According to Zacks, “INDUSTRIAS BACHOO began its operations in 1952 in the state of Sonora, Mexico, and has since grown into the country’s undisputed leader in poultry production and one of the wold’s top ten producer. It also produces and distributes eggs, swine and balanced feed. It is a vertically integrated company, with a nationwide distribution network and processing plants operating in conjunction with over 600 facilities located throughout Mexico. “
Several other research analysts have also issued reports on IBA. JPMorgan Chase & Co. upgraded Industrias Bachoco from a neutral rating to an overweight rating in a research report on Tuesday, May 14th. ValuEngine upgraded Industrias Bachoco from a sell rating to a hold rating in a research report on Thursday, April 18th.
The firm also recently announced a semiannual dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 13th were given a dividend of $0.442 per share. This represents a dividend yield of 1.8%. The ex-dividend date was Friday, May 10th. This is a positive change from Industrias Bachoco’s previous semiannual dividend of $0.44. Industrias Bachoco’s payout ratio is 24.64%.
Large investors have recently made changes to their positions in the business. Bank of Montreal Can boosted its position in shares of Industrias Bachoco by 188.1% during the first quarter. Bank of Montreal Can now owns 533 shares of the company’s stock valued at $25,000 after buying an additional 348 shares during the period. Bank of America Corp DE boosted its position in shares of Industrias Bachoco by 15.8% during the fourth quarter. Bank of America Corp DE now owns 2,466 shares of the company’s stock valued at $98,000 after buying an additional 337 shares during the period. Wells Fargo & Company MN purchased a new position in shares of Industrias Bachoco during the first quarter valued at approximately $217,000. Jane Street Group LLC purchased a new position in shares of Industrias Bachoco during the fourth quarter valued at approximately $219,000. Finally, Oxford Asset Management LLP purchased a new position in shares of Industrias Bachoco during the first quarter valued at approximately $307,000. Institutional investors and hedge funds own 3.51% of the company’s stock.
About Industrias Bachoco
Industrias Bachoco, SAB. de C.V., through its subsidiaries, operates as a poultry producer in Mexico and the United States. The company operates in two segment, Poultry and Others It is primarily involved in the breeding, processing, and marketing of chicken, eggs, swine, balanced animal feed, and other meat products.
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