Economy

Pilgrim's Pride Corporation (NASDAQ:PPC) To Release Earnings

The firm owned 33,800 shares of the company's stock after selling 100 shares during the period. California Public Employees Retirement System boosted its stake in shares of Pilgrim's Pride Co.by 2.2% in the second quarter. Also, the number of hedge funds holding Pilgrims Pride Corp in their top 10 positions decreased from 2 to 1 for a decrease of 1.

Baring Asset Management Ltd decreased Pilgrim's Pride Corporation (PPC) stake by 91.55% reported in 2017Q2 SEC filing. The Manufacturers Life Insurance Company now owns 9,203 shares of the company's stock valued at $201,000 after buying an additional 798 shares in the last quarter. Legal & General Group Plc raised its position in shares of Pilgrim's Pride Corp.by 3.9% in the second quarter. Oppenheimer & Co. Inc. now owns 81,950 shares of the company's stock worth $1,796,000 after buying an additional 16,066 shares in the last quarter.

Morgan Stanley initiated coverage on shares of Pilgrim's Pride Co. Corecommodity Management Llc owns 64,080 shares or 1.35% of their United States portfolio. Sei Investments Co. lifted its holdings in Pilgrim's Pride Co.by 28.8% during the 3rd quarter. If the $32.67 price target is reached, the company will be worth $135.00 million more. (NASDAQ PPC) traded down $0.87 during mid-day trading on Monday, hitting $30.52. The stock had a trading volume of 447,242 shares, compared to its average volume of 1,110,000. The stock has a 50-day moving average price of $20.50 and a 200 day moving average price of $23.11. The company has market cap of $1.15 billion.

Pilgrim's Pride Corp. had a net margin of 5.42% and a return on equity of 39.85%. Panagora Asset Mngmt stated it has 0% in Pilgrim's Pride Corporation (NASDAQ:PPC).

In terms of earnings per share, 6 analysts have a 0.49 EPS mean target for the quarter ending Dec-17, for the quarter ending Mar-18, 5 analysts have a 0.48 EPS mean target and for the quarter ending Mar-18 there are 5 estimates of 2.59 EPS.

They expect $0.77 EPS, up 49.35% or $0.38 from last year's $0.39 per share. The company's revenue for the quarter was down 3.8% on a year-over-year basis.

PPC has been the subject of a number of recent research reports. Pilgrims Pride had 16 analyst reports since October 30, 2015 according to SRatingsIntel. BidaskClub downgraded Pilgrim's Pride Co. from a hold rating to a sell rating in a research note on Thursday, July 27th. The Company's objectives are to manage its investments to provide stable, sustainable and growing cash flows through investments in healthcare real estate across the globe; build a diversified, growth‐oriented global portfolio of healthcare properties based on an initial portfolio of investments in Australasia, Brazil, Germany and Canada; capitalize on internal growth and seek accretive healthcare real estate acquisition opportunities in its target worldwide markets, with a focus on Australasia, Brazil, Germany and Canada; grow the value of its assets and maximize the long‐term value of its Trust Units through its management, and provide predictable and growing cash distributions per unit, on a tax‐efficient basis. Finally, Zacks Investment Research upgraded Pilgrim's Pride Corporation from a "hold" rating to a "strong-buy" rating and set a $28.00 price target for the company in a report on Wednesday, August 2nd. If the published price targets set by Patterson Companies, Inc. analysts have any power to influence the stock's share price, the highest price target set for PDCO is $53. Pilgrims Pride Corp New now has $7.58B valuation. It is a producer and seller of chicken with activities 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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