Market News

Kraft Heinz Falls after Top Shareholder Offers to Sell Shares

Shares of The Kraft Heinz Company (KHC) fell 2% during the extended trading session on November 17 after the food and beverage company announced that one of its top shareholders was selling 30.6 million shares of its common stock.

Some affiliates of 3G Global Food Holdings LP will be offering 30.6 million KHC shares for sale, with BofA Securities acting as the sole underwriter.

The Kraft Heinz Company will not receive any proceeds from the offering and all the proceeds will go to the selling shareholder.

After offloading the shares, 3G will own 185.3 million shares, or 15.1% of KHC’s shares outstanding.

See Insiders’ Hot Stocks on TipRanks >>

Wall Street’s Take

UBS analyst Sean King recently decreased the price target on Kraft Heinz Company to $40.00 (9.4% upside potential) from $41.00 and reiterated a Hold rating.

Consensus among analysts is a Hold based on 6 Holds. The average Kraft Heinz price target of $39.67 implies upside potential of 8.5% from current levels.

Kraft Heinz scores a 6 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock is likely to perform in line with market expectations.

Related News:
Uber Restarts Shared Rides; Shares Rise 5%
Qualcomm Posts New Long-Term Growth Targets and Guidance
HP Inc. Raises Quarterly Dividend by 28.2%

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More