Pilgrim’s Pride (NASDAQ:PPC – Free Report) had its price objective increased by BMO Capital Markets from $47.00 to $48.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a market perform rating on the stock.
PPC has been the topic of several other research reports. Santander assumed coverage on Pilgrim’s Pride in a research note on Wednesday, March 5th. They issued a “neutral” rating on the stock. StockNews.com lowered Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 2nd. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Pilgrim’s Pride presently has an average rating of “Hold” and a consensus target price of $46.33.
View Our Latest Stock Analysis on PPC
Pilgrim’s Pride Trading Down 0.0 %
Pilgrim’s Pride Increases Dividend
The firm also recently declared a special dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd will be given a dividend of $6.30 per share. This is a positive change from Pilgrim’s Pride’s previous special dividend of $2.75.
Institutional Investors Weigh In On Pilgrim’s Pride
A number of hedge funds have recently modified their holdings of PPC. CIBC Asset Management Inc raised its position in shares of Pilgrim’s Pride by 3.3% during the third quarter. CIBC Asset Management Inc now owns 6,836 shares of the company’s stock worth $315,000 after purchasing an additional 216 shares during the period. Advisors Asset Management Inc. bought a new position in shares of Pilgrim’s Pride during the third quarter worth about $210,000. Moran Wealth Management LLC bought a new position in shares of Pilgrim’s Pride during the third quarter worth about $247,000. Pacer Advisors Inc. grew its holdings in shares of Pilgrim’s Pride by 1,289.4% during the third quarter. Pacer Advisors Inc. now owns 5,225,216 shares of the company’s stock worth $240,621,000 after buying an additional 4,849,147 shares in the last quarter. Finally, Navellier & Associates Inc. bought a new position in shares of Pilgrim’s Pride during the third quarter worth about $737,000. Institutional investors and hedge funds own 16.64% of the company’s stock.
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.
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