Is Selling Pilgrim’s Pride Corporation Here a Winning Strategy? Option Traders Hate The Stock

 Is Selling Pilgrim's Pride Corporation Here a Winning Strategy? Option Traders Hate The Stock

In today’s session Pilgrim’s Pride Corporation (PPC) recorded an unusually high (400) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious PPC decrease. With 400 contracts traded and 4944 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: PPC161118P00020000 closed last at: $0.25 or 25% up. About 1.99M shares traded hands or 41.13% up from the average. Pilgrim’s Pride Corporation (NASDAQ:PPC) has declined 18.75% since April 4, 2016 and is downtrending. It has underperformed by 19.84% the S&P500.

Pilgrim’s Pride Corporation (NASDAQ:PPC) Ratings Coverage

Out of 3 analysts covering Pilgrims Pride (NASDAQ:PPC), 0 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 0 are positive. $24 is the highest target while $21 is the lowest. The $22.67 average target is 16.86% above today’s ($19.4) stock price. Pilgrims Pride has been the topic of 6 analyst reports since October 30, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating given on Wednesday, May 25 by BB&T Capital. The stock of Pilgrim’s Pride Corporation (NASDAQ:PPC) has “Outperform” rating given on Friday, October 30 by BMO Capital Markets. The stock has “Hold” rating given by Jefferies on Wednesday, December 16. Jefferies maintained Pilgrim’s Pride Corporation (NASDAQ:PPC) on Wednesday, October 12 with “Hold” rating. BB&T Capital upgraded Pilgrim’s Pride Corporation (NASDAQ:PPC) rating on Wednesday, November 4. BB&T Capital has “Buy” rating and $24 price target. The rating was downgraded by BMO Capital Markets to “Market Perform” on Monday, June 6.

According to Zacks Investment Research, “Pilgrim’s Pride is one of the largest chicken companies in the US, Mexico and Puerto Rico. The company’s fresh chicken retail line is sold throughout the US, throughout Puerto Rico, and in the northern and central regions of Mexico. Its prepared chicken products meet the needs of some of the largest customers in the food service industry across the US. Additionally, the Company exports commodity chicken products to over 90 countries. As a vertically integrated company, it controls every phase of the production of its products. The company operates feed mills, hatcheries, processing plants and distribution centers in US, Puerto Rico and Mexico.”

Insitutional Activity: The institutional sentiment increased to 1.15 in 2016 Q2. Its up 0.56, from 0.59 in 2016Q1. The ratio improved, as 28 funds sold all Pilgrim’s Pride Corporation shares owned while 70 reduced positions. 41 funds bought stakes while 72 increased positions. They now own 66.15 million shares or 3.48% less from 68.53 million shares in 2016Q1.
Moreover, Ajo L P has 0.02% invested in Pilgrim’s Pride Corporation (NASDAQ:PPC) for 174,015 shares. Advsr Asset Management holds 35,713 shares or 0.01% of its portfolio. Mycio Wealth Prtnrs Limited Liability Corporation accumulated 0% or 120 shares. Brandywine Global Investment Limited accumulated 0.04% or 232,357 shares. Ubs Asset Mngmt Americas Incorporated, a Illinois-based fund reported 23,700 shares. Moreover, Manufacturers Life Ins The has 0% invested in Pilgrim’s Pride Corporation (NASDAQ:PPC) for 9,663 shares. Quantbot Techs Limited Partnership has 0.01% invested in the company for 3,524 shares. Macquarie Grp Limited has 0% invested in the company for 59,400 shares. Pub Employees Retirement Association Of Colorado holds 0% of its portfolio in Pilgrim’s Pride Corporation (NASDAQ:PPC) for 1,900 shares. Pinebridge L P holds 0.1% or 75,741 shares in its portfolio. Jane Street Group Inc Ltd Liability Company accumulated 0% or 14,099 shares. Cubist Systematic Strategies Ltd Co owns 19,825 shares or 0.03% of their US portfolio. Morgan Stanley has 222,829 shares for 0% of their US portfolio. Convergence Inv Prtn Limited Liability last reported 147,827 shares in the company. Wellington Group Limited Liability Partnership last reported 196,013 shares in the company.

Pilgrim’s Pride Corporation is a retail food store. The company has a market cap of $4.72 billion. The Firm is a producer and seller of chicken products with activities in the United States, Mexico and Puerto Rico. It has a 11.42 P/E ratio. The Firm is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.

PPC Company Profile

Pilgrim’s Pride Corporation (Pilgrim’s), incorporated on September 11, 1986, is a retail food store. The Firm is a producer and seller of chicken products with activities in the United States, Mexico and Puerto Rico. The Firm is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators. Pilgrim’s offers a range of products to its clients through various distribution channels. Pilgrim’s fresh chicken products include refrigerated (non-frozen) whole chickens, whole cut-up chickens and selected chicken parts that are either marinated or non-marinated. The Company’s prepared chicken products include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, some of, which are either breaded or non-breaded and either marinated or non-marinated.

More notable recent Pilgrim’s Pride Corporation (NASDAQ:PPC) news were published by: Prnewswire.com which released: “Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Pilgrim’s Pride …” on October 31, 2016, also Prnewswire.com with their article: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation …” published on October 07, 2016, Seekingalpha.com published: “Pilgrim’s Pride: Shorts’ Feathers Remain Ruffled” on October 30, 2016. More interesting news about Pilgrim’s Pride Corporation (NASDAQ:PPC) were released by: Globenewswire.com and their article: “SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Pilgrim’s …” published on October 31, 2016 as well as Prnewswire.com‘s news article titled: “SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on …” with publication date: October 28, 2016.

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