Piligrim's Pride Corp.

Pilgrims Pride is primarily engaged in the production, processing, marketing and distribution of fresh, frozen chicken products to retailers, distributors and foodservice operators. The company's primary product types are fresh chicken products, prepared chicken products and export chicken products. The company's fresh chicken products consist of refrigerated (nonfrozen) whole or cut-up chicken, either pre-marinated or non-marinated and prepackaged case-ready chicken. The company's case-ready chicken includes various combinations of freshly refrigerated, whole chickens and chicken parts in trays, bags or other consumer packs labeled and priced ready for the retail grocer's fresh meat counter.
  • TickerPPC
  • ISINUS72147K1088
  • ExchangeNASDAQ Stock Market
  • SectorFood Producers
  • CountryUnited States
Valens Research

Valens Equity Insights and Inflections - 2021 05 04

Current market expectations for AYI are overly pessimistic. Markets expect UAFRS-based ROA (Uniform ROA or ROA') to drop to levels not seen since 2009-2011. The market is not recognizing how Acuity Brands is positioned to be a leader in the adoption of the Internet of Things, and that points to strong secular demand tailwinds, and premium returns. While the market is pricing the company for declines, it appears positioned to see a ramp in profitability, just as it had 10 years ago when it led another replacement cycles with new technology innovation for lighting. On top of this, management'...

Valens Research

PPC - Embedded Expectations Analysis - 2021 04 27

Pilgrim's Pride Corporation (PPC:USA) currently trades below corporate averages relative to UAFRS-based (Uniform) earnings, with an 18.5x Uniform P/E. Even at these levels, the market is pricing in bullish expectations for the firm, but management may have concerns about their legacy European operations, international protein demand, and the pandemic's effect on global trade Specifically, management may lack confidence in their ability to strengthen their legacy European operations, sustain strong revenue growth, and expand the retail distribution for their Just BARE brands. Moreover, managem...

Valens Research

PPC - Valens Credit Report - 2021 03 29

Credit markets are grossly overstating PPC's credit risk with a YTW of 5.293%, relative to an Intrinsic YTW of 2.023% and an Intrinsic CDS of 119bps. Meanwhile, Moody's is materially overstating the firm's fundamental credit risk, with its speculative Ba3 credit rating five notches lower than Valens' IG4+ (Baa1) credit rating Incentives Dictate Behavior™ analysis highlights mostly positive signals for creditors. Management's compensation framework should drive them to focus on all three value drivers; asset efficiency, margin expansion, and revenue growth, which should lead to Uniform ROA imp...

Moody's assigns B1 to Pilgrim's Pride's $1 billion unsecured sustainability-linked notes

Rating Action: Moody's assigns B1 to Pilgrim's Pride's $1 billion unsecured sustainability-linked notes. Global Credit Research- 25 Mar 2021. New York, March 25, 2021-- Moody's Investors Service has assigned a B1 rating to proposed $1 billion senior unsecured 10- year sustainability-linked notes being offered today by Pilgrim's Pride Corporation.

Dave Nicoski ...
  • Ross LaDuke

Vermilion Short Shots: Technically Vulnerable Stocks

Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.

Dave Nicoski ...
  • Ross LaDuke

Vermilion Short Shots: Technically Vulnerable Stocks

Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.

Dave Nicoski ...
  • Ross LaDuke

Vermilion Short Shots: Technically Vulnerable Stocks

Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.

Dave Nicoski ...
  • Ross LaDuke

Vermilion Compass: Weekly Equity Strategy

Outlook deteriorating; Upgrading Staples Throughout last week the U.S.-China tariff escalation and market action did not result in material changes to our outlook. That is, until yesterday (Monday), when the market opened down and moved lower throughout the day, and several key developments that were instrumental in our positive outlook made a turn for the worse. Below we highlight several negative developments which lead us to a more cautious outlook. • Consumer Staples upgrade; RS improving for defensive areas. We are upgrading Consumer Staples to market weight due to RS bullishly inflec...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Compass: Weekly Equity Strategy

Market activity, both bonds and stocks, has been all about realigning expectations. Wednesday's Fed announcement was more dovish than expected, and the market is now pricing in roughly 25bps of cuts by the end of 2019. Stocks reacted positively on Thursday, but then reversed (and then some) on Friday as global growth concerns became a little more serious. We continue to maintain our positive outlook and highlight below several observations which lead us to this conclusion. • Broadening yield curve inversion. A more pronounced yield curve inversion (3M/10Y and 1Y/10Y) is certainly unsettling...

Valens Research

Valens Equity Insights and Inflections - 2021 05 04

Current market expectations for AYI are overly pessimistic. Markets expect UAFRS-based ROA (Uniform ROA or ROA') to drop to levels not seen since 2009-2011. The market is not recognizing how Acuity Brands is positioned to be a leader in the adoption of the Internet of Things, and that points to strong secular demand tailwinds, and premium returns. While the market is pricing the company for declines, it appears positioned to see a ramp in profitability, just as it had 10 years ago when it led another replacement cycles with new technology innovation for lighting. On top of this, management'...

Valens Research

PPC - Embedded Expectations Analysis - 2021 04 27

Pilgrim's Pride Corporation (PPC:USA) currently trades below corporate averages relative to UAFRS-based (Uniform) earnings, with an 18.5x Uniform P/E. Even at these levels, the market is pricing in bullish expectations for the firm, but management may have concerns about their legacy European operations, international protein demand, and the pandemic's effect on global trade Specifically, management may lack confidence in their ability to strengthen their legacy European operations, sustain strong revenue growth, and expand the retail distribution for their Just BARE brands. Moreover, managem...

Valens Research

PPC - Valens Credit Report - 2021 03 29

Credit markets are grossly overstating PPC's credit risk with a YTW of 5.293%, relative to an Intrinsic YTW of 2.023% and an Intrinsic CDS of 119bps. Meanwhile, Moody's is materially overstating the firm's fundamental credit risk, with its speculative Ba3 credit rating five notches lower than Valens' IG4+ (Baa1) credit rating Incentives Dictate Behavior™ analysis highlights mostly positive signals for creditors. Management's compensation framework should drive them to focus on all three value drivers; asset efficiency, margin expansion, and revenue growth, which should lead to Uniform ROA imp...

Moody's assigns B1 to Pilgrim's Pride's $1 billion unsecured sustainability-linked notes

Rating Action: Moody's assigns B1 to Pilgrim's Pride's $1 billion unsecured sustainability-linked notes. Global Credit Research- 25 Mar 2021. New York, March 25, 2021-- Moody's Investors Service has assigned a B1 rating to proposed $1 billion senior unsecured 10- year sustainability-linked notes being offered today by Pilgrim's Pride Corporation.

Pilgrim's Pride Corporation - September 2020 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Moody's announces completion of a periodic review of ratings of Pilgrim's Pride Corporation

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Pilgrim's Pride Corporation. Global Credit Research- 14 Oct 2020. New York, October 14, 2020-- Moody's Investors Service has completed a periodic review of the ratings of Pilgrim's Pride Corporation and other ratings that are associated with the same analytical unit.

Pilgrim's Pride Corporation - June 2020 (LTM): Peer Snapshot

Peer Snapshot:  Pilgrim's Pride Corporation - June 2020 (LTM) 8 September 2020 (in US millions) FYE Dec-18 FYE Dec-19 LTM Jun-20 FYE Dec-18 FYE Dec-19 LTM Mar-20 FYE Dec-18 FYE Dec-19 LTM Jun-20

Pilgrim's Pride Corporation - March 2020 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

PILGRIMS PRIDE reduced its risk exposure resulting in an upgrade to Positive

PILGRIMS PRIDE (US), a company active in the Food Products industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 4 out of 4 possible stars; its market behaviour has improved and can be considered as defensive. theScreener believes that this new assessment merits an overall rating upgrade to Positive. As of the analysis date March 9, 2021, the closing price was USD 24.43 and its potential was estimated at USD 26.22.

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