Pilgrim’s Pride Co. (NASDAQ:PPC – Get Free Report) fell 5.3% on Wednesday . The stock traded as low as $50.53 and last traded at $50.51. 336,017 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 1,123,987 shares. The stock had previously closed at $53.33.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on PPC. Santander began coverage on Pilgrim’s Pride in a research report on Wednesday, March 5th. They issued a “neutral” rating for the company. StockNews.com downgraded Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 2nd. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $45.50.
Check Out Our Latest Report on Pilgrim’s Pride
Pilgrim’s Pride Price Performance
Pilgrim’s Pride Increases Dividend
The business also recently declared a special dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd will be paid a dividend of $6.30 per share. This is a boost from Pilgrim’s Pride’s previous special dividend of $2.75.
Institutional Investors Weigh In On Pilgrim’s Pride
Large investors have recently modified their holdings of the stock. Accredited Wealth Management LLC purchased a new stake in shares of Pilgrim’s Pride during the fourth quarter worth approximately $41,000. Quarry LP raised its position in Pilgrim’s Pride by 295.8% in the third quarter. Quarry LP now owns 946 shares of the company’s stock worth $44,000 after acquiring an additional 707 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Pilgrim’s Pride in the fourth quarter worth $55,000. R Squared Ltd purchased a new position in Pilgrim’s Pride in the fourth quarter worth $59,000. Finally, Harbor Capital Advisors Inc. raised its position in Pilgrim’s Pride by 132.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,344 shares of the company’s stock worth $61,000 after acquiring an additional 765 shares in the last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.
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.
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