NorthRock Partners LLC Cuts Position in Kraft Heinz Company (NASDAQ:KHC)

NorthRock Partners LLC decreased its holdings in Kraft Heinz Company (NASDAQ:KHC) by 3.8% in the 1st quarter, HoldingsChannel reports. The fund owned 239,670 shares of the company’s stock after selling 9,498 shares during the quarter. NorthRock Partners LLC’s holdings in Kraft Heinz were worth $7,293,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of KHC. Klingenstein Fields & Co. LP increased its position in shares of Kraft Heinz by 4.6% in the first quarter. Klingenstein Fields & Co. LP now owns 7,867 shares of the company’s stock valued at $239,000 after buying an additional 344 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC increased its position in shares of Kraft Heinz by 4.0% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 10,009 shares of the company’s stock valued at $307,000 after buying an additional 386 shares in the last quarter. Meeder Advisory Services Inc. boosted its stake in shares of Kraft Heinz by 2.7% during the first quarter. Meeder Advisory Services Inc. now owns 15,091 shares of the company’s stock valued at $459,000 after acquiring an additional 393 shares during the last quarter. Johnson Investment Counsel Inc. boosted its stake in shares of Kraft Heinz by 1.6% during the first quarter. Johnson Investment Counsel Inc. now owns 25,596 shares of the company’s stock valued at $779,000 after acquiring an additional 397 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of Kraft Heinz by 0.6% during the first quarter. Oppenheimer & Co. Inc. now owns 69,058 shares of the company’s stock valued at $2,101,000 after acquiring an additional 397 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Mizuho set a $29.00 price objective on Kraft Heinz and gave the company a “neutral” rating in a research note on Wednesday, May 28th. DZ Bank lowered Kraft Heinz from a “buy” rating to a “hold” rating and set a $31.00 price objective on the stock. in a research note on Friday, May 9th. UBS Group decreased their price objective on Kraft Heinz from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, July 17th. Cfra Research lowered Kraft Heinz from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, April 16th. Finally, Sanford C. Bernstein lowered Kraft Heinz from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $34.00 to $31.00 in a research note on Tuesday, April 22nd. Three research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $30.29.

Kraft Heinz Stock Performance

NASDAQ KHC opened at $28.56 on Wednesday. The firm has a market capitalization of $33.80 billion, a P/E ratio of 13.04, a P/E/G ratio of 3.31 and a beta of 0.25. Kraft Heinz Company has a 1-year low of $25.44 and a 1-year high of $36.53. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.81. The business’s 50-day simple moving average is $26.79 and its 200-day simple moving average is $28.55.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02. The business had revenue of $6 billion for the quarter, compared to analyst estimates of $6.02 billion. Kraft Heinz had a return on equity of 7.37% and a net margin of 10.44%. The company’s revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 EPS. Equities analysts predict that Kraft Heinz Company will post 2.68 EPS for the current year.

Insider Buying and Selling at Kraft Heinz

In other news, Director Elio Leoni Sceti sold 25,000 shares of Kraft Heinz stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $27.91, for a total value of $697,750.00. Following the transaction, the director directly owned 40,000 shares of the company’s stock, valued at $1,116,400. The trade was a 38.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.35% of the stock is owned by corporate insiders.

Kraft Heinz 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.