Pilgrim’s Pride Co. (NASDAQ:PPC) was the recipient of a significant growth in short interest in July. As of July 31st, there was short interest totalling 3,265,000 shares, a growth of 17.8% from the June 30th total of 2,772,000 shares. Based on an average daily trading volume, of 1,080,000 shares, the short-interest ratio is currently 3.0 days. Currently, 6.2% of the shares of the stock are short sold.
NASDAQ:PPC traded down $1.13 during mid-day trading on Wednesday, hitting $28.38. 879,500 shares of the company’s stock were exchanged, compared to its average volume of 1,045,936. The stock’s 50 day moving average is $27.17. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.78 and a quick ratio of 0.93. Pilgrim’s Pride has a fifty-two week low of $14.83 and a fifty-two week high of $30.35. The company has a market cap of $7.21 billion, a price-to-earnings ratio of 22.17 and a beta of 0.81.
Pilgrim’s Pride (NASDAQ:PPC) last posted its earnings results on Wednesday, July 31st. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.60 by $0.09. Pilgrim’s Pride had a net margin of 2.53% and a return on equity of 15.58%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same period last year, the company earned $0.53 EPS. The firm’s revenue was up .2% compared to the same quarter last year. On average, analysts forecast that Pilgrim’s Pride will post 1.83 earnings per share for the current year.
In other news, CFO Fabio Sandri sold 74,710 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $28.27, for a total value of $2,112,051.70. Following the sale, the chief financial officer now directly owns 326,363 shares in the company, valued at approximately $9,226,282.01. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jayson Penn sold 51,222 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $28.29, for a total transaction of $1,449,070.38. Following the completion of the sale, the chief executive officer now owns 204,408 shares in the company, valued at $5,782,702.32. The disclosure for this sale can be found here. Corporate insiders own 78.73% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Destination Wealth Management bought a new position in Pilgrim’s Pride during the 2nd quarter worth approximately $53,000. Point72 Hong Kong Ltd bought a new position in Pilgrim’s Pride during the 2nd quarter worth approximately $82,000. New York State Teachers Retirement System bought a new position in Pilgrim’s Pride during the 2nd quarter worth approximately $119,000. Meeder Asset Management Inc. bought a new position in Pilgrim’s Pride during the 2nd quarter worth approximately $138,000. Finally, NEXT Financial Group Inc bought a new position in Pilgrim’s Pride during the 2nd quarter worth approximately $176,000. Hedge funds and other institutional investors own 18.83% of the company’s stock.
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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