Pilgrim's Pride Co. (NASDAQ:PPC) was the target of a large decline in short interest in November. As of November 30th, there was short interest totalling 16,237,259 shares, a decline of 1.8% from the November 15th total of 16,539,985 shares. Based on an average daily trading volume, of 672,278 shares, the days-to-cover ratio is presently 24.2 days. Currently, 30.8% of the company’s stock are short sold.

Several equities research analysts recently weighed in on the company. BidaskClub lowered Pilgrim's Pride from a “buy” rating to a “hold” rating in a report on Wednesday. BMO Capital Markets restated a “hold” rating and issued a $24.00 target price on shares of Pilgrim's Pride in a report on Friday, August 25th. Vertical Research lowered Pilgrim's Pride from a “buy” rating to a “hold” rating in a report on Tuesday, September 5th. KeyCorp assumed coverage on Pilgrim's Pride in a report on Tuesday, October 31st. They issued a “hold” rating for the company. Finally, Jefferies Group restated a “hold” rating and issued a $27.00 target price (up from $25.00) on shares of Pilgrim's Pride in a report on Friday, October 6th. Seven equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $32.50.

Several hedge funds have recently modified their holdings of the company. LSV Asset Management lifted its holdings in shares of Pilgrim's Pride by 8.1% during the second quarter. LSV Asset Management now owns 10,195,841 shares of the company’s stock worth $223,492,000 after buying an additional 767,317 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Pilgrim's Pride by 14.6% during the third quarter. JPMorgan Chase & Co. now owns 4,152,325 shares of the company’s stock worth $117,970,000 after buying an additional 528,588 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Pilgrim's Pride by 4.3% during the third quarter. Dimensional Fund Advisors LP now owns 934,475 shares of the company’s stock worth $26,548,000 after buying an additional 38,754 shares during the last quarter. State Street Corp lifted its holdings in shares of Pilgrim's Pride by 9.7% during the second quarter. State Street Corp now owns 793,321 shares of the company’s stock worth $17,385,000 after buying an additional 70,198 shares during the last quarter. Finally, Balyasny Asset Management LLC lifted its holdings in shares of Pilgrim's Pride by 595.5% during the second quarter. Balyasny Asset Management LLC now owns 789,357 shares of the company’s stock worth $17,303,000 after buying an additional 675,862 shares during the last quarter. Institutional investors own 24.62% of the company’s stock.

Shares of Pilgrim's Pride (NASDAQ:PPC) opened at $32.41 on Thursday. Pilgrim's Pride has a 1-year low of $18.10 and a 1-year high of $38.39. The company has a quick ratio of 0.81, a current ratio of 1.65 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $8,000.00, a P/E ratio of 12.77 and a beta of 0.29.

Pilgrim's Pride (NASDAQ:PPC) last posted its earnings results on Tuesday, November 7th. The company reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.21. Pilgrim's Pride had a return on equity of 53.62% and a net margin of 7.03%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period in the previous year, the company earned $0.40 EPS. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. analysts predict that Pilgrim's Pride will post 2.85 earnings per share for the current year.

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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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