Kraft Heinz Company $KHC Stock Holdings Boosted by Great Lakes Advisors LLC

Great Lakes Advisors LLC lifted its position in Kraft Heinz Company (NASDAQ:KHC) by 46.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 201,914 shares of the company’s stock after buying an additional 63,995 shares during the period. Great Lakes Advisors LLC’s holdings in Kraft Heinz were worth $5,258,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Kraft Heinz by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 102,435,702 shares of the company’s stock worth $2,644,890,000 after purchasing an additional 454,868 shares in the last quarter. State Street Corp grew its holdings in shares of Kraft Heinz by 1.0% in the 2nd quarter. State Street Corp now owns 46,376,394 shares of the company’s stock worth $1,197,438,000 after acquiring an additional 462,963 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Kraft Heinz by 14.7% during the second quarter. Geode Capital Management LLC now owns 26,446,203 shares of the company’s stock worth $681,663,000 after purchasing an additional 3,392,470 shares during the period. Invesco Ltd. lifted its holdings in shares of Kraft Heinz by 7.1% during the second quarter. Invesco Ltd. now owns 17,584,674 shares of the company’s stock valued at $454,036,000 after purchasing an additional 1,171,262 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Kraft Heinz by 75.1% in the 3rd quarter. Nordea Investment Management AB now owns 13,694,483 shares of the company’s stock valued at $351,263,000 after purchasing an additional 5,873,967 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on KHC shares. Wells Fargo & Company decreased their target price on shares of Kraft Heinz from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. JPMorgan Chase & Co. lowered their price objective on shares of Kraft Heinz from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 21st. BNP Paribas Exane downgraded shares of Kraft Heinz from a “neutral” rating to an “underperform” rating and set a $22.00 target price for the company. in a research report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Kraft Heinz from $27.00 to $26.00 in a report on Thursday, October 30th. Finally, TD Cowen reduced their price objective on Kraft Heinz from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $26.16.

Kraft Heinz Stock Performance

KHC opened at $23.74 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.73 and a current ratio of 1.13. The company has a market cap of $28.10 billion, a PE ratio of -6.36 and a beta of 0.09. The stock has a 50-day moving average of $24.14 and a 200-day moving average of $25.59. Kraft Heinz Company has a 52-week low of $21.99 and a 52-week high of $33.35.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, October 29th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.04. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 17.35%.The firm had revenue of $6.24 billion during the quarter, compared to analyst estimates of $6.27 billion. During the same period in the previous year, the company earned $0.75 EPS. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, equities research analysts forecast that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Miguel Patricio sold 125,000 shares of the firm’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $24.82, for a total value of $3,102,500.00. Following the transaction, the insider directly owned 686,817 shares in the company, valued at approximately $17,046,797.94. This trade represents a 15.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.35% of the company’s stock.

Kraft Heinz Profile

The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. The combination created one of the largest packaged-food companies in the world, built around well-known consumer brands. The merger was supported by major investors and established a multi-national platform for branded food products.

Kraft Heinz develops, manufactures, markets and distributes a broad portfolio of branded packaged foods and condiments.