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 Corp. shares valued at $2,815,150 were purchased by Fabio Sandri on Aug 06 ’24. At $43.31 per share, Fabio Sandri acquired 65,000 shares.
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Also, Galvanoni Matthew R purchased 6,500 shares, netting a total of over 281,515 in proceeds.
Before that, Sandri Fabio had sold 65,000 shares from its account. In a trade valued at $2,892,344, the President and CEO traded Pilgrim’s Pride Corp. shares for $44.50 each. Upon closing the transaction, the insider’s holdings decreased to 65,000 shares, worth approximately $12.42 million.
As published in their initiating research note from Argus on June 18, 2024, Pilgrim’s Pride Corp. [PPC] has been a Buy and the price target has been revised to $41. Analysts at Barclays downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in mid April. As of July 13, 2023, BMO Capital Markets has increased its “Market perform” rating to a “an Outperform” for PPC. Earlier on April 28, 2023, BofA Securities upgraded its rating. Their new recommendation was “a Buy” for PPC stock which previously was a “a Neutral”.
Analyzing PPC Stock Performance
During the last five days, there has been a surge of approximately 5.24%. Over the course of the year, Pilgrim’s Pride Corp. shares have jumped approximately 60.59%. Shares of the company reached a 52-week high of $45.48 on 08/06/24 and a 52-week low of $26.52 on 02/07/24. A 50-day SMA is recorded $38.25, while a 200-day SMA reached $32.36. Nevertheless, trading volume fell to 1.25 million shares from 1.15 million shares the previous day.
Support And Resistance Levels for Pilgrim’s Pride Corp. (PPC)
According to the 24-hour chart, there is a support level at 43.91, which, if violated, would cause prices to drop to 43.40. In the upper region, resistance lies at 44.95. The next price resistance is at 45.48. RSI (Relative Strength Index) is 76.77 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.25, which suggests the price will increase in the coming days. Percent R is at 17.18%, indicating bullish price movement. Stochastics%K at holding indicates that the stock is to be held.
