the 4th quarter. Renaissance Technologies LLC now owns 840,613 shares of the company’s stock worth $26,109,000 after buying an additional 423,500 shares during the period. Institutional investors own 25.11% of the company’s stock.
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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