Pilgrim’s Pride Co. (NASDAQ:PPC) Receives Consensus Recommendation of “Hold” from Analysts

Pilgrim’s Pride Co. (NASDAQ:PPC) has received a consensus rating of “Hold” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $46.33.

PPC has been the subject of several research analyst reports. StockNews.com cut shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 2nd. BMO Capital Markets upped their target price on shares of Pilgrim’s Pride from $47.00 to $48.00 and gave the stock a “market perform” rating in a research note on Monday, March 17th. Finally, Santander assumed coverage on Pilgrim’s Pride in a research note on Wednesday, March 5th. They issued a “neutral” rating on the stock.

Pilgrim’s Pride Trading Down 2.1 %

NASDAQ:PPC opened at $49.97 on Friday. The business’s 50-day simple moving average is $51.58 and its 200-day simple moving average is $48.94. Pilgrim’s Pride has a fifty-two week low of $33.67 and a fifty-two week high of $57.16. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.01 and a quick ratio of 1.31. The stock has a market capitalization of $11.85 billion, a PE ratio of 10.96 and a beta of 0.63.

Pilgrim’s Pride Increases Dividend

The business also recently announced a special dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be issued a dividend of $6.30 per share. The ex-dividend date is Thursday, April 3rd. This is a positive change from Pilgrim’s Pride’s previous special dividend of $2.75.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PPC. Accredited Wealth Management LLC acquired a new position in Pilgrim’s Pride during the fourth quarter worth approximately $41,000. Quarry LP lifted its holdings in Pilgrim’s Pride by 295.8% during the 3rd quarter. Quarry LP now owns 946 shares of the company’s stock valued at $44,000 after purchasing an additional 707 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Pilgrim’s Pride during the fourth quarter worth $55,000. R Squared Ltd acquired a new position in shares of Pilgrim’s Pride in the fourth quarter valued at $59,000. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Pilgrim’s Pride by 132.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 1,344 shares of the company’s stock worth $61,000 after buying an additional 765 shares during the last quarter. 16.64% of the stock is currently owned by institutional investors.

Pilgrim’s Pride Company Profile

Pilgrim’s Pride Corp. engages in the production, processing, marketing, and distribution of fresh, frozen and value-added chicken and pork products to retailers, distributors, and foodservice operators. It operates through the following segments: U.S., U.K. and Europe, and Mexico. The company was founded by Lonnie A.