Pilgrim’s Pride Corp.’s recent filing unveils that its President and CEO Sandri Fabio unloaded Company’s shares for reported $2.89 million on Aug 06 ’24. In the deal valued at $44.50 per share,65,000 shares were sold. As a result of this transaction, Sandri Fabio now holds 279,565 shares worth roughly $11.59 million.
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Then, Galvanoni Matthew R sold 6,500 shares, generating $281,515 in total proceeds. Upon selling the shares at $43.31, the Chief Financial Officer now owns 51,750 shares.
Before that, Galvanoni Matthew R bought 6,500 shares. Pilgrim’s Pride Corp. shares valued at $281,515 were divested by the Officer at a price of $43.31 per share.
BofA Securities downgraded its Pilgrim’s Pride Corp. [PPC] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including BMO Capital Markets’s analysts, who decreased its forecast for the stock in mid August from “an Outperform” to “a Market perform”. Argus began covering PPC with “Buy” recommendation on June 18, 2024. Barclays revised its rating on April 16, 2024. It rated PPC as “an Equal weight” which previously was an “an Overweight”.
Price Performance Review of PPC
On Tuesday, Pilgrim’s Pride Corp. [NASDAQ:PPC] saw its stock jump 1.02% to $41.47. Over the last five days, the stock has lost -3.67%. Pilgrim’s Pride Corp. shares have risen nearly 49.93% since the year began. Nevertheless, the stocks have risen 67.49% over the past one year. While a 52-week high of $47.44 was reached on 08/30/24, a 52-week low of $22.33 was recorded on 02/07/24. SMA at 50 days reached $42.49, while 200 days put it at $34.87.
Levels Of Support And Resistance For PPC Stock
The 24-hour chart illustrates a support level at 40.94, which if violated will result in even more drops to 40.41. On the upside, there is a resistance level at 42.23. A further resistance level may holdings at 42.99. The Relative Strength Index (RSI) on the 14-day chart is 39.85, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.03, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 81.22%. Stochastics %K at 11.88% indicates the stock is a buying.
How much short interest is there in Pilgrim’s Pride Corp.?
A steep rise in short interest was recorded in Pilgrim’s Pride Corp. stocks on 2024-08-30, growing by 2.01 million shares to a total of 3.41 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-31 was 1.4 million shares. There was a rise of 58.87%, which implies that there is a positive sentiment for the stock.
