Pilgrim’s Pride (NASDAQ:PPC) Price Target Raised to $48.00

Pilgrim’s Pride (NASDAQ:PPC) had its price objective hoisted by BMO Capital Markets from $47.00 to $48.00 in a research report released on Monday,Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

A number of other research firms also recently weighed in on PPC. StockNews.com downgraded Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 2nd. Santander began coverage on Pilgrim’s Pride in a research note on Wednesday, March 5th. They issued 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. According to MarketBeat.com, Pilgrim’s Pride presently has a consensus rating of “Hold” and a consensus target price of $46.33.

Pilgrim’s Pride Stock Down 0.0 %

NASDAQ:PPC opened at $49.60 on Monday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01. 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 has a 52-week low of $33.25 and a 52-week high of $57.16. The stock has a 50-day simple moving average of $49.76 and a 200 day simple moving average of $48.22.

Pilgrim’s Pride Increases Dividend

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

Institutional Trading of Pilgrim’s Pride

A number of hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. lifted its holdings in Pilgrim’s Pride by 1,289.4% during the 3rd quarter. Pacer Advisors Inc. now owns 5,225,216 shares of the company’s stock worth $240,621,000 after purchasing an additional 4,849,147 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Pilgrim’s Pride by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 5,113,888 shares of the company’s stock worth $232,119,000 after purchasing an additional 33,965 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Pilgrim’s Pride by 44.1% during the 4th quarter. AQR Capital Management LLC now owns 1,883,708 shares of the company’s stock worth $85,502,000 after purchasing an additional 576,438 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Pilgrim’s Pride by 26.8% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,845,480 shares of the company’s stock worth $83,766,000 after purchasing an additional 389,967 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Pilgrim’s Pride by 15.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,377,236 shares of the company’s stock worth $62,513,000 after purchasing an additional 180,164 shares during the last quarter. 16.64% of the stock is owned by institutional investors and hedge funds.

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.