KeyBanc Downgrades Pilgrim's Pride Corporation to Sector Weight

Brokerage firm KeyBanc Downgrades its rating on Pilgrim's Pride Corporation(PPC). The shares have been rated Sector Weight. Previously, the analysts had a Overweight rating on the shares. The rating by the stock financial advisor at KeyBanc was issued on Mar 27, 2017 in a research report to their Investors and Clients.

Pilgrim's Pride Corporation (PPC) made into the market gainers list on Fridays trading session with the shares advancing 0.72% or 0.16 points. Due to strong positive momentum, the stock ended at $22.26, which is also near the day’s high of $22.35. The stock began the session at $22.1 and the volume stood at 8,92,829 shares. The 52-week high of the shares is $27.79 and the 52 week low is $17.15. The company has a current market capitalization of $5,529 M and it has 24,83,70,040 shares in outstanding.

Pilgrim's Pride Corporation(PPC) last announced its earnings results on Feb 8, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $1.908B. Analysts had an estimated revenue of $1.930B. Earnings per share were $0.28. Analysts had estimated an EPS of $0.39.

Several Insider Transactions has been reported to the SEC. On Feb 22, 2017, Fabio Sandri (Chief Financial Officer) sold 32,400 shares at $20.62 per share price.Also, On Feb 22, 2017, William W Lovette (CEO and President) sold 48,310 shares at $20.66 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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