Money Concepts Capital Corp Trims Position in The Kraft Heinz Company (NASDAQ:KHC)

Money Concepts Capital Corp cut its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 10.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,542 shares of the company’s stock after selling 1,008 shares during the quarter. Money Concepts Capital Corp’s holdings in Kraft Heinz were worth $262,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. State Street Corp raised its position in Kraft Heinz by 16.7% during the 3rd quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after buying an additional 6,366,732 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Kraft Heinz by 11.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock valued at $669,821,000 after purchasing an additional 1,944,019 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Kraft Heinz during the 3rd quarter valued at approximately $411,304,000. Nordea Investment Management AB increased its holdings in shares of Kraft Heinz by 16.3% during the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock valued at $269,906,000 after purchasing an additional 1,238,200 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Kraft Heinz by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company’s stock valued at $186,350,000 after purchasing an additional 545,504 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Trading Up 1.4 %

Shares of KHC opened at $29.01 on Friday. The Kraft Heinz Company has a 52-week low of $28.31 and a 52-week high of $38.96. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The firm’s fifty day moving average is $30.22 and its two-hundred day moving average is $32.93. The stock has a market cap of $35.08 billion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 3.82 and a beta of 0.47.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KHC. TD Cowen cut their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Barclays cut their target price on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Wells Fargo & Company cut their target price on shares of Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price target for the company from $39.00 to $35.00 in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. dropped their price target on shares of Kraft Heinz from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $34.07.

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.