ProShare Advisors LLC Sells 333,070 Shares of Kraft Heinz Company $KHC

ProShare Advisors LLC reduced its position in shares of Kraft Heinz Company (NASDAQ:KHC) by 18.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,469,183 shares of the company’s stock after selling 333,070 shares during the period. ProShare Advisors LLC owned approximately 0.12% of Kraft Heinz worth $38,258,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. increased its position in Kraft Heinz by 172.4% during the 2nd quarter. Rakuten Securities Inc. now owns 1,245 shares of the company’s stock worth $32,000 after buying an additional 788 shares during the period. Cape Investment Advisory Inc. increased its position in Kraft Heinz by 164.7% during the second quarter. Cape Investment Advisory Inc. now owns 1,297 shares of the company’s stock worth $33,000 after acquiring an additional 807 shares during the period. Sentry Investment Management LLC bought a new position in Kraft Heinz during the third quarter worth about $38,000. Mid American Wealth Advisory Group Inc. acquired a new stake in Kraft Heinz in the 2nd quarter worth about $39,000. Finally, Albion Financial Group UT bought a new stake in Kraft Heinz in the 3rd quarter valued at about $43,000. 78.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Miguel Patricio sold 125,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider owned 686,817 shares of the company’s stock, valued at approximately $17,046,797.94. This represents a 15.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.35% of the company’s stock.

Kraft Heinz Price Performance

Shares of KHC stock opened at $24.58 on Tuesday. The business has a fifty day simple moving average of $24.00 and a 200 day simple moving average of $25.40. The company has a market cap of $29.10 billion, a P/E ratio of -6.59 and a beta of 0.08. The company has a quick ratio of 0.73, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. Kraft Heinz Company has a twelve month low of $21.99 and a twelve month high of $33.35.

Wall Street Analysts Forecast Growth

KHC has been the topic of several recent research reports. Wells Fargo & Company lowered their target price on shares of Kraft Heinz from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. Barclays lowered their price objective on Kraft Heinz from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 30th. HSBC reduced their target price on Kraft Heinz from $29.00 to $27.00 in a report on Thursday, October 30th. The Goldman Sachs Group decreased their price target on Kraft Heinz from $30.00 to $27.00 in a research report on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Kraft Heinz in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price 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.