Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Pilgrim’s Pride Corp shares valued at $2,892,344 were sold by Sandri Fabio on Aug 06 ’24. At $44.50 per share, Sandri Fabio sold 65,000 shares. The insider’s holdings dropped to 279,565 shares worth approximately $12.75 million following the completion of this transaction.
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Also, Galvanoni Matthew R sold 6,500 shares, netting a total of over 281,515 in proceeds. Following the sale of shares at $43.31 each, the insider now holds 51,750 shares.
Before that, Galvanoni Matthew R had added 6,500 shares to its account. In a trade valued at $281,515, the Officer bought Pilgrim’s Pride Corp shares for $43.31 each.
Analysts at BofA Securities downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid August. As of August 12, 2024, BMO Capital Markets has decreased its “an Outperform” rating to a “Market perform” for PPC. Earlier on June 18, 2024, Argus initiated its rating. Their recommendation was “a Buy” for PPC stock.
Analyzing PPC Stock Performance
During the last five days, there has been a drop of approximately -5.27%. Over the course of the year, Pilgrim’s Pride Corp shares have jumped approximately 64.93%. Shares of the company reached a 52-week high of $55.50 on 11/06/24 and a 52-week low of $26.52 on 02/07/24. A 50-day SMA is recorded $49.57, while a 200-day SMA reached $41.81. Nevertheless, trading volume fell to 0.83 million shares from 0.4 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 45.29, which, if violated, would cause prices to drop to 44.96. In the upper region, resistance lies at 46.08. The next price resistance is at 46.54. RSI (Relative Strength Index) is 33.19 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.55, which suggests the price will decrease in the coming days. Percent R is at 96.94%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
