Pilgrim’s Pride launches $200M stock buyback program
GREELEY — Pilgrim’s Pride Corp. (Nasdaq: PPC) is launching a $200 million stock buyback program “given continued confidence in the growth potential of the business and its strong balance sheet position,” according to documents filed Tuesday with the Securities and Exchange Commission.
This comes after a 2021 in which Pilgrim’s Pride reported $14.8 billion in revenue, a 22% year-over-year increase.
The company also rejected an offer last month by JBS SA, which owns 80% of Pilgrim’s Pride, to purchase its remaining shares.
Pilgrim’s Pride had said in a filing with the U.S. Securities and Exchange Commission that it had rejected a JBS offer of $28.50 per share, “concluding that the offer significantly undervalued the publicly owned shares of PPC.”
GREELEY — Pilgrim’s Pride Corp. (Nasdaq: PPC) is launching a $200 million stock buyback program “given continued confidence in the growth potential of the business and its strong balance sheet position,” according to documents filed Tuesday with the Securities and Exchange Commission.
This comes after a 2021 in which Pilgrim’s Pride reported $14.8 billion in revenue, a 22% year-over-year increase.
The company also rejected an offer last month by JBS SA, which owns 80% of Pilgrim’s Pride, to purchase its remaining shares.
Pilgrim’s Pride had said in a filing with the U.S. Securities and Exchange Commission that it had rejected a JBS offer…
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