The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its stake in The Kraft Heinz Company (NASDAQ:KHC) by 19.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 147,779 shares of the company’s stock after selling 34,910 shares during the quarter. State of Alaska Department of Revenue’s holdings in Kraft Heinz were worth $5,187,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of KHC. Norden Group LLC acquired a new stake in shares of Kraft Heinz in the first quarter valued at $5,312,000. Kovack Advisors Inc. increased its stake in Kraft Heinz by 19.4% during the first quarter. Kovack Advisors Inc. now owns 8,493 shares of the company’s stock worth $313,000 after purchasing an additional 1,381 shares during the period. Uncommon Cents Investing LLC lifted its position in shares of Kraft Heinz by 2.1% during the first quarter. Uncommon Cents Investing LLC now owns 69,400 shares of the company’s stock worth $2,561,000 after purchasing an additional 1,450 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its stake in shares of Kraft Heinz by 2.7% in the first 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 period. Finally, Maryland State Retirement & Pension System grew its holdings in shares of Kraft Heinz by 2.8% in the first 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 in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on KHC shares. 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. Stifel Nicolaus cut Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price objective for the company from $40.00 to $38.00 in a research note on Friday, October 25th. JPMorgan Chase & Co. lowered their target price on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft cut their price target on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, Evercore ISI decreased their price objective on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $37.58.

Insider Activity at Kraft Heinz

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $36.00, for a total transaction of $146,736.00. Following the transaction, the insider now owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is owned by corporate insiders.

Kraft Heinz Stock Performance

Shares of KHC opened at $34.80 on Wednesday. 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 Kraft Heinz Company has a 52-week low of $31.08 and a 52-week high of $38.96. 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 stock has a 50 day moving average price of $35.27 and a 200 day moving average price of $34.87.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter in the prior year, the business posted $0.79 EPS. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. 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.