Pilgrim's Pride Co. (NASDAQ:PPC - Get Free Report)'s share price rose 4.1% on Monday . The company traded as high as $56.67 and last traded at $56.84. Approximately 512,453 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 1,119,903 shares. The stock had previously closed at $54.62.
Analysts Set New Price Targets
PPC has been the topic of a number of research analyst reports. Santander initiated coverage on Pilgrim's Pride in a report on Wednesday, March 5th. They issued a "neutral" rating on the stock. StockNews.com cut Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 2nd. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Pilgrim's Pride has an average rating of "Hold" and an average price target of $45.50.
Get Our Latest Research Report on PPC
Pilgrim's Pride Stock Performance
The company has a market cap of $11.90 billion, a price-to-earnings ratio of 11.00 and a beta of 0.71. The company has a quick ratio of 1.31, a current ratio of 2.01 and a debt-to-equity ratio of 0.75. The stock has a 50 day simple moving average of $49.66 and a 200 day simple moving average of $48.13.
Pilgrim's Pride Increases Dividend
The firm also recently announced a special dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd will be given a dividend of $6.30 per share. This is a positive change from Pilgrim's Pride's previous special dividend of $2.75.
Institutional Trading of Pilgrim's Pride
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Accredited Wealth Management LLC bought a new stake in Pilgrim's Pride in the fourth quarter valued at about $41,000. Quarry LP increased its holdings in Pilgrim's Pride by 295.8% in the third quarter. Quarry LP now owns 946 shares of the company's stock valued at $44,000 after buying an additional 707 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Pilgrim's Pride in the fourth quarter valued at about $55,000. R Squared Ltd bought a new stake in Pilgrim's Pride in the fourth quarter valued at about $59,000. Finally, Harbor Capital Advisors Inc. increased 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 valued at $61,000 after buying an additional 765 shares during the last quarter. 16.64% of the stock is owned by hedge funds and other institutional investors.
About Pilgrim's Pride
(
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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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