Islay Capital Management LLC Sells 13,883 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Islay Capital Management LLC lessened its position in Pilgrim’s Pride Co. (NASDAQ:PPC) by 43.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,828 shares of the company’s stock after selling 13,883 shares during the period. Islay Capital Management LLC’s holdings in Pilgrim’s Pride were worth $809,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Quarry LP increased its holdings in shares of Pilgrim’s Pride by 295.8% during the 3rd quarter. Quarry LP now owns 946 shares of the company’s stock worth $44,000 after acquiring an additional 707 shares during the last quarter. R Squared Ltd acquired a new position in shares of Pilgrim’s Pride in the fourth quarter valued at $59,000. Harbor Capital Advisors Inc. increased its holdings in shares of Pilgrim’s Pride by 132.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,344 shares of the company’s stock valued at $61,000 after purchasing an additional 765 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Pilgrim’s Pride during the 4th quarter worth about $118,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Pilgrim’s Pride by 31.9% during the 4th quarter. GAMMA Investing LLC now owns 2,688 shares of the company’s stock worth $122,000 after buying an additional 650 shares during the period. 16.64% of the stock is currently owned by institutional investors and hedge funds.

Pilgrim’s Pride Stock Performance

Shares of Pilgrim’s Pride stock opened at $49.97 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.31 and a debt-to-equity ratio of 0.75. The company has a market cap of $11.85 billion, a PE ratio of 10.96 and a beta of 0.63. The company has a 50 day moving average of $51.58 and a 200-day moving average of $48.94. Pilgrim’s Pride Co. has a 1-year low of $33.67 and a 1-year high of $57.16.

Pilgrim’s Pride Increases Dividend

The firm also recently declared a special dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd will be paid a $6.30 dividend. This is a positive change from Pilgrim’s Pride’s previous special dividend of $2.75. The ex-dividend date is Thursday, April 3rd.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PPC. BMO Capital Markets lifted their price target on Pilgrim’s Pride from $47.00 to $48.00 and gave the stock a “market perform” rating in a report on Monday, March 17th. StockNews.com downgraded shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 2nd. Finally, Santander initiated coverage on shares of Pilgrim’s Pride in a research note on Wednesday, March 5th. They issued a “neutral” rating for the company. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $46.33.

Pilgrim’s Pride 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.