Pilgrim's Pride CorporationNYSE
Pilgrim's Pride Is Embedding Far Lower Chicken Prices
Alpha Gen Capital
Alpha Gen Capital
Fri, Oct. 7, 12:26 PM
- Tyson Foods (NYSE:TSN) is now down 10.2% on concerns raised by Pivotal Research about a class action lawsuit that alleges major collusion among producers. The investment firm thinks the legal action will shine a big regulatory spotlight on the sector.
- Tyson has gone on record to dispute the "speculative conclusions" raised in the Pivotal Research report, but clearly the genie is out of the bottle.
- Sanderson Farms (SFM -1.6%) and Pilgrim's Pride (PPC -4.7%) also sharply lower in midday action. Hormel (HRL -0.6%) and JBS (OTCQX:JBSAY -1%), which were not named in the class action lawsuit, trade roughly in-line with broad market averages.
- Previously: Tyson Foods -6% after stinging downgrade from Pivotal Research (Oct. 7)
Fri, Oct. 7, 12:01 PM
Wed, Jul. 27, 4:45 PM
Tue, Jul. 26, 5:35 PM
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Mon, Jul. 11, 2:12 PM
- A bill requiring food companies to label GMO ingredients was approved by the U.S. Senate by a 63 to 30 vote and now heads to the House of Representatives.
- The negotiated bill requires food companies to label genetically modified food by a phrase, symbol on the package, or a bar code that can be scanned by smartphones.
- The Department of agriculture still has two years to write the precise labeling rules if the House approves the bill.
- The passage of the bill is seen as a positive for the food sector as the alternative of having to adhere to state-by-state rules could create operational chaos for national sellers.
- Food stocks: SENEA, SENEB, THS, OTCPK:NCRA, CPB, MDLZ, GIS, OTCPK:NSRGY, FLO, CAG, DF, SJM,DF, ANFI, JJSF, WWAV, UL, OTCQX:DANOY, OTCPK:PLATF, POST, K, PEP, DMND, PF, HAIN, KO, BETR, KHC, WILC, PPC, PF, LWAY, HRL, TSN, DTEA, SAFM, BRID.
Mon, Jun. 6, 10:04 AM
- BMO Capital takes a dimmer view on the upside for meat producers after factoring in the strong rally in the sector which has pushed up valuation levels.
- Tyson Foods (TSN -3.4%) and Pilgrim's Pride (PPC -3%) are both moved by BMO to Market Perform from Outperform.
- BMO set a price target of $69 on TSN and PPC caught a $27 PT.
- It's a weak day across the sector with Sanderson Farms (SAFM -1.9%), Hormel (HRL -0.7%) and JBS (OTCQX:JBSAY -2.3%) ADRs all lower.
- Related sector news: Plant-based hamburger startup creates some interesting sizzle (June 4)
Wed, May 25, 7:25 AM
- BB&T Capital puts the brakes on with Pilgrim's Pride (NASDAQ:PPC) after the strong run by the stock.
- The investment firm shifts to a Hold rating after having PPC set at Buy.
- Shares of Pilgrim's Pride are up 22% over the last six months, topping out at $27.79. Q1 profit came in ahead of expectations.
Mon, May 9, 1:59 PM
- Select food stocks are rallying after commentary from Tyson Foods management points to favorable trends in the industry on the demand and cost side.
- Tyson expects "good" cattle supply for this summer and into 2017. The company delivered improved beef and chicken margins in Q1.
- Meat stocks Sanderson Farms (SAFM +2%), Hormel Foods (HRL +3.3%), and Pilgrim's Pride (PPC +4%) are all solidly higher, while on a broader sector view WhiteWave Foods (WWAV +1.8%) and ConAgra Foods (CAG +1.5%) are also rallying.
- Previously: Tyson Foods at all-time high after earnings dazzle (May 9)
- Previously: Tyson Foods to expand presence on Amazon Fresh (May 9)
Thu, Apr. 28, 10:44 AM
- Investors are flocking to Pilgrim's Pride (PPC +14.6%) after the company topped EPS estimates and announced a special dividend.
- Though adjusted EBITDA margin plunged during the quarter compared to a year ago, some firming up of the U.S. and Mexico businesses is calming investors.
- Pilgrim’s plan to convert a production facility to making certified organic chicken was highlighted by management as a long-term benefit.
- Previously: Pilgrim's Pride beats by $0.04, revenue in-line (April 27)
- Previously: Pilgrim's Pride declares $2.75 dividend (April 27)
Wed, Apr. 27, 4:59 PM
- Pilgrim's Pride (NASDAQ:PPC) declares $2.75/share special dividend.
- Payable May 18; for shareholders of record May 10; ex-div May 6.
Wed, Apr. 27, 4:32 PM
- Pilgrim's Pride (NASDAQ:PPC): Q1 EPS of $0.46 beats by $0.04.
- Revenue of $1.96B (-4.4% Y/Y) in-line.
- Shares +7.37%.
Tue, Apr. 26, 5:35 PM
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Tue, Apr. 26, 8:33 AM
- Costco (NASDAQ:COST) will extend a long-term deal Pilgrim's Pride (NASDAQ:PPC), according to a top executive.
- Shares of Pilgrim's Pride have been under some moderate pressure since Costco announced it planned to build a poultry plant in Nebraska.
- Costco expects its chicken demand to grow steadily over the next few years.
- Now read Costco mulls building poultry-processing plant in Nebraska
Thu, Feb. 25, 1:25 PM
- Sanderson Farms (SAFM +3.6%), Tyson Food (TSN +1.8%), and Pilgrim's Pride (PPC +3.8%) are all higher after Sanderson reported earnings ahead of estimates.
- Sanderson's report showed that poultry margins are on the rise as stable pricing and lower feed costs factor in. The sector is also starting to lap quarters impacted by the avian flu and export restrictions.
- Side note: All three meat stocks have outperformed the four FANG stock YTD.
- Previously: Sanderson Farms beats by $0.02, beats on revenue (Feb. 25)
Wed, Feb. 10, 5:40 PM
Wed, Feb. 10, 4:37 PM
- Pilgrim's Pride (NASDAQ:PPC): Q4 EPS of $0.26 misses by $0.14.
- Revenue of $1.96B (-7.1% Y/Y) misses by $30M.
- Shares -10.87%.