Latest news with #PilgrimsPride
Yahoo
4 days ago
- Business
- Yahoo
The US State That Produces More Chicken Than The Rest Of The Country
Since the early 1990s, chicken has been the most highly eaten meat in the U.S., with over 102 pounds of this poultry eaten per person, per year. It makes sense; it's delicious, versatile, nutritious, relatively inexpensive (especially compared to beef), and it's almost always in stock at your grocery store, with at least seven cuts you should consider buying raw, or you can purchase it already-cooked, rotisserie-style. The U.S. is actually the top producer in the world of chicken meat, at nearly 19,600 kilotons (coming in second and third are Brazil and China, respectively). It begs the question, though — where is all this U.S.-produced chicken coming from? The state that contributes most to the U.S. chicken industry is actually Georgia. Georgia contributes 1.3 billion chickens (known as "broilers" to distinguish them from chickens that are kept for their eggs) to the American poultry market, and the Peach State is home to 1.3 billion of the total 9 billion broilers that are kept in the U.S. Raising and slaughtering broilers make up a huge part of Georgia's economy, generating over $41.5 billion in 2024. Both Perdue Foods and Pilgrim's Pride have processing plants in the state. Read more: Ranking The Top 12 Grocery Store Chains Known For Their Meat Departments Broilers' history in Georgia starts with very humble beginnings, indeed. In the early part of the 20th century, some farmers in the northern part of the state (which is still the more significant producer of chicken meat, geographically, even today) thought to supplement their income by raising chickens specifically for meat sales. By the 1930s, a verifiable industry had sprung up, with as many as half a million chickens raised. Leading the charge was Jesse Jewell, a civil engineer by training, with a flair for entrepreneurship. He took his father's feed business and began to contract with local farmers -- they would grow the chickens, and he would supply the food. Gradually, though, Jewell saw the benefits of managing everything under one roof, and throughout the 1940s, he opened both a hatchery and a processing plant. In addition to creating jobs for laborers, his business also opened the doors for scientists and marketers. The entire broiler industry grew to proportions that those early farmers could likely not have predicted, with nearly 63 million chickens produced in 1950. Then, in 1951, their efforts, and the efforts of all who came after, including Jesse Jewell, officially made Georgia the number one state in the country for chicken meat, a position it has occupied ever since. Growth in Georgia's poultry industry was possible through the foresight of organizations, like the Georgia Poultry Improvement Association (which does business as the Georgia Poultry Laboratory Network, or GPLN) and the U.S. government-formed National Poultry Improvement Plan, founded in 1935, both of which were aimed at aiding farmers and controlling disease among flocks. In 1912, the University of Georgia established its Poultry Science department, training up successive generations of scientists, researchers, and businesspeople. All of the efforts of these organizations contributed to the explosive growth of the broiler industry in Georgia throughout the 20th century, as they allowed flocks to both remain healthy and expand in gargantuan numbers. In the second half of the 20th century, Georgia Tech has also been crucial in advancing the poultry industry in the state, with technological advancements in plant sound reduction, improvement in skimmings (water removal from chicken byproduct), and mechanization of poultry monitoring. Further, in 2022, the USDA announced the opening of a brand new poultry research facility in Athens, Georgia, the largest of its kind, housing state-of-the-art technology to aid scientists and researchers in their ongoing quest to keep chickens disease-free, and to help prevent major safety breaches, like the October 2024 listeria-based recall. Want more food knowledge? Sign up to our free newsletter where we're helping thousands of foodies, like you, become culinary masters, one email at a time. Read the original article on Food Republic.
