Pilgrim’s Pride Co. (NASDAQ:PPC) Receives $45.50 Consensus Price Target from Brokerages

Shares of Pilgrim’s Pride Co. (NASDAQ:PPC) have received a consensus rating of “Hold” from the seven brokerages that are currently covering the company, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $46.33.

A number of research analysts have issued reports on PPC shares. 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. BMO Capital Markets boosted their target price on shares of Pilgrim’s Pride from $47.00 to $48.00 and gave the company a “market perform” rating in a research note on Monday. Finally, Santander started coverage on shares of Pilgrim’s Pride in a research note on Wednesday, March 5th. They set a “neutral” rating for the company.

Institutional Investors Weigh In On Pilgrim’s Pride

Hedge funds have recently made changes to their positions in the company. Accredited Wealth Management LLC purchased a new stake in Pilgrim’s Pride in the 4th quarter worth approximately $41,000. Quarry LP lifted its position in Pilgrim’s Pride by 295.8% in the 3rd 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. purchased a new stake in Pilgrim’s Pride in the 4th quarter worth approximately $55,000. R Squared Ltd purchased a new stake in Pilgrim’s Pride in the 4th quarter worth approximately $59,000. Finally, Harbor Capital Advisors Inc. lifted its position in Pilgrim’s Pride by 132.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,344 shares of the company’s stock worth $61,000 after buying an additional 765 shares in the last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Price Performance

Shares of NASDAQ:PPC opened at $49.60 on Tuesday. The company has a quick ratio of 1.31, a current ratio of 2.01 and a debt-to-equity ratio of 0.75. Pilgrim’s Pride has a fifty-two week low of $33.25 and a fifty-two week high of $57.16. The firm has a 50-day simple moving average of $49.76 and a 200 day simple moving average of $48.22. The company has a market cap of $11.76 billion, a PE ratio of 10.88 and a beta of 0.71.

Pilgrim’s Pride Increases Dividend

The firm also recently announced a special dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be issued a dividend of $6.30 per share. This is a boost from Pilgrim’s Pride’s previous special dividend of $2.75.

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.