Sterling Capital Management LLC Has $987,000 Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

Sterling Capital Management LLC decreased its position in Pilgrim’s Pride Co. (NASDAQ:PPC) by 36.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 21,753 shares of the company’s stock after selling 12,742 shares during the period. Sterling Capital Management LLC’s holdings in Pilgrim’s Pride were worth $987,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of PPC. R Squared Ltd acquired a new stake in shares of Pilgrim’s Pride in the fourth quarter valued at approximately $59,000. Harbor Capital Advisors Inc. lifted its position in Pilgrim’s Pride by 132.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 1,344 shares of the company’s stock worth $61,000 after buying an additional 765 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Pilgrim’s Pride during the 4th quarter worth about $118,000. GAMMA Investing LLC grew its holdings in shares of Pilgrim’s Pride by 31.9% in the 4th quarter. GAMMA Investing LLC now owns 2,688 shares of the company’s stock valued at $122,000 after acquiring an additional 650 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Pilgrim’s Pride in the third quarter valued at about $141,000. Institutional investors and hedge funds own 16.64% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on PPC. StockNews.com downgraded Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 2nd. Santander initiated coverage on shares of Pilgrim’s Pride in a research 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 report on Monday, March 17th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $46.33.

Pilgrim’s Pride Price Performance

NASDAQ:PPC opened at $53.29 on Wednesday. The firm’s fifty day moving average price is $52.26 and its two-hundred day moving average price is $49.46. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.01 and a quick ratio of 1.31. The company has a market cap of $12.65 billion, a P/E ratio of 11.69 and a beta of 0.63. Pilgrim’s Pride Co. has a one year low of $33.67 and a one year high of $57.16.

Pilgrim’s Pride Increases Dividend

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

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.