African Swine Fever Driving a Turn in the U.S. Protein Cycle for No-Moat Pilgrim’s
We expect to take our $29 fair value estimate up at a low-single-digit clip after no-moat Pilgrim’s results, in which the U.S. market sharply recovered, even as Mexico and Europe lagged our forecast. However, after the stock’s 75% run this year, we’d suggest investors await a more significant margin of safety.The U.S. recovery is well underway, with improved chicken demand lifting U.S. revenue 2.3% compared with last year’s 0.2% decline and our fiscal 2019 estimate of 1.5% growth. We expect to ...
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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