DekaBank Deutsche Girozentrale Lowers Position in The Kraft Heinz Company (NASDAQ:KHC)

DekaBank Deutsche Girozentrale lowered its stake in The Kraft Heinz Company (NASDAQ:KHC) by 4.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 450,113 shares of the company’s stock after selling 22,213 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Kraft Heinz were worth $15,884,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Capital World Investors lifted its holdings in shares of Kraft Heinz by 83.4% in the 1st quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock worth $321,388,000 after acquiring an additional 3,961,872 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Kraft Heinz by 47.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock worth $178,379,000 after purchasing an additional 1,778,263 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Kraft Heinz by 346.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,520,006 shares of the company’s stock worth $57,799,000 after buying an additional 1,179,863 shares during the period. Nordea Investment Management AB grew its stake in shares of Kraft Heinz by 56.7% in the first quarter. Nordea Investment Management AB now owns 2,840,148 shares of the company’s stock valued at $104,929,000 after buying an additional 1,027,636 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in Kraft Heinz by 260.8% during the 2nd quarter. Marshall Wace LLP now owns 1,169,657 shares of the company’s stock worth $37,686,000 after acquiring an additional 845,490 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on KHC. Citigroup dropped their target price on Kraft Heinz from $41.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Evercore ISI dropped their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Wells Fargo & Company increased their target price on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Bank of America dropped 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 note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. decreased their target price on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $37.58.

Kraft Heinz Stock Down 0.9 %

Shares of NASDAQ KHC opened at $34.80 on Wednesday. The Kraft Heinz Company has a 1 year low of $31.08 and a 1 year high of $38.96. The company has a market capitalization of $42.26 billion, a price-to-earnings ratio of 15.20, a price-to-earnings-growth ratio of 3.48 and a beta of 0.49. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53. The business has a 50-day moving average of $35.27 and a two-hundred day moving average of $34.87.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. The firm had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.79 earnings per share. On average, analysts forecast that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Insider Activity

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 directly owns 143,970 shares of the company’s stock, valued at $5,182,920. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.32% of the company’s stock.

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.