Pilgrim's Pride
About: Pilgrim's Pride is the second-largest poultry producer in the US (58% of 2023 sales), the UK (30% including other European sales), and Mexico (12%). Its UK and European arm also includes pork operations from the 2019 acquisition of Tulip. Pilgrim's sells to chain restaurants, food processors, food distributors, and retail chains. most of its US and Mexican sales come from fresh chicken, while prepared chicken and pork constitute most of its UK and European sales. JBS owns more than 80% of Pilgrim's Pride's outstanding shares, though it failed to acquire the remaining stake in 2021 after a special board committee deemed JBS' offer undervalued Pilgrim's Pride.
Employees: 62,000
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
114% more first-time investments, than exits
New positions opened: 90 | Existing positions closed: 42
45% more capital invested
Capital invested by funds: $1.5B [Q2] → $2.18B (+$677M) [Q3]
26% more repeat investments, than reductions
Existing positions increased: 118 | Existing positions reduced: 94
16% more funds holding
Funds holding: 292 [Q2] → 340 (+48) [Q3]
3.56% more ownership
Funds ownership: 16.47% [Q2] → 20.03% (+3.56%) [Q3]
0% more funds holding in top 10
Funds holding in top 10: 1 [Q2] → 1 (+0) [Q3]
73% less call options, than puts
Call options by funds: $20.5M | Put options by funds: $74.6M
Research analyst outlook
4 Wall Street Analysts provided 1 year price targets over the past 3 months
4 analyst ratings
Barclays Duffy Fischer 62% 1-year accuracy 8 / 13 met price target | 4%downside $49 | Equal-Weight Maintained | 1 Nov 2024 |
BMO Capital Andrew Strelzik 62% 1-year accuracy 18 / 29 met price target | 16%downside $43 | Market Perform Maintained | 1 Nov 2024 |
Stephens & Co. Pooran Sharma 0 / 0 met price target | 16%downside $43 | Equal-Weight Reinstated | 3 Oct 2024 |
Barclays Duffy Fischer 62% 1-year accuracy 8 / 13 met price target | 12%downside $45 | Equal-Weight Maintained | 9 Sept 2024 |
Financial journalist opinion
Based on 6 articles about PPC published over the past 30 days
