Major Move Is Coming For Pilgrim’s Pride Corporation After Bullish Options Activity

 Major Move Is Coming For Pilgrim's Pride Corporation After Bullish Options Activity

In today’s session Pilgrim’s Pride Corporation (PPC) registered an unusually high (717) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious PPC increase. With 717 contracts traded and 17324 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: PPC161216C00019250 closed last at: $0.25 or 28.6% down. About 162,809 shares traded hands. Pilgrim’s Pride Corporation (NASDAQ:PPC) has declined 22.06% since April 27, 2016 and is downtrending. It has underperformed by 27.29% the S&P500.

Analysts await Pilgrim’s Pride Corporation (NASDAQ:PPC) to report earnings on February, 8. They expect $0.39 EPS, up 50.00% or $0.13 from last year’s $0.26 per share. PPC’s profit will be $99.78M for 11.53 P/E if the $0.39 EPS becomes a reality. After $0.39 actual EPS reported by Pilgrim’s Pride Corporation for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

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 26.08% above today’s ($17.98) stock price. Pilgrims Pride has been the topic of 6 analyst reports since October 30, 2015 according to StockzIntelligence Inc. The stock of Pilgrim’s Pride Corporation (NASDAQ:PPC) earned “Hold” rating by BB&T Capital on Wednesday, May 25. The stock of Pilgrim’s Pride Corporation (NASDAQ:PPC) earned “Hold” rating by Jefferies on Wednesday, October 12. The firm has “Buy” rating by BB&T Capital given on Wednesday, November 4. The firm has “Hold” rating given on Wednesday, December 16 by Jefferies. The firm has “Market Perform” rating given on Monday, June 6 by BMO Capital Markets. The stock has “Outperform” rating given by BMO Capital Markets on Friday, October 30.

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 decreased to 0.81 in 2016 Q2. Its down 0.34, from 1.15 in 2016Q1. The ratio is negative, 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.
Spark Inv Mngmt Limited Liability Corporation has 0.38% invested in the company for 159,600 shares. Wellington Mgmt Gru Llp accumulated 0% or 196,013 shares. The New York-based Citigroup has invested 0% in Pilgrim’s Pride Corporation (NASDAQ:PPC). Schwab Charles Investment Inc owns 238,337 shares or 0.01% of their US portfolio. New York State Common Retirement Fund last reported 409,700 shares in the company. Blackrock Inc reported 858,837 shares or 0.03% of all its holdings. Numeric Ltd has 0.07% invested in the company for 329,000 shares. Liberty Mutual Asset last reported 12,600 shares in the company. Aperio Ltd Com last reported 30,653 shares in the company. Old Mutual Invsts (Uk) has invested 0.02% of its portfolio in Pilgrim’s Pride Corporation (NASDAQ:PPC). Jpmorgan Chase accumulated 0.03% or 4.05M shares. National Bank & Trust Of Montreal Can accumulated 0% or 2,850 shares. Bridgeway Cap Mngmt Inc, a Texas-based fund reported 1.15 million shares. Trexquant Investment Limited Partnership holds 0.03% of its portfolio in Pilgrim’s Pride Corporation (NASDAQ:PPC) for 9,400 shares. Renaissance Technologies Ltd Limited Liability Company, a New York-based fund reported 1.54 million shares.

Pilgrim’s Pride Corporation is a retail food store. The company has a market cap of $4.60 billion. The Firm is a producer and seller of chicken products with activities in the United States, Mexico and Puerto Rico. It has a 10.59 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: Startribune.com which released: “Chicken deal: Pilgrim’s Pride buys St. Cloud-based Gold’n Plump for $350 million” on November 29, 2016, also Marketwatch.com with their article: “Pilgrim’s Pride buys chicken products producer GNP for $350 million” published on November 29, 2016, Seekingalpha.com published: “Still Cautious On Pilgrim’s Pride” on November 30, 2016. More interesting news about Pilgrim’s Pride Corporation (NASDAQ:PPC) were released by: Prnewswire.com and their article: “Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Pilgrim’s Pride …” published on October 31, 2016 as well as Seekingalpha.com‘s news article titled: “Pilgrim’s Pride, After The Fall” with publication date: November 22, 2016.

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