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Monitoring Kraft Heinz Co (KHC) after recent insider movements

Kraft Heinz Co’s filing revealed that its Chief Omnich Sales & AEM Ofcr Onell Cory unloaded Company’s shares for reported $0.49 million on Mar 12 ’24. In the deal valued at $34.62 per share,14,289 shares were sold. As a result of this transaction, Onell Cory now holds 145,680 shares worth roughly $5.63 million.

Then, La Lande Rashida sold 16,209 shares, generating $567,573 in total proceeds. Upon selling the shares at $35.02, the Chief Lgl & Corp Affairs Ofcr now owns 166,954 shares.

Before that, Patricio Miguel sold 131,500 shares. Kraft Heinz Co shares valued at $4,999,025 were divested by the Director at a price of $38.02 per share. As a result of the transaction, Patricio Miguel now holds 992,049 shares, worth roughly $38.34 million.

Citigroup initiated its Kraft Heinz Co [KHC] rating to a Buy in a research note published on February 01, 2024; the price target was $43. A number of analysts have revised their coverage, including Evercore ISI’s analysts, who increased its forecast for the stock in mid December from “an In-line” to “an Outperform”. Bernstein also remained covering KHC and has increased its forecast on November 14, 2023 with a “an Outperform” recommendation from previously “Mkt perform” rating. HSBC Securities started covering the stock on September 22, 2023. It rated KHC as “a Hold”.

Price Performance Review of KHC

On Monday, Kraft Heinz Co [NASDAQ:KHC] saw its stock jump 1.28% to $38.65. Over the last five days, the stock has gained 1.31%. Kraft Heinz Co shares have risen nearly 4.52% since the year began. Nevertheless, the stocks have fallen -2.60% over the past one year. While a 52-week high of $41.47 was reached on 04/25/24, a 52-week low of $30.68 was recorded on 02/14/24. SMA at 50 days reached $36.24, while 200 days put it at $35.17. A total of 6.16 million shares were traded, compared to the trading of 5.34 million shares in the previous session.

Levels Of Support And Resistance For KHC Stock

The 24-hour chart illustrates a support level at 38.32, which if violated will result in even more drops to 37.99. On the upside, there is a resistance level at 38.82. A further resistance level may holdings at 38.99. The Relative Strength Index (RSI) on the 14-day chart is 68.75, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.96, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 10.03%. Stochastics %K at 81.66% indicates the stock is a selling.

The most recent change occurred on September 13, 2023 when TD Cowen began covering the stock and recommended ‘”a Market perform”‘ rating along with a $35 price target.

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