Pilgrim’s Pride Co. (NASDAQ:PPC) Increases Dividend to $6.30 Per Share

Pilgrim’s Pride Co. (NASDAQ:PPC) announced a special dividend on Friday, March 14th, RTT News reports. Investors of record on Thursday, April 3rd will be paid a dividend of 6.30 per share on Thursday, April 24th. This is a 129.1% increase from Pilgrim’s Pride’s previous special dividend of $2.75.

Pilgrim’s Pride Trading Down 1.6 %

Shares of PPC opened at $50.27 on Friday. The company’s fifty day moving average is $49.60 and its 200 day moving average is $48.11. Pilgrim’s Pride has a fifty-two week low of $32.82 and a fifty-two week high of $57.16. The stock has a market capitalization of $11.92 billion, a PE ratio of 11.02 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.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PPC shares. Santander started coverage on shares of Pilgrim’s Pride in a research report on Wednesday, March 5th. They issued a “neutral” rating on the stock. StockNews.com cut shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 2nd. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $45.50.

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.