PPC Stock Summary and Trading Ideas (Pilgrims Pride | NASDAQ:PPC)

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.

Pilgrims Pride trades on the NASDAQ stock market under the symbol PPC.

As of April 19, 2024, PPC stock price climbed to $35.77 with 522,148 million shares trading.

PPC has a beta of 0.54, meaning it tends to be less sensitive to market movements. PPC has a correlation of 0.07 to the broad based SPY ETF.

PPC has a market cap of $8.47 billion. This is considered a Mid Cap stock.

Last quarter Pilgrims Pride reported $5 billion in Revenue and $.59 earnings per share. This beat revenue expectation by $58 million and exceeded earnings estimates by $.19.

In the last 3 years, PPC stock traded as high as $36.15 and as low as $19.96.

The top ETF exchange traded funds that PPC belongs to (by Net Assets): IJH, VTI, VB, VBR, VXF.

PPC has outperformed the market in the last year with a price return of +56.5% while the SPY ETF gained +21.2%. PPC has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +28.3% and +2.0%, respectively, while the SPY returned +3.0% and -4.5%, respectively.

PPC support price is $35.11 and resistance is $35.99 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that PPC stock will trade within this expected range on the day.