Pilgrim's Pride (NASDAQ:PPC) Trading 3.6% Higher - What's Next?

Shares of Pilgrim's Pride Co. (NASDAQ:PPC - Get Free Report) rose 3.6% during trading on Thursday . The stock traded as high as $52.42 and last traded at $52.30. Approximately 438,784 shares changed hands during trading, a decline of 56% from the average daily volume of 998,219 shares. The stock had previously closed at $50.47.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. StockNews.com lowered Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 2nd. BMO Capital Markets raised their price objective on shares of Pilgrim's Pride from $47.00 to $48.00 and gave the company a "market perform" rating in a research report on Monday, March 17th. Finally, Santander began coverage on shares of Pilgrim's Pride in a research report on Wednesday, March 5th. They set a "neutral" rating on the stock. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Pilgrim's Pride currently has a consensus rating of "Hold" and a consensus price target of $46.33.

Pilgrim's Pride Price Performance

The company has a current ratio of 2.01, a quick ratio of 1.31 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $11.97 billion, a P/E ratio of 11.06 and a beta of 0.71. The company has a fifty day simple moving average of $50.12 and a two-hundred day simple moving average of $48.33.

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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.

Institutional Investors Weigh In On Pilgrim's Pride

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

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.