Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Pilgrim’s Pride Corporation shares valued at $2,675,869 were sold by Sandri Fabio on Jun 06. At $34.42 per share, Sandri Fabio sold 77,741 shares. The insider’s holdings dropped to 293,816 shares worth approximately $8.77 million following the completion of this transaction.
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Also, Sandri Fabio sold 171,000 shares, netting a total of over 4,854,485 in proceeds. Following the sale of shares at $28.39 each, the insider now holds 371,557 shares.
As published in a research note from BMO Capital Markets on March 10, 2022, Pilgrim’s Pride Corporation [PPC] has been rated up from a Market perform to an Outperform and the price target has been revised to $30 from $28. This represents a 0.47% premium over Wednesday’s closing price. As of February 18, 2022, Stephens has increased its “an Equal-weight” rating to a “an Overweight” for PPC. Earlier on February 08, 2021, Stephens upgraded its rating. Their new recommendation was “an Overweight” for PPC stock which previously was a “an Equal-weight”.
Analyzing PPC’s Price Performance
On Wednesday, Pilgrim’s Pride Corporation [NASDAQ: PPC] plunged -0.63% to $29.86. The stock’s lowest price that day was $29.38, but it reached a high of $30.15 in the same session. During the last five days, there has been a surge of approximately 1.19%. Over the course of the year, Pilgrim’s Pride Corporation shares have jumped approximately 5.89%. Shares of the company reached a 52-week high of $34.66 on 06/03/22 and a 52-week low of $20.23 on 03/08/22. A 50-day SMA is recorded $29.61, while a 200-day SMA reached $27.88. Nevertheless, trading volume fell to 1.07 million shares from 0.58 million shares the previous day.
Support And Resistance Levels for Pilgrim’s Pride Corporation (PPC)
According to the 24-hour chart, there is a support level at 29.44, which, if violated, would cause prices to drop to 29.03. In the upper region, resistance lies at 30.21. The next price resistance is at 30.57. RSI (Relative Strength Index) is 46.34 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.27, which suggests the price will decrease in the coming days. Percent R is at 85.79%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Which companies own the most shares of Pilgrim’s Pride Corporation (PPC)?
According to The Vanguard Group, Inc. filings, the company currently owns 5,868,666 shares, which is about 2.44% of the total PPC shares outstanding. The investor’s shares have appreciated by 306,297 from its previous 13-F filing of 5562369.0 shares. With the completion of the buy, BlackRock Fund Advisors’s stake is now worth $123,893,090. Dimensional Fund Advisors LP acquire a 0.02% interest valued at $86.56 million while Empyrean Capital Partners LP 1,491,530 stake. A total of 32,598 shares of Pilgrim’s Pride Corporation by SSgA Funds Management, Inc. during the quarter, and 1,091,669 were bought by Morgan Stanley & Co. LLC. In its current portfolio, Islet Management LP holds 1,170,358 shares valued at $39.0 million.
In terms of Pilgrim’s Pride Corporation share price expectations, FactSet research, analysts set an average price target of $30.75 in the next 12 months, up nearly 3.16% from the previous closing price of $30.05. Analysts anticipate Pilgrim’s Pride Corporation stock to reach $35.00 by 2022, with the lowest price target being $27.00. In spite of this, 8 analysts ranked Pilgrim’s Pride Corporation stock as an Overweight at the end of 2022. On January 06, 2021, BofA Securities assigned a price target of “a Buy” to the stock and upgraded coverage with a $25.