Pilgrim’s Pride (NASDAQ:PPC) Stock Price Down 3.8% – What’s Next?

Pilgrim’s Pride Co. (NASDAQ:PPC)’s stock price fell 3.8% during mid-day trading on Tuesday . The company traded as low as $47.42 and last traded at $47.72. 244,373 shares changed hands during trading, a decline of 79% from the average session volume of 1,188,572 shares. The stock had previously closed at $49.60.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PPC shares. Wall Street Zen cut Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 21st. BMO Capital Markets upped their price target on 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 initiated coverage on shares of Pilgrim’s Pride in a research report on Wednesday, March 5th. They issued a “neutral” rating for the company. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $48.40.

Pilgrim’s Pride Stock Down 2.7%

The company has a 50 day moving average of $50.85 and a 200-day moving average of $50.06. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.01 and a quick ratio of 1.31. The company has a market cap of $11.45 billion, a P/E ratio of 10.59 and a beta of 0.51.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.26 by $0.05. The company had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.53 billion. Pilgrim’s Pride had a return on equity of 32.83% and a net margin of 6.08%. Pilgrim’s Pride’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 earnings per share. On average, equities analysts predict that Pilgrim’s Pride Co. will post 5.13 earnings per share for the current year.

Pilgrim’s Pride Increases Dividend

The business also recently declared a special dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd were issued a $6.30 dividend. This is a positive change from Pilgrim’s Pride’s previous special dividend of $2.75. The ex-dividend date was Thursday, April 3rd.

Institutional Investors Weigh In On Pilgrim’s Pride

Large investors have recently added to or reduced their stakes in the company. Barclays PLC increased its position in shares of Pilgrim’s Pride by 345.6% during the 3rd quarter. Barclays PLC now owns 76,364 shares of the company’s stock valued at $3,516,000 after purchasing an additional 59,228 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in Pilgrim’s Pride in the fourth quarter worth approximately $205,000. Blue Trust Inc. grew its position in Pilgrim’s Pride by 72.5% during the fourth quarter. Blue Trust Inc. now owns 5,516 shares of the company’s stock valued at $254,000 after acquiring an additional 2,319 shares during the last quarter. R Squared Ltd bought a new position in Pilgrim’s Pride during the fourth quarter valued at approximately $59,000. Finally, RHS Financial LLC raised its stake in shares of Pilgrim’s Pride by 21.9% during the fourth quarter. RHS Financial LLC now owns 9,260 shares of the company’s stock worth $420,000 after acquiring an additional 1,661 shares in the last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.

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.