Insider Selling: Kraft Foods Group EVP Unloads 19,733 Shares of Stock (KRFT)
Kraft Foods Group (NASDAQ:KRFT) EVP Thomas F. Corley sold 19,733 shares of the company’s stock on the open market in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $59.56, for a total value of $1,175,297.48. Following the completion of the transaction, the executive vice president now directly owns 30,291 shares of the company’s stock, valued at approximately $1,804,132. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Kraft Foods Group (NASDAQ:KRFT) traded up 0.06% during mid-day trading on Friday, hitting $58.975. The stock had a trading volume of 1,435,594 shares. Kraft Foods Group has a 52-week low of $50.54 and a 52-week high of $60.52. The stock’s 50-day moving average is $57.84 and its 200-day moving average is $55.30. The company has a market cap of $35.108 billion and a price-to-earnings ratio of 12.82.
Kraft Foods Group (NASDAQ:KRFT) last released its earnings data on Thursday, May 1st. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.09. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter in the previous year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. Analysts expect that Kraft Foods Group will post $3.19 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Credit Suisse raised their price target on shares of Kraft Foods Group from $61.00 to $65.00 in a research note on Friday, June 6th. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Kraft Foods Group in a research note on Monday, June 2nd. They now have a $62.00 price target on the stock, up previously from $60.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Kraft Foods Group in a research note on Monday, May 5th. They now have a $59.00 price target on the stock. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $60.88.
Kraft Foods Group, Inc (NASDAQ:KRFT) operates food and beverage businesses in North America.
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