Pilgrim’s Pride Co. (NASDAQ:PPC) Given Consensus Recommendation of “Hold” by Brokerages

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

A number of research analysts recently commented on the stock. StockNews.com lowered shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 2nd. Santander started coverage on Pilgrim’s Pride in a research report on Wednesday, March 5th. They issued a “neutral” rating on the stock. Finally, BMO Capital Markets lifted their price target on Pilgrim’s Pride from $47.00 to $48.00 and gave the stock a “market perform” rating in a report on Monday, March 17th.

Hedge Funds Weigh In On Pilgrim’s Pride

A number of hedge funds have recently added to or reduced their stakes in the stock. Accredited Wealth Management LLC acquired a new stake in shares of Pilgrim’s Pride during the 4th quarter worth $41,000. Quarry LP grew its stake in Pilgrim’s Pride by 295.8% during the third quarter. Quarry LP now owns 946 shares of the company’s stock worth $44,000 after buying an additional 707 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Pilgrim’s Pride during the fourth quarter worth about $55,000. R Squared Ltd bought a new position in Pilgrim’s Pride in the 4th quarter valued at about $59,000. Finally, Harbor Capital Advisors Inc. raised its position in shares of Pilgrim’s Pride by 132.1% in the 4th 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 in the last quarter. Institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Trading Up 2.6 %

PPC stock opened at $50.37 on Friday. Pilgrim’s Pride has a one year low of $33.67 and a one year high of $57.16. The stock has a market cap of $11.94 billion, a price-to-earnings ratio of 11.05 and a beta of 0.63. The company has a fifty day moving average price of $51.88 and a two-hundred day moving average price of $49.20. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.01 and a quick ratio of 1.31.

Pilgrim’s Pride Increases Dividend

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

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.