Pilgrim’s Pride (NASDAQ:PPC) Shares Up 3.6% – Time to Buy?

Pilgrim’s Pride Co. (NASDAQ:PPC) traded up 3.6% during trading on Thursday . The company traded as high as $52.42 and last traded at $52.30. 438,784 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 998,219 shares. The stock had previously closed at $50.47.

Analysts Set New Price Targets

Several equities research analysts recently commented on PPC shares. BMO Capital Markets upped their price target 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. StockNews.com cut shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 2nd. Finally, Santander began coverage on Pilgrim’s Pride in a report on Wednesday, March 5th. They issued a “neutral” rating on the stock. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Pilgrim’s Pride has an average rating of “Hold” and a consensus price target of $46.33.

Pilgrim’s Pride Trading Down 5.2 %

The company has a market cap of $11.67 billion, a price-to-earnings ratio of 10.80 and a beta of 0.71. The business’s 50 day moving average price is $50.12 and its 200-day moving average price is $48.30. 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 disclosed a special dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd will be paid a dividend of $6.30 per share. This is a positive change from Pilgrim’s Pride’s previous special dividend of $2.75.

Hedge Funds Weigh In On Pilgrim’s Pride

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its stake in shares of Pilgrim’s Pride by 325.8% in the third quarter. Franklin Resources Inc. now owns 55,071 shares of the company’s stock valued at $2,485,000 after buying an additional 42,136 shares in the last quarter. Ruffer LLP bought a new stake in Pilgrim’s Pride in the fourth quarter valued at about $8,381,000. Illinois Municipal Retirement Fund boosted its holdings in Pilgrim’s Pride by 30.0% during the fourth quarter. Illinois Municipal Retirement Fund now owns 58,289 shares of the company’s stock worth $2,646,000 after buying an additional 13,459 shares during the last quarter. Sigma Planning Corp increased its stake in shares of Pilgrim’s Pride by 73.9% in the 4th quarter. Sigma Planning Corp now owns 28,587 shares of the company’s stock valued at $1,298,000 after acquiring an additional 12,149 shares during the last quarter. Finally, Norden Group LLC raised its position in shares of Pilgrim’s Pride by 61.6% in the 4th quarter. Norden Group LLC now owns 15,211 shares of the company’s stock valued at $690,000 after acquiring an additional 5,798 shares during the period. 16.64% of the stock is currently 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.