Pilgrim's Pride Co. (NASDAQ:PPC) Given Consensus Rating of "Hold" by Analysts

Shares of Pilgrim's Pride Co. (NASDAQ:PPC - Get Free Report) have been given a consensus recommendation of "Hold" by the seven brokerages that are presently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $45.50.

PPC has been the topic of several recent analyst reports. StockNews.com downgraded shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 2nd. Santander initiated coverage on shares of Pilgrim's Pride in a report on Wednesday, March 5th. They issued a "neutral" rating on the stock.

Institutional Trading of Pilgrim's Pride

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. raised its stake in shares of Pilgrim's Pride by 1,289.4% in the third quarter. Pacer Advisors Inc. now owns 5,225,216 shares of the company's stock valued at $240,621,000 after acquiring an additional 4,849,147 shares during the period. Vanguard Group Inc. raised its position in Pilgrim's Pride by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 5,113,888 shares of the company's stock worth $232,119,000 after purchasing an additional 33,965 shares during the period. AQR Capital Management LLC lifted its stake in Pilgrim's Pride by 44.1% in the fourth quarter. AQR Capital Management LLC now owns 1,883,708 shares of the company's stock worth $85,502,000 after purchasing an additional 576,438 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Pilgrim's Pride by 26.8% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,845,480 shares of the company's stock valued at $83,766,000 after buying an additional 389,967 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Pilgrim's Pride by 15.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,377,236 shares of the company's stock valued at $62,513,000 after buying an additional 180,164 shares during the last quarter. Hedge funds and other institutional investors own 16.64% of the company's stock.

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Pilgrim's Pride Price Performance

Shares of Pilgrim's Pride stock traded down $0.65 during trading hours on Tuesday, hitting $49.62. The company's stock had a trading volume of 1,474,691 shares, compared to its average volume of 1,169,957. The company has a market cap of $11.77 billion, a PE ratio of 10.88 and a beta of 0.71. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01. The business has a 50 day moving average price of $49.66 and a two-hundred day moving average price of $48.13. Pilgrim's Pride has a 12-month low of $33.25 and a 12-month high of $57.16.

Pilgrim's Pride Increases Dividend

The business also recently announced a special dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd will be issued a $6.30 dividend. This is a boost from Pilgrim's Pride's previous special dividend of $2.75.

About Pilgrim's Pride

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.