In a recent transaction, Rashida La Lande, Chief Legal and Corporate Affairs Officer at Kraft Heinz Co (NASDAQ:KHC), sold 10,140 shares of the company's stock. The sale was executed at a weighted average price of $35.9519 per share, amounting to a total value of $364,552.
The transaction occurred on May 6, 2024, and was disclosed in a Form 4 filing with the Securities and Exchange Commission. According to the filing details, the stock was sold in multiple trades with prices ranging from $35.95 to $35.961 per share. After this sale, La Lande's remaining direct holdings in Kraft Heinz Co total 158,266 shares, which includes an additional 1,452 shares acquired through a dividend reinvestment program.
The disclosed transaction provides investors with up-to-date information on the trading activities of the company's insiders. These sales can be of interest to current and potential investors as they may reflect the executives' perspectives on the company's current valuation and future prospects.
As is customary, the executive has committed to providing full details regarding the number of shares and the prices at which the transactions were effected, upon request by the SEC staff, the issuer, or a stockholder of the issuer.
Investors and stakeholders in Kraft Heinz Co can continue to monitor such filings to stay informed about insider transactions within the company.
InvestingPro Insights
Following the recent insider trading activity at Kraft Heinz Co (NASDAQ:KHC), investors are closely examining the company's financial metrics and forecasts to better understand its current position and future potential. Kraft Heinz, known for its extensive portfolio of food and beverage products, presents a mix of financial indicators that could influence investment decisions.
According to InvestingPro data, Kraft Heinz boasts a market capitalization of $43.58 billion, reflecting its significant presence in the industry. The company's Price/Earnings (P/E) Ratio stands at 15.6, which is considered low relative to its near-term earnings growth, suggesting that the stock may be undervalued. This is further supported by the adjusted P/E ratio for the last twelve months as of Q1 2024, which is even lower at 12.35. Additionally, the company's Price to Book (P/B) ratio during the same period is 0.88, indicating that the stock may be trading at less than the company's book value.
From a profitability standpoint, Kraft Heinz has been profitable over the last twelve months, with a Gross Profit Margin of 34.29% and an Operating Income Margin of 20.6%. This profitability is a positive sign for investors, especially considering that analysts predict the company will remain profitable this year, an InvestingPro Tip that aligns with the company's recent performance.
For those looking to dive deeper into the financials and forecasts for Kraft Heinz, InvestingPro offers additional insights with more InvestingPro Tips available. Using the coupon code PRONEWS24, investors can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription to access these valuable tips and data points that could help in making more informed investment decisions.
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