Pilgrim's Pride Corporation (NASDAQ:PPC) Plans Dividend of $2.10

Key Points

• Pilgrim's Pride Corporation has declared a dividend of $2.10 per share, with shareholders of record on August 20th set to receive it on September 3rd.
• The company reported earnings of $1.70 per share, exceeding analysts' expectations and showcasing a 4.3% increase in quarterly revenue year-over-year.
• Pilgrim's Pride currently has a market capitalization of $11.40 billion and operates in various segments including the U.S., U.K., Europe, and Mexico.

Pilgrim's Pride Corporation (NASDAQ:PPC - Get Free Report) announced a dividend on Wednesday, July 30th, NASDAQ Dividends reports. Investors of record on Wednesday, August 20th will be given a dividend of 2.10 per share on Wednesday, September 3rd. The ex-dividend date of this dividend is Wednesday, August 20th.

Pilgrim's Pride Stock Performance

Shares of NASDAQ:PPC traded down $1.10 on Friday, reaching $46.16. 1,512,484 shares of the company's stock were exchanged, compared to its average volume of 1,340,355. The firm has a market capitalization of $10.97 billion, a price-to-earnings ratio of 8.89 and a beta of 0.50. Pilgrim's Pride has a fifty-two week low of $40.09 and a fifty-two week high of $57.16. The business's 50-day moving average is $46.71 and its two-hundred day moving average is $49.41. The company has a quick ratio of 0.88, a current ratio of 1.63 and a debt-to-equity ratio of 0.83.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.70 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.16. The company had revenue of $4.76 billion for the quarter, compared to analysts' expectations of $4.62 billion. Pilgrim's Pride had a net margin of 6.81% and a return on equity of 37.15%. The firm's revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.67 earnings per share. As a group, equities research analysts forecast that Pilgrim's Pride will post 5.13 EPS for the current year.

Hedge Funds Weigh In On Pilgrim's Pride

A number of institutional investors and hedge funds have recently bought and sold shares of PPC. Brooklyn Investment Group grew its position in Pilgrim's Pride by 309.4% in the 1st quarter. Brooklyn Investment Group now owns 651 shares of the company's stock valued at $35,000 after buying an additional 492 shares in the last quarter. Accredited Wealth Management LLC bought a new position in shares of Pilgrim's Pride during the 4th quarter valued at about $41,000. Quarry LP bought a new position in shares of Pilgrim's Pride during the 1st quarter valued at about $43,000. Ameritas Advisory Services LLC bought a new position in shares of Pilgrim's Pride during the 2nd quarter valued at about $45,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Pilgrim's Pride during the 4th quarter valued at about $55,000. Institutional investors 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.