Pilgrim's Pride Co. (NASDAQ:PPC - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $55.30, but opened at $48.23. Pilgrim's Pride shares last traded at $48.75, with a volume of 238,763 shares traded.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the company. Santander began coverage on Pilgrim's Pride in a report on Wednesday, March 5th. They issued a "neutral" rating on the stock. StockNews.com downgraded shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 2nd. Finally, BMO Capital Markets boosted their price objective on 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. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Pilgrim's Pride presently has an average rating of "Hold" and a consensus target price of $46.33.
Read Our Latest Research Report on PPC
Pilgrim's Pride Stock Down 1.3 %
The stock has a market capitalization of $11.58 billion, a price-to-earnings ratio of 10.67 and a beta of 0.63. The business has a 50-day moving average of $51.65 and a 200-day moving average of $49.09. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01.
Pilgrim's Pride Increases Dividend
The business also recently declared a special dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd will be paid a $6.30 dividend. This is an increase from Pilgrim's Pride's previous special dividend of $2.75. The ex-dividend date is Thursday, April 3rd.
Institutional Trading of Pilgrim's Pride
Several institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC boosted its position in shares of Pilgrim's Pride by 3.7% during the third quarter. Janus Henderson Group PLC now owns 21,860 shares of the company's stock worth $1,007,000 after buying an additional 780 shares during the period. Quarry LP boosted 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 acquiring an additional 707 shares during the period. Wellington Management Group LLP grew its position in Pilgrim's Pride by 8.0% in the 3rd quarter. Wellington Management Group LLP now owns 36,083 shares of the company's stock valued at $1,662,000 after acquiring an additional 2,682 shares in the last quarter. Kovitz Investment Group Partners LLC increased its stake in Pilgrim's Pride by 1.0% during the third quarter. Kovitz Investment Group Partners LLC now owns 61,311 shares of the company's stock worth $2,820,000 after purchasing an additional 598 shares during the period. Finally, XTX Topco Ltd lifted its position in shares of Pilgrim's Pride by 128.5% during the third quarter. XTX Topco Ltd now owns 12,751 shares of the company's stock worth $587,000 after purchasing an additional 7,171 shares in the last quarter. Institutional investors and hedge funds own 16.64% of the company's stock.
Pilgrim's Pride Company Profile
(
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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.
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