First Eagle Investment Management LLC decreased its stake in The Kraft Heinz Company (NASDAQ:KHC – Free Report) by 2.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,463,051 shares of the company’s stock after selling 171,642 shares during the period. First Eagle Investment Management LLC owned 0.53% of Kraft Heinz worth $217,417,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in KHC. Price T Rowe Associates Inc. MD increased its holdings in Kraft Heinz by 1,835.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,527,499 shares of the company’s stock worth $794,964,000 after acquiring an additional 18,518,584 shares during the period. BlackRock Inc. increased its holdings in Kraft Heinz by 9.0% during the 2nd quarter. BlackRock Inc. now owns 83,293,412 shares of the company’s stock worth $2,956,916,000 after acquiring an additional 6,870,945 shares during the period. Capital World Investors increased its holdings in Kraft Heinz by 96.5% during the 1st quarter. Capital World Investors now owns 13,312,000 shares of the company’s stock worth $524,360,000 after acquiring an additional 6,537,000 shares during the period. Norges Bank bought a new stake in Kraft Heinz during the 4th quarter worth approximately $252,224,000. Finally, Holocene Advisors LP purchased a new position in Kraft Heinz in the 2nd quarter worth approximately $138,762,000. Institutional investors own 75.39% of the company’s stock.
Insider Activity at Kraft Heinz
In other Kraft Heinz news, CAO Lande Rashida La sold 13,238 shares of Kraft Heinz stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $35.00, for a total value of $463,330.00. Following the completion of the transaction, the chief accounting officer now directly owns 153,494 shares of the company’s stock, valued at $5,372,290. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Kraft Heinz news, Director Miguel Patricio sold 131,500 shares of Kraft Heinz stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $38.02, for a total value of $4,999,630.00. Following the completion of the transaction, the director now directly owns 992,049 shares of the company’s stock, valued at $37,717,702.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lande Rashida La sold 13,238 shares of Kraft Heinz stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $35.00, for a total transaction of $463,330.00. Following the completion of the transaction, the chief accounting officer now directly owns 153,494 shares of the company’s stock, valued at $5,372,290. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the stock. Morgan Stanley cut their price target on shares of Kraft Heinz from $39.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, November 2nd. Evercore ISI raised shares of Kraft Heinz from an “in-line” rating to an “outperform” rating and increased their target price for the company from $40.00 to $42.00 in a report on Monday, December 11th. Piper Sandler increased their target price on shares of Kraft Heinz from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, November 2nd. Bank of America reduced their target price on shares of Kraft Heinz from $48.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, October 17th. Finally, Sanford C. Bernstein raised shares of Kraft Heinz from a “market perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a report on Tuesday, November 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $40.60.
Kraft Heinz Trading Down 0.3 %
Shares of NASDAQ:KHC traded down $0.11 on Friday, hitting $37.65. The company had a trading volume of 5,809,553 shares, compared to its average volume of 7,809,219. The Kraft Heinz Company has a 1 year low of $30.68 and a 1 year high of $41.47. The firm has a market capitalization of $46.18 billion, a price-to-earnings ratio of 15.56, a P/E/G ratio of 2.62 and a beta of 0.65. The firm’s 50-day simple moving average is $36.87 and its two-hundred day simple moving average is $34.74. The company has a quick ratio of 0.52, a current ratio of 1.00 and a debt-to-equity ratio of 0.39.
Kraft Heinz (NASDAQ:KHC – Get Free Report) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.06. Kraft Heinz had a net margin of 11.00% and a return on equity of 7.63%. The company had revenue of $6.57 billion during the quarter, compared to analysts’ expectations of $6.70 billion. During the same period last year, the company posted $0.63 EPS. Kraft Heinz’s revenue was up 1.0% on a year-over-year basis. Equities analysts anticipate that The Kraft Heinz Company will post 2.96 earnings per share for the current fiscal year.
Kraft Heinz Profile
The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.