Allworth Financial LP Grows Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Allworth Financial LP raised its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 37.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,580 shares of the company’s stock after buying an additional 3,695 shares during the quarter. Allworth Financial LP’s holdings in Kraft Heinz were worth $477,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Norden Group LLC purchased a new position in shares of Kraft Heinz in the 1st quarter valued at approximately $5,312,000. Kovack Advisors Inc. raised its position in shares of Kraft Heinz by 19.4% in the 1st quarter. Kovack Advisors Inc. now owns 8,493 shares of the company’s stock valued at $313,000 after purchasing an additional 1,381 shares during the last quarter. Uncommon Cents Investing LLC raised its position in shares of Kraft Heinz by 2.1% in the 1st quarter. Uncommon Cents Investing LLC now owns 69,400 shares of the company’s stock valued at $2,561,000 after purchasing an additional 1,450 shares during the last quarter. Legacy Wealth Asset Management LLC raised its position in shares of Kraft Heinz by 2.7% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 31,384 shares of the company’s stock valued at $1,158,000 after purchasing an additional 823 shares during the last quarter. Finally, Maryland State Retirement & Pension System raised its position in shares of Kraft Heinz by 2.8% in the 1st quarter. Maryland State Retirement & Pension System now owns 63,048 shares of the company’s stock valued at $2,309,000 after purchasing an additional 1,705 shares during the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Cory Onell sold 4,076 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total value of $146,736.00. Following the completion of the sale, the insider now owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently commented on KHC. The Goldman Sachs Group initiated coverage on shares of Kraft Heinz in a research report on Monday, August 12th. They issued a “sell” rating and a $34.00 price objective for the company. Citigroup reduced their price target on shares of Kraft Heinz from $41.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Stifel Nicolaus lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price target for the stock from $40.00 to $38.00 in a research report on Friday, October 25th. Wells Fargo & Company raised their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Finally, Bank of America reduced their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $37.58.

Kraft Heinz Price Performance

Shares of NASDAQ KHC opened at $34.80 on Wednesday. The firm has a market cap of $42.26 billion, a PE ratio of 15.20, a PEG ratio of 3.48 and a beta of 0.49. The firm has a fifty day moving average of $35.27 and a 200 day moving average of $34.87. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.53 and a current ratio of 1.01. The Kraft Heinz Company has a one year low of $31.08 and a one year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.73 by $0.05. The company had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The firm’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 EPS. As a group, research analysts predict that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Company 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.