Yahoo
25-06-2025
- Business
- Yahoo
JBS moves primary listing to US: CFO explains why
Brazilian meatpacking company JBS (JBS) has moved its primary listing to the US to tap into a wider investor base and pursue index inclusion. Guilherme Cavalcanti, JBS CFO, joins Market Domination co-host Julie Hyman at the NSYE to outline the company's growth plans and its message to US investors. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. Indeed, I'm here with uh, Calvacante who is the global CFO of JBS which now has its primary listing here in the United States. Thank you so much for joining us. Thank you. For people who are in the US who might not be familiar with JBS, they're certainly familiar with your products. You're one of the biggest meatpackers in the world. You own an 80% stake in Pilgrim's Pride, the poultry company, mostly poultry company here in the US. What do you hope to achieve with this primary listing, which the company has been working on for quite some time? Yeah, well, first of all, um, the the first thing that we want to achieve is to get uh, an access to a much broader investor base. So basically the the investor base that can invest uh with the SEC as our regulator is like four to five times larger, the whole emerging markets together. So first is to get access to the much broader investor base. And because again, as you mentioned, we are a big global company, we have more than 50% of our sales here in US. The second thing that we want to achieve having our primary listing here because part of that we could achieve the investor base through an ADR program, but the reason for having a primary listing here is that with that and having again a bigger presence here in US, we can also start to apply to be part of the main indexes like Russell, Crispy, Footsie and then one day S&P 500. Yes, aspirations, right? Your CEO told analysts today that you expect sales to rise at an annual pace of about 4 to 6% over the next five years. Where does that growth come from? What does that growth trajectory look like for JBS? Yeah, basically this is what's an exercise, first based on the past. So if you look at our the last 10 years, we'll grow an average of four to six percent or revenue. So it's basically to continue the trajectory. We are also investing around $1 billion per year in growth capex. So this is also part of the reason of this growth. And we are also investing the last years, we invested $3.3 billion since 2019 acquisitions. So also part of these growth will come from acquisitions as well. Well, I was going to I'm glad that you mentioned that because um, I know that you continue to look around. You also spoke to analysts today and you said nothing was on your radar in the short term. Um, why not? And where would you be looking for opportunities? What kind of opportunities are you looking for in acquisition? Okay. So first, we are looking acquisition all over the world. So mainly here in US and Europe in the prepared food segments because we want to downstream our production, get closer to the customer, more value-added brands. So that's one of our priorities. We started in the salmon business in Australia. So we can want to be relevant in salmon as we are in the other proteins. So those are also and then we start just very recently, we bought biggest South American company of eggs. So eggs is another venue of growth. So that's that's a lot of things and again as I mentioned there's nothing on the radar. Given evaluation is still high in terms of multiples and I think we have to be right to buy what I used to say, right asset for the right price. So and that's why so if has an opportunity again at the right price, then we will go for it, but now there's nothing on the radar. I'm curious since you all are so heavily in the beef business and we know there has been increased price sensitivity, at least here in the United States with inflation and really globally as well. Have you seen any demand shifts and changes as a result of those beef prices going higher? No, first, the demand even even with the higher prices, the demand for beef continues to be very strong if you look. Uh, but of course with the higher price, what we're seeing is uh, chicken sales are increasing. So I think last year was a record sales of chicken in US. So there's always this downtrend when the price of beef goes up. But I would say that the demand for all proteins are very strong. And finally, Guilherme, I want to ask you about the the company's recent history a little bit because there have been some scandals in Brazil that you all are moving past at this point. But what is your message to US investors who perhaps are familiar with the company's recent history that you are clear of those kinds of issues? Yeah, first again, this is not recently, uh, lots things happened eight, nine years ago. So I think this is history. Uh, since then, we start a very robust compliance program all over the world, training, so just to make sure that anything like that or that like that will never happen again.
