BMO Capital Downgrades Pilgrim's Pride Corporation to Market Perform

Brokerage firm BMO Capital Downgrades its rating on Pilgrim's Pride Corporation(NASDAQ:PPC). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by BMO Capital was issued on Jun 6, 2016.

In a different note, On May 25, 2016, BB&T Capital said it Downgrades its rating on Pilgrim's Pride Corporation. The shares have been rated ‘Hold’ by the firm.

Pilgrim's Pride Corporation (PPC) shares turned negative on Fridays trading session with the shares closing down -0.05 points or -0.20% at a volume of 13,50,639. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $25.15. The peak price level was also seen at $25.15 while the days lowest was $24.745. Finally the shares closed at $24.94. The 52-week high of the shares is $27.79 while the 52-week low is $17.39. According to the latest information available, the market cap of the company is $6,348 M.

Pilgrim's Pride Corporation(PPC) last announced its earnings results on Apr 27, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $1.96B. Analysts had an estimated revenue of $1.96B. Earnings per share were $0.46. Analysts had estimated an EPS of $0.42.

Several Insider Transactions has been reported to the SEC. On Feb 23, 2015, Fabio Sandri (Chief Financial Officer) sold 25,400 shares at $27.55 per share price.Also, 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.

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