Livingston Group Asset Management CO operating as Southport Capital Management Decreases Stock Position in Kraft Heinz Co (NASDAQ:KHC)

Livingston Group Asset Management CO operating as Southport Capital Management trimmed its stake in shares of Kraft Heinz Co (NASDAQ:KHC) by 5.9% in the 4th quarter, HoldingsChannel reports. The firm owned 40,055 shares of the company’s stock after selling 2,531 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Kraft Heinz were worth $1,287,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of KHC. Newport Trust Co raised its holdings in shares of Kraft Heinz by 14,858.7% in the 3rd quarter. Newport Trust Co now owns 4,788,421 shares of the company’s stock valued at $133,765,000 after purchasing an additional 4,756,410 shares in the last quarter. Nuveen Asset Management LLC acquired a new position in shares of Kraft Heinz during the 2nd quarter worth about $81,466,000. BlackRock Inc. boosted its position in shares of Kraft Heinz by 5.1% during the 2nd quarter. BlackRock Inc. now owns 38,743,271 shares of the company’s stock worth $1,202,590,000 after acquiring an additional 1,884,480 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Kraft Heinz by 4,816.6% in the 3rd quarter. Millennium Management LLC now owns 1,336,875 shares of the company’s stock valued at $37,345,000 after acquiring an additional 1,309,684 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Kraft Heinz in the 2nd quarter valued at about $36,909,000. Institutional investors own 57.09% of the company’s stock.

A number of research firms have recently commented on KHC. BidaskClub downgraded Kraft Heinz from a “buy” rating to a “hold” rating in a report on Tuesday, December 31st. Goldman Sachs Group downgraded Kraft Heinz from a “neutral” rating to a “sell” rating and set a $29.00 price objective on the stock. in a report on Thursday, November 14th. Zacks Investment Research downgraded Kraft Heinz from a “hold” rating to a “sell” rating and set a $30.00 price objective on the stock. in a report on Tuesday, October 22nd. BMO Capital Markets increased their price objective on Kraft Heinz to $37.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Finally, Barclays set a $32.00 price objective on Kraft Heinz and gave the company a “hold” rating in a report on Friday, November 1st. Five analysts have rated the stock with a sell rating and seventeen have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $32.85.

KHC traded up $0.19 during trading on Thursday, hitting $31.79. 112,165 shares of the stock were exchanged, compared to its average volume of 5,322,186. The firm has a market capitalization of $38.59 billion, a P/E ratio of 9.01, a PEG ratio of 2.06 and a beta of 0.78. Kraft Heinz Co has a 1-year low of $24.86 and a 1-year high of $48.66. The stock has a fifty day moving average price of $31.38 and a two-hundred day moving average price of $29.65. The company has a quick ratio of 0.65, a current ratio of 1.00 and a debt-to-equity ratio of 0.54.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.15. The business had revenue of $6.08 billion during the quarter, compared to the consensus estimate of $6.13 billion. Kraft Heinz had a positive return on equity of 6.23% and a negative net margin of 42.85%. The company’s revenue was down 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 earnings per share. Analysts predict that Kraft Heinz Co will post 2.81 EPS for the current year.

Kraft Heinz Company Profile

The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.

See Also: Diluted Earnings Per Share

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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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