Pilgrim's Pride Sees Unusually Large Options Volume (PPC)

Pilgrim's Pride Co. (NASDAQ:PPC) saw unusually large options trading on Thursday. Traders purchased 4,727 put options on the stock. This represents an increase of 4,824% compared to the typical volume of 96 put options.

In other news, CEO William W. Lovette sold 100,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $25.36, for a total transaction of $2,536,000.00. Following the completion of the transaction, the chief executive officer now directly owns 578,653 shares in the company, valued at approximately $14,674,640.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 78.81% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH lifted its stake in Pilgrim's Pride by 42.7% in the 4th quarter. Allianz Asset Management GmbH now owns 981,839 shares of the company’s stock valued at $30,496,000 after acquiring an additional 293,568 shares in the last quarter. MANA Advisors LLC bought a new stake in Pilgrim's Pride in the 4th quarter valued at approximately $519,000. Sterling Capital Management LLC lifted its stake in Pilgrim's Pride by 3.5% in the 3rd quarter. Sterling Capital Management LLC now owns 130,535 shares of the company’s stock valued at $3,708,000 after acquiring an additional 4,400 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in Pilgrim's Pride in the 4th quarter valued at approximately $4,634,000. Finally, OxFORD Asset Management LLP bought a new stake in Pilgrim's Pride in the 3rd quarter valued at approximately $715,000. Hedge funds and other institutional investors own 25.10% of the company’s stock.



NASDAQ:PPC opened at $23.88 on Friday. Pilgrim's Pride has a fifty-two week low of $20.28 and a fifty-two week 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 cap of $5,987.98, a PE ratio of 8.26 and a beta of 0.19.

Pilgrim's Pride (NASDAQ:PPC) last released its quarterly earnings data on Wednesday, February 14th. The company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.05. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Pilgrim's Pride had a return on equity of 49.74% and a net margin of 7.08%. equities analysts expect that Pilgrim's Pride will post 3.07 EPS for the current fiscal year.

Several equities analysts have recently weighed in on the company. Vertical Group upgraded Pilgrim's Pride from a “hold” rating to a “buy” rating in a report on Wednesday, March 14th. Mizuho assumed coverage on Pilgrim's Pride in a report on Thursday, April 5th. They set a “buy” rating and a $29.00 price objective on the stock. ValuEngine cut Pilgrim's Pride from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. BMO Capital Markets cut their price objective on Pilgrim's Pride to $31.00 and set a “market perform” rating on the stock in a report on Friday, February 16th. Finally, Morgan Stanley set a $25.00 price objective on Pilgrim's Pride and gave the company a “hold” rating in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. Pilgrim's Pride presently has an average rating of “Hold” and an average target price of $28.80.

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About Pilgrim's Pride

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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