NuWave Investment Management LLC lifted its holdings in Kraft Heinz Co (NASDAQ:KHC) by 31.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,332 shares of the company’s stock after acquiring an additional 3,868 shares during the quarter. NuWave Investment Management LLC’s holdings in Kraft Heinz were worth $452,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Hilltop Holdings Inc. acquired a new stake in Kraft Heinz during the second quarter valued at $254,000. Icon Wealth Partners LLC grew its position in shares of Kraft Heinz by 45.3% in the second quarter. Icon Wealth Partners LLC now owns 7,686 shares of the company’s stock valued at $239,000 after purchasing an additional 2,397 shares during the period. Hi Line Capital Management LLC acquired a new stake in shares of Kraft Heinz in the second quarter valued at about $2,209,000. Cypress Wealth Advisors LLC grew its position in shares of Kraft Heinz by 11.3% in the first quarter. Cypress Wealth Advisors LLC now owns 7,415 shares of the company’s stock valued at $242,000 after purchasing an additional 751 shares during the period. Finally, BB&T Securities LLC grew its position in shares of Kraft Heinz by 14.2% in the second quarter. BB&T Securities LLC now owns 97,417 shares of the company’s stock valued at $3,023,000 after purchasing an additional 12,139 shares during the period. Hedge funds and other institutional investors own 56.47% of the company’s stock.
In related news, Director Jorge P. Lemann acquired 3,496,503 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were acquired at an average cost of $28.60 per share, for a total transaction of $99,999,985.80. Following the acquisition, the director now directly owns 3,516,449 shares in the company, valued at approximately $100,570,441.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Damme Alexandre Van purchased 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was acquired at an average price of $28.45 per share, for a total transaction of $7,112,500.00. Following the acquisition, the director now directly owns 8,168 shares of the company’s stock, valued at approximately $232,379.60. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.
Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.03. The business had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.07 billion. Kraft Heinz had a negative net margin of 43.40% and a positive return on equity of 6.06%. The company’s revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 EPS. Equities research analysts forecast that Kraft Heinz Co will post 2.65 earnings per share for the current fiscal year.
Several brokerages have recently issued reports on KHC. Bank of America set a $32.00 target price on shares of Kraft Heinz and gave the company a “neutral” rating in a research report on Friday, August 9th. Barclays set a $30.00 target price on shares of Kraft Heinz and gave the company a “hold” rating in a research report on Friday, August 9th. Guggenheim set a $25.00 target price on shares of Kraft Heinz and gave the company a “sell” rating in a research report on Monday, August 26th. Wells Fargo & Co reissued a “hold” rating on shares of Kraft Heinz in a research note on Tuesday, September 3rd. Finally, Morgan Stanley dropped their price objective 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. Four analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $36.05.
Kraft Heinz Company Profile
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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