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PPC

Pilgrim's Pride

$18.30

0.32 (1.78%)

, TSN

Tyson Foods

$56.90

-2.06 (-3.49%)

15:07
11/30/16
11/30
15:07
11/30/16
15:07

Georgia suspends chicken index due to lack of accuracy compliance, WSJ says

The Georgia Agriculture Department suspended its "Georgia Dock" weekly poultry price index Wednesday after several suppliers failed to submit affidavits confirming the accuracy of their data, reports the Wall Street Journal. The report explains this is the first week that such affidavits have been required, and a spokesperson told the publication that not enough companies submitted them: "We did not feel that the number was sufficient to meet minimum statistical reporting standards. We understand that companies may need more time to review the requirements and it is possible to resume publishing the Georgia Dock Price in the future." Responding to the matter, Pilgrim's Pride (PPC) and Tyson (TSN) said they continue to provide prices to the index, though Tyson and Sanderson Farms (SAFM) noted they are still evaluating Georgia's new requirements. Reference Link

PPC

Pilgrim's Pride

$18.30

0.32 (1.78%)

TSN

Tyson Foods

$56.90

-2.06 (-3.49%)

SAFM

Sanderson Farms

$81.49

0.95 (1.18%)

  • 30

    Nov

  • 05

    Dec

  • 15

    Dec

PPC Pilgrim's Pride
$18.30

0.32 (1.78%)

06/09/16
CLVD
06/09/16
NO CHANGE
CLVD
Pilgrim's Pride estimates lowered below consensus at Cleveland Research
Cleveland Research analyst Mike Piken lowered Pilgrim's Price estimates to reflect the volume impact of the shutdown of the Prepared Foods plant in Texas and to reflect the impact of potentially higher 2HF16 feed costs. Piken's Q2 earnings estimate goes to 60c, below consensus of 69c, and FY16 is lowered to $2.17, versus consensus of $2.11. The analyst has a Neutral rating on Pilgrim's Pride shares.
11/18/16
JPMS
11/18/16
NO CHANGE
JPMS
Amid pricing controversy, JPMorgan would 'probably' own Tyson into earnings
Following yesterday's Washington Post story, JPMorgan analyst Ken Goldman says evidence continues to mount suggesting that the Georgia Dock pricing methodology could be flawed. It is still too early to draw full conclusions, but reporting on the topic suggests that if the price discovery methodology is changed, a chicken price decline is more likely than a price increase, Goldman tells investors in a research note. He points out that shares of Tyson Foods (TSN), Sanderson Farms (SAFM) and Pilgrim's Pride (PPC) all declined yesterday by at least 3%. The analyst sees some offsets, however, noting that companies seem to be selling some of their tray pack chicken at prices below Georgia Dock and that some companies no longer price off of the Dock. Goldman remains "highly constructive" on near-term fundamentals and notes that he'd "probably be long" shares of Tyson into Monday's earnings.
06/06/16
BMOC
06/06/16
DOWNGRADE
BMOC
Market Perform
Pilgrim's Pride downgraded on valuation, costs at BMO Capital
As noted earlier, BMO Capital downgraded Pilgrim's Pride to Market Perform from Outperform. The firm downgraded the stock based on valuation and rising feed costs. Target to $27 from $29.
06/06/16
BMOC
06/06/16
DOWNGRADE
BMOC
Market Perform
Pilgrim's Pride downgraded to Market Perform from Outperform at BMO Capital
TSN Tyson Foods
$56.90

-2.06 (-3.49%)

11/22/16
JPMS
11/22/16
NO CHANGE
Target $62
JPMS
Neutral
Tyson Foods removed from Analyst Focus List at JPMorgan
JPMorgan analyst Ken Goldman lowered his price target for Tyson Foods to $62 saying yesterday's Q4 miss shows the company still has "meaningful commodity exposure and potential volatility." The analyst believes, however, that many of the issues in Q4 are likely non-recurring in nature and that Tyson should post a "strong rebound" in Q1. Goldman removed the stock from his firm's Analyst Focus List and keeps a Neutral rating on the shares.
11/22/16
LYON
11/22/16
NO CHANGE
LYON
Tyson Foods weakness a buying opportunity, says CLSA
CLSA analyst Jeremy Scott said Tyson weakness is a buying opportunity as fundamentals remain strong and the CEO transition is overstated. Scott rates Tyson a Buy with an $85 price target.
11/22/16
JEFF
11/22/16
NO CHANGE
Target $75
JEFF
Buy
Jefferies views Tyson Foods selloff as 'great' buying opportunity
Jefferies analyst Akshay Jagdale believes the recent underperformance of Tyson Foods shares provides a "great" buying opportunity. The stock has underperformed the S&P 500 Index significantly since September owing to the Q4 miss and rotation out of staples, Jagdale tells investors in a research note. If not for several one-time issues, primarily in Chicken, Q4 earnings would have been in-line with consensus, the analyst contends. He believes Tyson's value-added long-term growth strategy remains intact. Jagdale lowered his price target for the shares to $75 from $85 and keeps a Buy rating on the Tysons.
SAFM Sanderson Farms
$81.49

0.95 (1.18%)

10/05/16
DADA
10/05/16
INITIATION
Target $103
DADA
Neutral
Sanderson Farms initiated with a Neutral at DA Davidson
DA Davidson analyst Eric Gottlieb initiated Sanderson Farms with a Neutral and a $103 price target siting valuation.
08/18/16
LYON
08/18/16
UPGRADE
Target $113
LYON
Buy
Sanderson Farms upgraded to Buy from Outperform at CLSA
CLSA analyst Jeremy Scott upgraded Sanderson Farms to Buy saying the outlook for chicken margins has improved with U.S. corn and soybean crops set to break records on ideal growing conditions. The analyst raised his price target for the shares to $113 from $107.
06/07/16
JEFF
06/07/16
NO CHANGE
Target $70
JEFF
Buy
Jefferies recommends Tyson Foods following recent selloff
Jefferies analyst Akshay Jagdale attributes the recent selloff in protein stocks to the recent rally in grain prices and decline in pork margins. The analyst recommends buying shares of Tyson Foods (TSN) but continues to see "significant further potential downside" in Sanderson Farms (SAFM). Jagdale lowered his price target for Tyson to $70 and keeps a Buy rating on the name. He keeps a Hold rating on Hormel Foods (HRL) with a reduced price target of $34 and Underperform rating on Sanderson with a price target of $60.

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ANTM

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