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

Islay Capital Management LLC trimmed its stake in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 43.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,828 shares of the company's stock after selling 13,883 shares during the quarter. Islay Capital Management LLC's holdings in Pilgrim's Pride were worth $809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Vestcor Inc lifted its position in Pilgrim's Pride by 1.1% in the 3rd quarter. Vestcor Inc now owns 19,783 shares of the company's stock worth $911,000 after buying an additional 212 shares in the last quarter. Xponance Inc. boosted its position in Pilgrim's Pride by 3.7% during the fourth quarter. Xponance Inc. now owns 6,307 shares of the company's stock valued at $286,000 after purchasing an additional 225 shares during the last quarter. CIBC Asset Management Inc increased its position in Pilgrim's Pride by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 7,207 shares of the company's stock worth $327,000 after purchasing an additional 371 shares during the last quarter. Amalgamated Bank raised its stake in shares of Pilgrim's Pride by 3.2% during the 4th quarter. Amalgamated Bank now owns 19,033 shares of the company's stock worth $864,000 after purchasing an additional 585 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Pilgrim's Pride by 19.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,642 shares of the company's stock valued at $165,000 after buying an additional 593 shares during the last quarter. 16.64% of the stock is currently owned by institutional investors and hedge funds.

Pilgrim's Pride Stock Performance

PPC traded up $0.73 during trading on Thursday, hitting $51.10. The stock had a trading volume of 408,472 shares, compared to its average volume of 1,102,802. The company has a current ratio of 2.01, a quick ratio of 1.31 and a debt-to-equity ratio of 0.75. Pilgrim's Pride Co. has a 12 month low of $33.67 and a 12 month high of $57.16. The company has a 50 day simple moving average of $51.88 and a 200-day simple moving average of $49.20. The firm has a market cap of $12.12 billion, a PE ratio of 11.19 and a beta of 0.63.

Pilgrim's Pride Increases Dividend

The firm also recently disclosed a special dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be given a dividend of $6.30 per share. The ex-dividend date is Thursday, April 3rd. This is a boost from Pilgrim's Pride's previous special dividend of $2.75.

Wall Street Analyst Weigh In

PPC has been the topic of several recent research reports. StockNews.com lowered shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 2nd. Santander assumed coverage on shares of Pilgrim's Pride in a report on Wednesday, March 5th. They set a "neutral" rating on the stock. Finally, BMO Capital Markets lifted their price objective on shares of Pilgrim's Pride from $47.00 to $48.00 and gave the company a "market perform" rating in a research note on Monday, March 17th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Pilgrim's Pride currently has a consensus rating of "Hold" and a consensus target price of $46.33.

About Pilgrim's Pride

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.