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

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) declared a dividend on Wednesday, July 30th, NASDAQ Dividends reports. Stockholders 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 Price Performance

Shares of NASDAQ PPC traded down $1.10 during midday trading on Friday, reaching $46.16. 1,512,432 shares of the stock traded hands, compared to its average volume of 1,314,120. Pilgrim's Pride has a one year low of $40.09 and a one year high of $57.16. The stock has a market capitalization of $10.97 billion, a PE ratio of 8.89 and a beta of 0.50. The company's 50 day moving average is $46.71 and its 200 day moving average is $49.41. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.63 and a quick ratio of 0.88.

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 the consensus estimate of $1.54 by $0.16. Pilgrim's Pride had a return on equity of 37.15% and a net margin of 6.81%.The business had revenue of $4.76 billion during the quarter, compared to analysts' expectations of $4.62 billion. During the same period in the prior year, the business earned $1.67 EPS. The business's revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities research analysts anticipate that Pilgrim's Pride will post 5.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group started coverage on Pilgrim's Pride in a research report on Monday, June 23rd. They issued a "neutral" rating and a $50.00 target price on the stock. Wall Street Zen lowered Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $49.00.

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.