Yahoo
21-06-2025
- Business
- Yahoo
Pilgrim's Pride (PPC) Registers a Bigger Fall Than the Market: Important Facts to Note
Pilgrim's Pride (PPC) closed the most recent trading day at $45.44, moving -1% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.22%. Elsewhere, the Dow gained 0.08%, while the tech-heavy Nasdaq lost 0.51%. Prior to today's trading, shares of the poultry producer had lost 6.69% lagged the Consumer Staples sector's loss of 1.34% and the S&P 500's gain of 0.45%. Market participants will be closely following the financial results of Pilgrim's Pride in its upcoming release. It is anticipated that the company will report an EPS of $1.63, marking a 2.4% fall compared to the same quarter of the previous year. In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.39 per share and a revenue of $0 million, indicating changes of -0.55% and 0%, respectively, from the former year. Investors might also notice recent changes to analyst estimates for Pilgrim's Pride. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability. Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system. The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.37% lower within the past month. As of now, Pilgrim's Pride holds a Zacks Rank of #3 (Hold). With respect to valuation, Pilgrim's Pride is currently being traded at a Forward P/E ratio of 8.52. For comparison, its industry has an average Forward P/E of 12.24, which means Pilgrim's Pride is trading at a discount to the group. The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 171, putting it in the bottom 31% of all 250+ industries. The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Keep in mind to rely on to watch all these stock-impacting metrics, and more, in the succeeding trading sessions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Pilgrim's Pride Corporation (PPC) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Wall Street Journal
04-06-2025
- Business
- Wall Street Journal
Some of Trump's Biggest Inaugural Donors Benefit From Early Government Actions
The biggest contributor to President Trump's inauguration was chicken processor Pilgrim's Pride, which gave $5 million. In April, its Brazilian parent company, JBS, received government approval for a U.S. stock listing that it had long sought. The second largest donor was the cryptocurrency company Ripple, which gave about $4.9 million. In May it reached a settlement with the Securities and Exchange Commission to resolve a long-running lawsuit, sending its coin soaring.
Forbes
01-06-2025
- Business
- Forbes
These 5 Special Dividends Are More Than Meets The Eye
Young businessman working on laptop at home. Most mainstream financial websites are not 'smart enough' to include special dividends. The yields they display reflect plain ol' quarterly or monthly payouts. For most stocks this does not matter. But for a select few 'special payers' this is a costly oversight. One that we can capitalize on as thoughtful contrarians. In a moment we'll discuss five special dividends. The vanilla screens say they pay as little as 3.2% but in reality they dish up to 13.8%! What exactly is a special dividend payment? It is a one-time cash payout, often the result of a massive cash influx from, say, selling off part of the company or having an unusually profitable year. Usually it is a one-shot deal. But it can be a regular thing. Let's consider chicken producer Pilgrim's Pride (PPC), which recently paid a $6.30 per share special dividend. This is a tremendous 12.7% yield. That's amazing for people who held PPC at the time, but given the company's dividend history, it's likely this is it: PPC Dividend PPC is a classic example of a one-time payer. We are looking for exceptions—the one-time payment that happens every year! These are 'regular' special dividends, sometimes called 'supplemental dividends,' that the company pairs with a regular dividend they know they can afford. Example: ABC Inc. pays 25 cents per share quarterly, but at the end of the year, it pays out 50% of its free cash flow as a supplemental dividend. That dividend still might vary—say, $1 in 2023, $1.50 in 2024, and $1.25 in 2025—but it's extra yield on top of what it can afford to pay on the regular. In some cases, these special dividend payers can be quite generous. Let's take these 3.2%-11.3% yielders that actually pay out 9.0%-13.8% once we include their special distributions: Buckle (BKE)Stated Dividend Yield: 3.2%Actual Dividend Yield (With Specials): 9.0% Buckle (BKE) is a mid- to high-end fashion retailer that's primarily known for its jeans, but it also sells all sorts of apparel, activewear, swimwear and accessories. Fashion stocks have always been fickle, but post-COVID, they've been downright counterintuitive. Numerous 'mall retail' stocks found themselves slowly declining in the years preceding the