Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Kraft Heinz Co shares valued at $364,552 were sold by La Lande Rashida on May 06 ’24. At $35.95 per share, La Lande Rashida sold 10,140 shares. The insider’s holdings dropped to 158,266 shares worth approximately $5.67 million following the completion of this transaction.
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Also, Onell Cory sold 14,289 shares, netting a total of over 494,717 in proceeds. Following the sale of shares at $34.62 each, the insider now holds 145,680 shares.
Before that, La Lande Rashida had sold 16,209 shares from its account. In a trade valued at $567,573, the Chief Lgl & Corp Affairs Ofcr traded Kraft Heinz Co shares for $35.02 each. Upon closing the transaction, the insider’s holdings decreased to 16,209 shares, worth approximately $5.98 million.
As published in a research note from Piper Sandler on May 22, 2024, Kraft Heinz Co [KHC] has been rated up from a Neutral to an Overweight and the price target has been revised to $42. Analysts at Citigroup started covering the stock with ‘”a Buy”‘ outlook in a report released in early February. As of December 11, 2023, Evercore ISI has increased its “an In-line” rating to a “an Outperform” for KHC. Earlier on November 14, 2023, Bernstein upgraded its rating. Their new recommendation was “an Outperform” for KHC stock which previously was a “a Mkt perform”.
Analyzing KHC Stock Performance
During the last five days, there has been a drop of approximately -0.75%. Over the course of the year, Kraft Heinz Co shares have dropped approximately -3.19%. Shares of the company reached a 52-week high of $38.96 on 04/25/24 and a 52-week low of $33.67 on 02/14/24. A 50-day SMA is recorded $36.56, while a 200-day SMA reached $35.20. Nevertheless, trading volume fell to 5.34 million shares from 6.49 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 35.59, which, if violated, would cause prices to drop to 35.37. In the upper region, resistance lies at 36.14. The next price resistance is at 36.47. RSI (Relative Strength Index) is 43.34 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.04, which suggests the price will decrease in the coming days. Percent R is at 76.92%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
