The Industrias Bachoco, S.A. de C.V. (IBA) Downgraded by BidaskClub to Buy

The Industrias Bachoco, S.A. de C.V. (IBA) Downgraded by BidaskClub to Buy

Separately, TheStreet upgraded shares of Industrias Bachoco, S.A. de C.V. from a c+ rating to a b- rating in a research note on Tuesday, April 4th.

BidaskClub lowered shares of Industrias Bachoco, S.A. de C.V. (NYSE:IBA) from a strong-buy rating to a buy rating in a research report released on Tuesday.

Shares of Industrias Bachoco, S.A. de C.V. (IBA) traded down 0.67% during midday trading on Tuesday, reaching $59.20. 343 shares of the company were exchanged. The company has a market capitalization of $2.96 billion, a P/E ratio of 12.49 and a beta of 0.36. Industrias Bachoco, S.A. de C.V. has a 52-week low of $45.32 and a 52-week high of $62.24. The stock has a 50-day moving average price of $58.11 and a 200 day moving average price of $53.37.

The firm also recently declared a special dividend, which was paid on Monday, July 17th. Shareholders of record on Wednesday, July 5th were paid a $0.4173 dividend. The ex-dividend date was Friday, June 30th. This represents a yield of 1.5%. Industrias Bachoco, S.A. de C.V.’s payout ratio is currently 18.72%.

A hedge fund recently raised its stake in Industrias Bachoco, S.A. de C.V. stock. Acadian Asset Management LLC raised its stake in shares of Industrias Bachoco, S.A. de C.V. (NYSE:IBA) by 34.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,724 shares of the company’s stock after buying an additional 10,754 shares during the period. Acadian Asset Management LLC owned about 0.08% of Industrias Bachoco, S.A. de C.V. worth $2,418,000 at the end of the most recent quarter. 3.92% of the stock is currently owned by hedge funds and other institutional investors.

About Industrias Bachoco, S.A. de C.V.

Industrias Bachoco, SAB. de C.V. (Bachoco) is a holding company. The Company owns and manages over 1,000 facilities, organized in approximately 10 production complexes and over 60 distribution centers in Mexico, and a production complex in the United States. Bachoco operates through two segments: poultry and others.

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