F&B Business briefs – Kraft Heinz | Beyond Meat | Nestlé | Tyson Foods (Natural Products Insider)
Kraft Heinz sued for insider trading. Timber Hill, a Connecticut trading firm, has sued Kraft Heinz, its outgoing CEO Bernardo Hees and private-equity firm 3G Capital, alleging insider trading after 3G Capital made $1.2 billion selling “millions of shares months before a $15.4 billion write-down and revelation of a federal investigation sent Kraft Heinz’s stock price plummeting.” The lawsuit was filed in federal court on April 25 and seeks class-action status and Kraft Heinz has thus far declined to comment.
Thursday 5/2 Insider Buying Report: AMRS, BUSE (Nasdaq.com)
On Monday, Amyris (AMRS)’s Director, Frank Kung, made a $4.35M purchase of AMRS, buying 913,529 shares at a cost of $4.76 a piece. Investors are able to snag AMRS even cheaper than Kung did, with the stock changing hands as low as $4.22 in trading on Thursday which is 11.3% under Kung’s purchase price. Amyris is trading up about 4.8% on the day Thursday. And on Tuesday, Director Thomas G. Sloan bought $207,272 worth of First Busey Corp (BUSE), buying 8,000 shares at a cost of $25.91 a piece. First Busey Corp is trading up about 1.2% on the day Thursday. So far Sloan is in the green, up about 1.3% on their buy based on today’s trading high of $26.25.
The COB of Stock Yards Bancorp, Inc. (NASDAQ: SYBT) is Selling Shares (AnalystRatings)
Today, the COB of Stock Yards Bancorp, Inc. (SYBT), David Heintzman, sold shares of SYBT for $150K. Based on Stock Yards Bancorp, Inc.’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $46.09 million and quarterly net profit of $15.64 million. In comparison, last year the company earned revenue of $40.65 million and had a net profit of $13.4 million. SYBT’s market cap is $792.2M and the company has a P/E ratio of 13.83. Currently, Stock Yards Bancorp, Inc. has an average volume of 30.1K.
Insiders Describe Aggressive Growth Tactics at uBiome, the Health Start-up Raided by the FBI Last Week (CNBC)
Company insiders describe how health start-up uBiome routinely billed patients multiple times without consent and pressured on-staff doctors to approve tests with minimal oversight. The start-up, raided by the FBI last week, announces Wednesday that co-CEOs and founders Jessica Richman and Zac Apte are on “administrative leave.” The company has raised $100 million from venture investors.
A Director at TE Connectivity is Exercising Options (Analyst Ratings)
Today it was reported that a Director at TE Connectivity (TEL), Thomas J. Lynch, exercised options to sell 42,239 TEL shares at $61.50 a share, for a total transaction value of $4.02M. Following Thomas J. Lynch’s last TEL Sell transaction on November 30, 2017, the stock climbed by 2.3%. In addition to Thomas J. Lynch, 2 other TEL executives reported Sell trades in the last month.