pandemic, only to find new life despite COVID broadly knocking brick-and-mortar retail on its tail. That includes the Buckle, whose top and bottom lines have dipped from their post-COVID highs but are still far better than what the store delivered for years prior to the pandemic. Looking at its regular dividend over the past decade or so, the difference is hard to notice—a couple of small raises in 2021, but that's it. However, that's because Buckle's dividend has long been unlike its fashion retail brethren. The company prefers to pay a modest regular quarterly dividend, then top it up each year with sometimes spectacular special dividends that boost BKE's yield by double, triple, sometimes even more. Naturally, the rub is that, by virtue of offering massive special dividends, the amount of income we collect from Buckle has the potential to shift enormously from one year to the next—even if the specials have been fairly consistent of late, and even if operational results are largely expected to remain steady over the next couple of years. Even the potential for income volatility isn't great for retirement planners, but for more adventurous investors, it's a secret store of upside that most people will typically overlook. Amerisafe (AMSF)Stated Dividend Yield: 3.3%Actual Dividend Yield (With Specials): 9.7% Amerisafe (AMSF) is a relatively unusual insurer that deals in workers' compensation. The company operates in 27 states and deals in 'high-hazard' industries such as construction, trucking and agriculture. Anyone who wants to invest in an industry with consistent profits should sprint away from the insurance space. AMSF is actually relatively stable compared to, say, P&C insurance, where even good operators may occasionally suffer annual losses. But even then, Amerisafe's bottom line is a moving target. Which makes a regular-and-specials program an extremely responsible way to manage the dividend. AMSF pays a modest (but growing!) quarterly dividend that typically yields around 3%. Then every year, usually in December, it will pay a special dividend with whatever profits it can spare. Like with Buckle, this payout usually doubles or triples the amount of income its shareholders collect in a given year. Again, retirees can't plan their budgets around dividends like Amerisafe's. But consider this: AMSF's 2024 special dividend was the company's lowest in roughly a decade, and it still boosted the stock's total yield to nearly 10%. With that level of dividend, we don't need much positive price action to have a great annual return. I'd keep an eye on that bottom line, though. AMSF's profits, which have already slid for a couple years now, are projected to thin this year and next, too. One area of the market that's rife with 'regular' special dividends is the business development company (BDC) community. These companies share a lot in common with real estate investment trusts (REITs): they were both created by Congress, they both exist to allow regular investors to invest in an otherwise difficult-to-reach asset, and they both are required to pay out at least 90% of their taxable income in the form of dividends. But BDCs invest in dozens if not hundreds of small businesses: not exactly a hotbed of stability and reliability. So in the BDC space, we'll frequently see fairly generous regular dividends complemented with specials that take already good yields and make them downright great. Gladstone Investment Corp. (GAIN)Stated Dividend Yield: 6.4%Actual Dividend Yield (With Specials): 14.3% Gladstone Investment Corp. (GAIN) is part of my favorite Wall Street family: the Gladstones! This group of businesses also includes another publicly traded BDC, Gladstone Capital Corp. (GLAD), as well as a pair of publicly traded REITs: Gladstone Land Corp. (LAND) and Gladstone Commercial Corp. (GOOD). GAIN's target portfolio company will generate $4 million to $15 million in annual EBITDA, have a proven business model, stable cash flows and minimal market or technology risk. As far as BDCs go, GAIN has a narrower portfolio than most, at just 25 companies—mostly manufacturing, business services and consumer services firms, but a few consumer product specialists, too. What sticks out most about Gladstone Investment Corp., however, is its willingness to deal in equity. Most BDCs will typically only have 5% to 10% exposure to equity, but GAIN's target mix is 25% equity/75% debt. This is essential to GAIN's 'buyout' strategy. Gladstone Investment typically provides most (if not all) of the debt capital along with a majority of the equity capital. Its debt investments allow it to pay out a still-high regular dividend, but then it also pays out (extremely variable) supplemental payouts when they realize gains on equity investments. To wit, GAIN's regular monthly dividend accounts for 6% worth of yield, but a 54-cent