Pilgrim's Pride (NASDAQ:PPC) Reaches New 1-Year Low - Here's Why

Key Points

• Pilgrim's Pride Corporation's stock hit a new **52-week low**, trading as low as **$40.39** on Wednesday, with a recent trading volume of over **2 million shares**.
• The company's ratings have shifted, with Wall Street Zen downgrading it from a "strong-buy" to a "buy", while analysts maintain an average target price of **$47.50**.
• Pilgrim's Pride recently announced a special dividend of **$2.10 per share**, which was paid to investors of record as of August 20th.

Pilgrim's Pride Corporation (NASDAQ:PPC - Get Free Report) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $40.39 and last traded at $40.64, with a volume of 2038577 shares trading hands. The stock had previously closed at $41.19.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Wall Street Zen cut Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 13th. The Goldman Sachs Group assumed coverage on Pilgrim's Pride in a report on Monday, June 23rd. They issued a "neutral" rating and a $50.00 price target for the company. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $47.50.

Pilgrim's Pride Stock Performance

The stock has a market capitalization of $9.65 billion, a P/E ratio of 7.83 and a beta of 0.50. The stock has a 50 day moving average of $45.83 and a 200 day moving average of $47.97. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.88 and a current ratio of 1.63.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.70 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.62 billion. During the same period in the prior year, the business earned $1.67 EPS. The firm's revenue was up 4.3% on a year-over-year basis. Equities analysts predict that Pilgrim's Pride Corporation will post 5.13 EPS for the current year.

Pilgrim's Pride Announces Dividend

The company also recently announced a special dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were paid a dividend of $2.10 per share. The ex-dividend date of this dividend was Wednesday, August 20th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in Pilgrim's Pride by 59.3% during the second quarter. AQR Capital Management LLC now owns 3,776,178 shares of the company's stock valued at $169,852,000 after buying an additional 1,405,251 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Pilgrim's Pride by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,903,586 shares of the company's stock valued at $158,261,000 after buying an additional 29,549 shares in the last quarter. Bank of America Corp DE boosted its stake in Pilgrim's Pride by 22.9% during the second quarter. Bank of America Corp DE now owns 2,171,836 shares of the company's stock valued at $97,689,000 after buying an additional 404,915 shares in the last quarter. State Street Corp boosted its stake in Pilgrim's Pride by 21.5% during the second quarter. State Street Corp now owns 1,584,740 shares of the company's stock valued at $71,282,000 after buying an additional 280,745 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Pilgrim's Pride by 48.6% during the second quarter. Invesco Ltd. now owns 1,459,203 shares of the company's stock valued at $65,635,000 after buying an additional 477,216 shares in the last quarter. 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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