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Kraft Heinz exec La Lande Rashida sells $283k in stock

Published 06/04/2024, 04:45 PM
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Kraft Heinz Co (NASDAQ:KHC) executive La Lande Rashida, who serves as the company's Chief Legal and Corporate Affairs Officer, has recently sold shares of the company worth approximately $283,589. The transactions were executed on June 3, 2024, with the sale price of the shares averaging $35.3735. This sale was conducted under a pre-arranged trading plan in accordance with securities regulations.

The shares sold by Rashida were part of a larger set of transactions involving Kraft Heinz stock. According to the SEC filing, the sales occurred in multiple trades with prices ranging from $35.26 to $35.475, indicating a narrow price range for the transactions. The company's filing also notes that the weighted average sale price was reported, and Rashida has agreed to provide full information on the specific prices and number of shares if requested by the SEC, Kraft Heinz, or any stockholder of the issuer.

In addition to the sales, the filing disclosed a transaction related to the withholding of 9,920 shares of common stock valued at $35.37 per share, totaling $350,870. This transaction was associated with tax withholding obligations connected to the vesting of performance share units and restricted stock units. It is a common practice for executives to have shares withheld to cover tax liabilities arising from the vesting of equity awards.

Following these transactions, Rashida's remaining ownership in Kraft Heinz stands at 140,329 shares of common stock. The reported activities provide investors with insights into the executive's stock holdings and financial dealings with the company. Kraft Heinz, headquartered in Pittsburgh, Pennsylvania, is a global food and beverage company known for its portfolio of iconic brands.

InvestingPro Insights

As Kraft Heinz Co (NASDAQ:KHC) navigates the market, recent data from InvestingPro provides a snapshot of the company's financial health and potential investment value. With a market capitalization of $43.31 billion, the company showcases a substantial presence in the industry. It's also trading at a price-to-earnings (P/E) ratio of 15.48, which is particularly intriguing when considering the adjusted P/E ratio for the last twelve months as of Q1 2024 drops to an even more attractive 12.26. This lower P/E ratio suggests that Kraft Heinz may be undervalued relative to its near-term earnings growth, according to InvestingPro Tips.

Moreover, despite a slight decrease in revenue growth of -1.36% over the last twelve months as of Q1 2024, analysts remain optimistic about the company's profitability. This is further supported by the company's solid gross profit margin of 34.29% and an operating income margin of 20.63% for the same period. The dividend yield also stands at an appealing 4.56%, potentially offering a steady income stream for investors. These figures are complemented by an analyst fair value target of $41 and an InvestingPro fair value estimation of $43.41, hinting at a potential upside from the previous close price of $35.1.

Investors interested in deeper insights can explore additional InvestingPro Tips, which include a total of 14 analysts having revised their earnings downwards for the upcoming period, yet with the company expected to maintain profitability this year. For those considering a subscription to InvestingPro for further analysis and tips, use coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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