special dividend to be paid in June and a 70-cent distribution last October work out to an additional 8.3% in yield! That said, Gladstone's specials are all over the place. The company paid three in 2022 and five in 2023, but just one in 2024 and (so far) just one in 2025. Nuveen Churchill Direct Lending Corp. (NCDL)Stated Dividend Yield: 11.3%Actual Dividend Yield (With Specials): 13.8% Nuveen Churchill Direct Lending Corp. (NCDL) is among a handful of other BDCs, such as Goldman Sachs BDC (GSBD) and Carlyle Secured Lending (CGBD), that's connected from a big-name asset manager with a sterling reputation. In this case, NCDL is tied to both fund manager Nuveen, as well as its parent TIAA. The fund's external manager—Churchill, a Nuveen affiliate—invests the BDC in senior secured loans to private equity-owned middle market companies in the U.S. The $2.1 billion portfolio is 210 companies strong right now. The vast majority of holdings (91%) are first lien loans, though Nuveen Churchill Direct Lending also deals in second lien debt, subordinated loans and equity co-investment. This is a relatively young BDC that has only been in existence since 2018, and it just went public in 2024. I wrote plenty about the company in a September column, but here, I want to focus on the payout. Nuveen Churchill Direct Lending has come out of the gate with a regular-and-specials format. The regular quarterly dividend has been set at 45 cents per share, and it has so far paid an additional 10-cent special in every quarter since its IPO. That's a strong double-digit yield base with, at least for now, a meaningful 2.5 percentage points in special sweeteners. The special distributions were declared in connection with the IPO, and April's 10-cent payout was the final dividend in that tranche. Indeed, NCDL's streak might stop this summer—based on its previous activity, any special dividends to be paid in July likely would have been announced in April. If nothing else, investors should keep their eye on NCDL over the next few quarters to see whether these specials were a one-off event or something the BDC will come back to following strong financial results. Also, NCDL is young, so it's difficult to tell where its 'normal' valuation range will lie, but for now, the BDC is trading at an 11% discount to NAV. Barings BDC (BBDC)Stated Dividend Yield: 11.3%Actual Dividend Yield (With Specials): 12.9% Barings BDC (BBDC) is the cheapest of these three BDCs, trading at an 18% discount to NAV right now. The Barings name might not mean much to some readers, but longtime BDC investors will surely remember the name 'Triangle Capital.' That's what the company was known as until August 2018, when the company rebranded following years of writing off bad investments and hacking away at its dividend. But it wasn't just a rebrand—it was a new lease on life. Global financial services firm Barings became an external advisor and overhauled BBDC's portfolio. Today, Barings primarily invests in senior secured private debt investments in 'well-established' middle-market companies across numerous industries. Target companies for its sponsor-backed investments (issuers owned by private equity firms), the largest part of its business at 75%-85% exposure generally, generate between $15 million and $75 million in EBITDA annually. It also has smaller exposure to non-PE-owned businesses, as well as a pair of middle market first lien loan originators, Eclipse Business Capital and Rocade Capital. Meanwhile, about 70% of its investments are first lien loans, though it also has exposure to second lien, mezzanine, equity, structured, and joint venture investments. We've booked gains in BBDC twice through our Dividend Swing Trader service, so I frequently have my eye on this one for short- and long-term opportunities alike. So I was pleased to see when Barings made a splash in Q1. After a few years of dividend growth, the company's quarterly dividend had been stuck at 26 cents per share since mid-2023. However, in February, Barings announced it would pay 5-cent special dividends across the first three quarters of 2025 'based on these strong results, our confidence in our portfolio, and the momentum we have seen so far in 2025.' While I'd prefer growth in the 'stickier' regular dividend, this is a welcome development. The company hasn't made 'top-up' specials since 2014 and 2015. If BBDC makes this a lasting habit, its already stellar dividend will become even tastier. I'll be keeping a close eye on the stock over the next couple of quarters to see if it extends this line of specials into the end of 2025 and into 2026. Brett Owens is Chief Investment Strategist for Contrarian Outlook. For more great income ideas, get your free copy his latest special report: How to Live off Huge Monthly Dividends (up to 8.7%) — Practically Forever. Disclosure: none
