Kennedy Investment Group Sells 1,093 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Kennedy Investment Group cut its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 3.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 27,830 shares of the company’s stock after selling 1,093 shares during the period. Kennedy Investment Group’s holdings in Kraft Heinz were worth $855,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. MADDEN SECURITIES Corp grew its stake in shares of Kraft Heinz by 2.4% in the 3rd quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock valued at $448,000 after buying an additional 303 shares during the period. Axiom Advisory LLC boosted its stake in shares of Kraft Heinz by 5.2% in the 3rd quarter. Axiom Advisory LLC now owns 6,594 shares of the company’s stock worth $227,000 after buying an additional 327 shares during the last quarter. Trust Co. of Vermont boosted its stake in shares of Kraft Heinz by 3.6% in the 3rd quarter. Trust Co. of Vermont now owns 10,388 shares of the company’s stock worth $365,000 after buying an additional 358 shares during the last quarter. Winch Advisory Services LLC raised its holdings in shares of Kraft Heinz by 20.1% in the 4th quarter. Winch Advisory Services LLC now owns 2,274 shares of the company’s stock worth $70,000 after purchasing an additional 380 shares during the period. Finally, