The Kraft Heinz Company (NASDAQ:KHC) Stake Cut by GPS Wealth Strategies Group LLC

GPS Wealth Strategies Group LLC lessened its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 12.6% during the 4th quarter, HoldingsChannel reports. The fund owned 4,230 shares of the company’s stock after selling 609 shares during the period. GPS Wealth Strategies Group LLC’s holdings in Kraft Heinz were worth $130,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Hotchkis & Wiley Capital Management LLC acquired a new position in Kraft Heinz in the 3rd quarter worth about $411,304,000. State Street Corp increased its holdings in Kraft Heinz by 16.7% in the third quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after buying an additional 6,366,732 shares during the last quarter. Geode Capital Management LLC raised its position in Kraft Heinz by 11.3% during the third quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock valued at $669,821,000 after acquiring an additional 1,944,019 shares in the last quarter. Nordea Investment Management AB lifted its stake in Kraft Heinz by 16.3% in the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock valued at $269,906,000 after acquiring an additional 1,238,200 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Kraft Heinz by 1,139.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,273,579 shares of the company’s stock worth $39,112,000 after acquiring an additional 1,170,814 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Wall Street Analysts Forecast Growth

KHC has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and cut their price target for the company from $39.00 to $35.00 in a report on Thursday, October 31st. TD Cowen reduced their price target on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Jefferies Financial Group lowered their price objective on Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. UBS Group reduced their target price on Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Citigroup lowered their price target on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Kraft Heinz currently has a consensus rating of “Hold” and an average price target of $34.07.

Kraft Heinz Stock Performance

NASDAQ KHC opened at $29.28 on Tuesday. The company’s fifty day moving average is $30.41 and its two-hundred day moving average is $33.03. The Kraft Heinz Company has a 52-week low of $28.37 and a 52-week high of $38.96. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. The firm has a market capitalization of $35.40 billion, a price-to-earnings ratio of 26.38, a P/E/G ratio of 3.82 and a beta of 0.47.

Kraft Heinz Profile

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.