Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Kraft Heinz Co shares valued at $494,717 were sold by Onell Cory on Mar 12 ’24. At $34.62 per share, Onell Cory sold 14,289 shares. The insider’s holdings dropped to 145,680 shares worth approximately $5.33 million following the completion of this transaction.
Also, La Lande Rashida sold 16,209 shares, netting a total of over 567,573 in proceeds. Following the sale of shares at $35.02 each, the insider now holds 166,954 shares.
Before that, Patricio Miguel had sold 131,500 shares from its account. In a trade valued at $4,999,025, the Director traded Kraft Heinz Co shares for $38.02 each. Upon closing the transaction, the insider’s holdings decreased to 131,500 shares, worth approximately $36.29 million.
As published in their initiating research note from Citigroup on February 01, 2024, Kraft Heinz Co [KHC] has been a Buy and the price target has been revised to $43. Analysts at Evercore ISI upgraded the stock from ‘”an In-line”‘ to ‘”an Outperform”‘ outlook in a report released in mid December. As of November 14, 2023, Bernstein has increased its “Mkt perform” rating to a “an Outperform” for KHC. Earlier on September 22, 2023, HSBC Securities initiated its rating. Their recommendation was “a Hold” for KHC stock.
Analyzing KHC Stock Performance
During the last five days, there has been a drop of approximately -1.80%. Over the course of the year, Kraft Heinz Co shares have dropped approximately -1.08%. Shares of the company reached a 52-week high of $38.61 on 01/09/24 and a 52-week low of $33.67 on 02/14/24. A 50-day SMA is recorded $35.98, while a 200-day SMA reached $35.05. Nevertheless, trading volume fell to 5.78 million shares from 5.54 million shares the previous day.
Support And Resistance Levels for Kraft Heinz Co (KHC)
According to the 24-hour chart, there is a support level at 36.26, which, if violated, would cause prices to drop to 35.94. In the upper region, resistance lies at 36.98. The next price resistance is at 37.38. RSI (Relative Strength Index) is 53.93 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.03, which suggests the price will decrease in the coming days. Percent R is at 52.46%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Kraft Heinz Co subject to short interest?
Stocks of Kraft Heinz Co saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.35 million shares to 20.99 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 20.64 million shares. A jump of 1.67% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.57 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.57.
