Investors Research Corp increased its holdings in shares of Kraft Heinz Co (NASDAQ:KHC) by 6.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,250 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. Investors Research Corp’s holdings in Kraft Heinz were worth $482,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. World Asset Management Inc boosted its holdings in Kraft Heinz by 7.8% during the third quarter. World Asset Management Inc now owns 46,734 shares of the company’s stock worth $1,306,000 after purchasing an additional 3,393 shares during the last quarter. Cibc Bank USA boosted its holdings in Kraft Heinz by 3.2% during the third quarter. Cibc Bank USA now owns 34,844 shares of the company’s stock worth $973,000 after purchasing an additional 1,065 shares during the last quarter. Allen Capital Group LLC acquired a new position in Kraft Heinz during the third quarter worth $283,000. Centre Asset Management LLC acquired a new position in Kraft Heinz during the third quarter worth $12,790,000. Finally, Sicart Associates LLC boosted its holdings in Kraft Heinz by 82.3% during the third quarter. Sicart Associates LLC now owns 430,940 shares of the company’s stock worth $12,038,000 after purchasing an additional 194,570 shares during the last quarter. Institutional investors and hedge funds own 56.52% of the company’s stock.
In related news, Director Jorge P. Lemann bought 3,496,503 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was bought at an average price of $28.60 per share, for a total transaction of $99,999,985.80. Following the purchase, the director now owns 3,516,449 shares in the company, valued at approximately $100,570,441.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Damme Alexandre Van purchased 250,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were acquired at an average cost of $28.45 per share, for a total transaction of $7,112,500.00. Following the completion of the transaction, the director now owns 8,168 shares of the company’s stock, valued at approximately $232,379.60. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company’s stock.
Several research analysts recently commented on KHC shares. BidaskClub upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. Barclays set a $30.00 target price on shares of Kraft Heinz and gave the stock a “hold” rating in a report on Friday, August 9th. Guggenheim set a $25.00 target price on shares of Kraft Heinz and gave the stock a “sell” rating in a report on Monday, August 26th. UBS Group set a $30.00 target price on shares of Kraft Heinz and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, Morgan Stanley reduced their target price on shares of Kraft Heinz from $32.00 to $29.00 and set an “equal weight” rating for the company in a report on Tuesday, September 3rd. Five investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $35.76.
Shares of NASDAQ KHC traded up $0.64 during mid-day trading on Tuesday, reaching $28.45. 3,649,065 shares of the company were exchanged, compared to its average volume of 5,483,789. The company’s 50-day simple moving average is $27.57 and its 200-day simple moving average is $29.78. The company has a quick ratio of 0.78, a current ratio of 1.18 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $33.68 billion, a P/E ratio of 8.06, a P/E/G ratio of 2.31 and a beta of 0.77. Kraft Heinz Co has a twelve month low of $24.86 and a twelve month high of $58.08.
Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Thursday, August 8th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. The company had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.07 billion. Kraft Heinz had a negative net margin of 43.40% and a positive return on equity of 6.06%. Kraft Heinz’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 EPS. As a group, equities research analysts expect that Kraft Heinz Co will post 2.65 EPS for the current year.
About Kraft Heinz
The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.
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