Modera Wealth Management LLC Takes Position in The Kraft Heinz Company (NASDAQ:KHC)

Modera Wealth Management LLC acquired a new stake in shares of The Kraft Heinz Company (NASDAQ:KHC) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 5,907 shares of the company’s stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Kraft Heinz by 3.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 74,455 shares of the company’s stock valued at $2,614,000 after purchasing an additional 2,634 shares during the last quarter. Arkadios Wealth Advisors lifted its holdings in shares of Kraft Heinz by 3.2% during the 3rd quarter. Arkadios Wealth Advisors now owns 21,624 shares of the company’s stock valued at $759,000 after purchasing an additional 675 shares during the last quarter. Forsta AP Fonden increased its position in shares of Kraft Heinz by 9.7% in the 3rd quarter. Forsta AP Fonden now owns 284,800 shares of the company’s stock valued at $9,999,000 after acquiring an additional 25,100 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Kraft Heinz by 11.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 349,300 shares of the company’s stock valued at $12,355,000 after acquiring an additional 37,171 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in shares of Kraft Heinz by 0.5% in the 3rd quarter. Louisiana State Employees Retirement System now owns 141,900 shares of the company’s stock valued at $4,982,000 after acquiring an additional 700 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on KHC. Wells Fargo & Company upped their target price on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Stifel Nicolaus downgraded Kraft Heinz from a “buy” rating to a “hold” rating and cut their target price for the company from $40.00 to $38.00 in a research report on Friday, October 25th. Evercore ISI cut their target price on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Barclays increased their price target on Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group began coverage on Kraft Heinz in a research report on Monday, August 12th. They set a “sell” rating and a $34.00 price target on the stock. One research 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $37.58.

Insider Transactions at Kraft Heinz

In other news, insider Cory Onell sold 4,076 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the sale, the insider now directly owns 143,970 shares of the company’s stock, valued at $5,182,920. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.32% of the company’s stock.

Kraft Heinz Trading Down 0.9 %

KHC stock opened at $34.80 on Wednesday. The company’s 50-day simple moving average is $35.27 and its 200-day simple moving average is $34.87. The company has a quick ratio of 0.53, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a 52-week low of $31.08 and a 52-week high of $38.96. The firm has a market cap of $42.26 billion, a P/E ratio of 15.20, a PEG ratio of 3.48 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.05. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The business had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same period in the prior year, the company posted $0.79 EPS. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. As a group, equities analysts forecast 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.