Balanced portfolio amid resilient demand should lead to solid returns at Pilgrim’s Pride.
We do not anticipate significantly altering our $30 per share valuation for no-moat Pilgrim’s Pride after it posted solid second-quarter earnings. While the company’s 7.0% year-to-date top-line growth lags our 8.6% 2017 target (we anticipate a somewhat back-loaded sales cadence), the firm’s 167 basis points of adjusted EBITDA margin expansion is ahead of our roughly 80-basis-point mark. The report should not lead us to meaningfully change our long-term forecast, which calls for 4% sales growth a...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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