DekaBank Deutsche Girozentrale Trims Holdings in The Kraft Heinz Company (NASDAQ:KHC)

DekaBank Deutsche Girozentrale reduced its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 4.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 450,113 shares of the company’s stock after selling 22,213 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Kraft Heinz were worth $15,884,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. New Covenant Trust Company N.A. purchased a new position in shares of Kraft Heinz during the first quarter worth about $27,000. DiNuzzo Private Wealth Inc. grew its stake in shares of Kraft Heinz by 1,077.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after purchasing an additional 797 shares during the last quarter. Bangor Savings Bank acquired a new position in shares of Kraft Heinz in the third quarter valued at approximately $32,000. Asset Dedication LLC increased its holdings in shares of Kraft Heinz by 94.8% in the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after purchasing an additional 476 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Kraft Heinz by 221.5% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,016 shares of the company’s stock worth $36,000 after purchasing an additional 700 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Kraft Heinz

In related news, insider Cory Onell sold 4,076 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $5,182,920. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on KHC shares. Evercore ISI dropped their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock 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 for the company in a research note on Wednesday, July 31st. Bank of America lowered their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Barclays lifted their target price on shares of 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, Wells Fargo & Company increased their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. One 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $37.58.

Kraft Heinz Trading Down 0.9 %

Shares of Kraft Heinz stock opened at $34.80 on Wednesday. The firm has a market cap of $42.26 billion, a PE ratio of 15.20, a P/E/G ratio of 3.48 and a beta of 0.49. 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 fifty-two week low of $31.08 and a fifty-two week high of $38.96. The business’s fifty day moving average is $35.27 and its two-hundred day moving average is $34.87.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. The firm had revenue of $6.50 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the company earned $0.79 EPS. Analysts anticipate that The Kraft Heinz Company will post 3.01 earnings per share for the current 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.