Plato Investment Management Ltd Purchases 43,073 Shares of Kraft Heinz Company $KHC

Plato Investment Management Ltd boosted its position in Kraft Heinz Company (NASDAQ:KHC) by 227.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,052 shares of the company’s stock after buying an additional 43,073 shares during the quarter. Plato Investment Management Ltd’s holdings in Kraft Heinz were worth $1,604,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. STF Management LP grew its position in shares of Kraft Heinz by 2.1% in the second quarter. STF Management LP now owns 18,475 shares of the company’s stock valued at $477,000 after purchasing an additional 374 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in Kraft Heinz by 15.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 3,219 shares of the company’s stock valued at $84,000 after purchasing an additional 431 shares during the period. Hantz Financial Services Inc. grew its holdings in Kraft Heinz by 13.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,894 shares of the company’s stock valued at $101,000 after buying an additional 460 shares during the last quarter. Barrett & Company Inc. grew its holdings in Kraft Heinz by 22.7% in the 3rd quarter. Barrett & Company Inc. now owns 2,700 shares of the company’s stock valued at $70,000 after buying an additional 500 shares during the last quarter. Finally, Bill Few Associates Inc. lifted its holdings in shares of Kraft Heinz by 0.6% during the second quarter. Bill Few Associates Inc. now owns 88,026 shares of the company’s stock worth $2,273,000 after buying an additional 516 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

Insider Buying and Selling

In other Kraft Heinz news, insider Miguel Patricio sold 125,000 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $24.82, for a total value of $3,102,500.00. Following the sale, the insider directly owned 686,817 shares in the company, valued at $17,046,797.94. This represents a 15.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

Kraft Heinz Stock Performance

NASDAQ:KHC opened at $24.64 on Monday. The company has a quick ratio of 0.73, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $24.02 and a 200 day moving average price of $25.43. The firm has a market capitalization of $29.17 billion, a PE ratio of -6.61 and a beta of 0.08. Kraft Heinz Company has a 12-month low of $21.99 and a 12-month high of $33.35.

Analysts Set New Price Targets

KHC has been the subject of several research reports. Piper Sandler increased their price objective on Kraft Heinz from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Monday, December 15th. Barclays cut their target price on shares of Kraft Heinz from $26.00 to $24.00 and set an “equal weight” rating for the company in a research note on Thursday, October 30th. TD Cowen reduced their target price on shares of Kraft Heinz from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Thursday, October 30th. HSBC cut their price target on Kraft Heinz from $29.00 to $27.00 in a report on Thursday, October 30th. Finally, Wells Fargo & Company decreased their price objective on Kraft Heinz from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $26.16.

About Kraft Heinz

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.