Pilgrim’s Pride Corporation (NASDAQ:PPC) Declares $2.10 Dividend

Pilgrim’s Pride Corporation (NASDAQ:PPC) declared a dividend on Wednesday, July 30th, NASDAQ Dividends reports. Stockholders of record on Wednesday, August 20th will be given a dividend of 2.10 per share on Wednesday, September 3rd. The ex-dividend date is Wednesday, August 20th.

Pilgrim’s Pride Stock Performance

PPC stock opened at $47.97 on Monday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.88 and a current ratio of 1.63. The stock has a market capitalization of $11.40 billion, a price-to-earnings ratio of 9.24 and a beta of 0.50. Pilgrim’s Pride has a 1 year low of $40.09 and a 1 year high of $57.16. The stock’s fifty day moving average is $46.55 and its two-hundred day moving average is $49.44.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.16. The business had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.62 billion. Pilgrim’s Pride had a net margin of 6.81% and a return on equity of 37.15%. The company’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.67 earnings per share. On average, research analysts predict that Pilgrim’s Pride will post 5.13 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in shares of Pilgrim’s Pride by 59.3% in the 2nd quarter. AQR Capital Management LLC now owns 3,776,178 shares of the company’s stock valued at $169,852,000 after purchasing an additional 1,405,251 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Pilgrim’s Pride by 102.0% in the 4th quarter. Point72 Asset Management L.P. now owns 16,381 shares of the company’s stock valued at $744,000 after purchasing an additional 827,381 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Pilgrim’s Pride by 48.6% in the 2nd quarter. Invesco Ltd. now owns 1,459,203 shares of the company’s stock valued at $65,635,000 after purchasing an additional 477,216 shares in the last quarter. Norges Bank bought a new position in shares of Pilgrim’s Pride in the second quarter valued at about $18,231,000. Finally, Bank of America Corp DE raised its holdings in shares of Pilgrim’s Pride by 22.9% in the second quarter. Bank of America Corp DE now owns 2,171,836 shares of the company’s stock valued at $97,689,000 after buying an additional 404,915 shares during the last quarter. 16.64% of the stock is owned by institutional investors.

About Pilgrim’s Pride

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.