Pilgrim’s Pride (NASDAQ:PPC) Trading 3.6% Higher – Should You Buy?

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

Analyst Ratings Changes

PPC has been the subject of several research analyst reports. StockNews.com cut Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 2nd. BMO Capital Markets raised their price target on 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 assumed coverage on shares of Pilgrim’s Pride in a research report on Wednesday, March 5th. They set a “neutral” rating for the company. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Pilgrim’s Pride has a consensus rating of “Hold” and an average price target of $46.33.

Pilgrim’s Pride Stock Performance

The stock has a market capitalization of $12.32 billion, a price-to-earnings ratio of 11.39 and a beta of 0.71. The firm’s 50 day moving average is $49.93 and its 200-day moving average is $48.26. 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 company 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

Several hedge funds and other institutional investors have recently modified their holdings of the business. Accredited Wealth Management LLC purchased a new stake in Pilgrim’s Pride in the fourth quarter valued at $41,000. Quarry LP increased its position in shares of Pilgrim’s Pride by 295.8% in the 3rd quarter. Quarry LP now owns 946 shares of the company’s stock valued at $44,000 after purchasing an additional 707 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Pilgrim’s Pride in the 4th quarter valued at $55,000. R Squared Ltd purchased a new stake in shares of Pilgrim’s Pride during the 4th quarter worth $59,000. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Pilgrim’s Pride by 132.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 1,344 shares of the company’s stock worth $61,000 after purchasing an additional 765 shares in the last quarter. 16.64% of the stock is owned by hedge funds and other institutional investors.

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.