Pilgrim's Pride Corporation (PPC) is Downgraded by BB&T Capital Mkts to Hold

Pilgrim's Pride Corporation (PPC) was Downgraded by BB&T Capital Mkts to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. BB&T Capital Mkts advised their investors in a research report released on May 25, 2016.

On the company’s financial health, Pilgrim's Pride Corporation reported $0.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.38. The company had revenue of $1962.90 million for the quarter, compared to analysts expectations of $1975.79 million. The company’s revenue was down -4.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.82 EPS.

Pilgrim's Pride Corporation closed down -0.11 points or -0.44% at $24.97 with 8,61,146 shares getting traded on Friday. Post opening the session at $25.03, the shares hit an intraday low of $24.76 and an intraday high of $25.36 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Feb 23, 2015, Fabio Sandri (Chief Financial Officer) sold 25,400 shares at $27.55 per share price. According to the SEC, on Feb 23, 2015, William W Lovette (CEO and President) sold 90,690 shares at $27.57 per share price.

Pilgrim’s Pride Corporation (Pilgrim’s) is a producer of Chicken products. The Company is a producer and seller of chicken products with operations in the United States Mexico and Puerto Rico. The Company is engaged in the production processing marketing and distribution of fresh frozen and value-added chicken products to retailers distributors and foodservice operators. Its fresh chicken products include refrigerated (non-frozen) whole chickens whole cut-up chickens and selected chicken parts that are either marinated or non-marinated. Its prepared chicken products include fully cooked ready-to-cook and individually frozen chicken parts strips nuggets and patties. The Company focuses on foodservice industry principally chain restaurants and food processors such as Chick-fil-A and Yum! Brands; distributors such as US Foods and Sysco and retail customers including grocery store chains and wholesale clubs such as Kroger Wal-Mart Costco Publix and Sam’s Club.

Pilgrim's Pride Corporation

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