Pilgrim’s Pride Co. (NASDAQ:PPC) Plans Dividend Increase – $6.30 Per Share

Pilgrim’s Pride Co. (NASDAQ:PPC) declared a special dividend on Thursday, March 13th, RTT News reports. Shareholders of record on Thursday, April 3rd will be paid a dividend of 6.30 per share on Thursday, April 24th. The ex-dividend date of this dividend is Thursday, April 3rd. This is a 129.1% increase from Pilgrim’s Pride’s previous special dividend of $2.75.

Pilgrim’s Pride Stock Performance

Shares of PPC opened at $54.51 on Tuesday. The firm has a fifty day moving average of $50.97 and a 200-day moving average of $48.71. Pilgrim’s Pride has a 1 year low of $33.67 and a 1 year high of $57.16. The company has a market cap of $12.93 billion, a price-to-earnings ratio of 11.95 and a beta of 0.71. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PPC shares. Santander assumed coverage on shares of Pilgrim’s Pride in a research report on Wednesday, March 5th. They issued a “neutral” rating for the company. StockNews.com cut Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 2nd. Finally, BMO Capital Markets boosted their price target on shares of Pilgrim’s Pride from $47.00 to $48.00 and gave the company a “market perform” rating in a report on Monday, March 17th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $46.33.

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.