Home PPC Pilgrim's Delight Co. (NASDAQ: PPC) brief curiosity down 15.9% in June

Pilgrim’s Delight Co. (NASDAQ: PPC) brief curiosity down 15.9% in June

Pilgrim’s Pride Co. (NASDAQ: PPC) saw a sharp drop in short interest in June. As of June 15, there was short interest totaling 1,480,000 shares, a decrease of 15.9% compared to May 31 with 1,760,000 shares. Based on an average daily trading volume of 472,200 shares, the day-to-cover ratio is currently 3.1 days. Around 3.1% of the company’s shares are sold short.

In related news, CFO Matthew R. Galvanoni sold 2,951 shares in the company in a transaction dated Tuesday, April 6th. The shares were sold at an average price of $ 24.16 for a total transaction of $ 71,296.16. Upon completion of the sale, the CFO now owns 6,508 shares in the company valued at $ 157,233.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available on the SEC website. 80.54% of the shares are currently owned by company insiders.

Several institutional investors recently added or reduced their stakes in PPC. Corsicana & Co. bought a new stake in Pilgrim’s Pride in the second quarter valued at approximately $ 808,000. Principal Financial Group Inc. increased its stake in Pilgrim’s Pride by 13.0% in the first quarter. Principal Financial Group Inc. now owns 266,692 shares in the company, valued at $ 6,345,000, after purchasing an additional 30,606 shares last quarter. Paloma Partners Management Co purchased a new stake in Pilgrim’s Pride in the first quarter valued at approximately $ 411,000. Point72 Asset Management LP bought a new stake in Pilgrim’s Pride in the first quarter valued at approximately $ 9,226,000. Finally, Man Group plc increased its stake in Pilgrim’s Pride by 1.9% in the first quarter. Man Group plc now owns 328,905 shares in the company valued at $ 7,825,000 after purchasing an additional 6,076 shares last quarter. Institutional investors hold 15.93% of the shares.


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Several equity research analysts recently rated PPC stocks. Barclays raised its price target on Pilgrim’s Pride stock from $ 25.00 to $ 28.00 and rated the stock as “overweight” in a research report on Thursday June 3rd. BMO Capital Markets raised its price target for Pilgrim’s Pride from USD 21.00 to USD 28.00 and gave the stock a “market performance” rating in a research note on Friday, April 30th. Eventually, Zacks Investment Research downgraded Pilgrim’s Pride from a “Buy” rating to a “Hold” rating and set a price target of $ 25.00 for the company. in a research note on Tuesday April 6th. Two investment analysts have rated the stock with a hold rating and three with a buy rating. The stock currently has a consensus rating of “Buy” and an average price target of $ 26.20.

Pilgrim’s Pride stock fell $ 0.26 on Monday to hit $ 21.85. The stock had a trading volume of 26,010 shares, compared with an average volume of 558,979. The company has a 50-day moving average of $ 23.58. Pilgrim’s Pride has a twelve-month low of $ 14.06 and a twelve-month high of $ 26.27. The company has a quick ratio of 0.84, a current ratio of 1.68 and debt of 0.86. The stock has a market capitalization of $ 5.32 billion, a price / earnings ratio of 16.43, a P / E of 0.40, and a beta of 1.12.

Pilgrim’s Pride (NASDAQ: PPC) last released its quarterly earnings data on Wednesday April 28th. The company reported earnings per share (EPS) for the quarter of $ 0.42, beating Thomson Reuters’ consensus estimate of $ 0.35 by $ 0.07. Pilgrim’s Pride had a return on equity of 12.83% and a net margin of 1.04%. The company had revenue of $ 3.27 billion for the quarter, compared to the consensus estimate of $ 3.25 billion. For the same quarter last year, the company had earnings per share of $ 0.12. The company’s sales increased by 6.5% compared to the same quarter of the previous year. On average, stock analysts expect Pilgrim’s Pride to post earnings per share of 2.02 for the current year.

About Pilgrim’s Pride

Pilgrim’s Pride Corporation manufactures, processes, markets and distributes fresh, frozen and value added chicken and pork products to retailers, distributors and hospitality establishments in the US, UK, Mexico, France, Puerto Rico, the Netherlands, rest of Europe, the Middle East, Asia and international.

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