Pilgrim’s Pride (NASDAQ:PPC) Shares Down 5.3% – Should You Sell?

Pilgrim’s Pride Co. (NASDAQ:PPC)’s share price fell 5.3% on Wednesday . The stock traded as low as $50.53 and last traded at $50.51. 336,017 shares were traded 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 Analyst Weigh In

Several research firms have weighed in on PPC. Santander began coverage on Pilgrim’s Pride in a report 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 report on Sunday, March 2nd. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $45.50.

Pilgrim’s Pride Price Performance

The company has a 50-day moving average of $49.66 and a two-hundred day moving average of $48.13. The stock has a market capitalization of $11.77 billion, a PE ratio of 10.88 and a beta of 0.71. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.01 and a quick ratio of 1.31.

Pilgrim’s Pride Increases Dividend

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

Institutional Investors Weigh In On Pilgrim’s Pride

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