Pilgrim’s Pride Corp’s filing revealed 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 $14.89 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.
A number of analysts have revised their coverage, including BofA Securities’s analysts, who decreased its forecast for the stock in mid August from “a Buy” to “a Neutral”. BMO Capital Markets also remained covering PPC and has decreased its forecast on August 12, 2024 with a “Market perform” recommendation from previously “an Outperform” rating. Argus started covering the stock on June 18, 2024. It rated PPC as “a Buy”.
Price Performance Review of PPC
On Tuesday, Pilgrim’s Pride Corp [NASDAQ:PPC] saw its stock unchanged to $53.27. Over the last five days, the stock has lost -0.95%. Pilgrim’s Pride Corp shares have risen nearly 92.59% since the year began. Nevertheless, the stocks have risen 105.48% over the past one year. While a 52-week high of $55.50 was reached on 11/06/24, a 52-week low of $25.23 was recorded on 02/07/24. SMA at 50 days reached $45.97, while 200 days put it at $38.75.
Levels Of Support And Resistance For PPC Stock
The 24-hour chart illustrates a support level at 52.87, which if violated will result in even more drops to 52.47. On the upside, there is a resistance level at 53.95. A further resistance level may holdings at 54.63. The Relative Strength Index (RSI) on the 14-day chart is 70.24, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.08, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 22.82%. Stochastics %K at 81.62% indicates the stock is a selling.
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 2024-10-31, dropping by -1.69 million shares to a total of 5.46 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 7.15 million shares. There was a decline of -31.0%, which implies that there is a negative sentiment for the stock.
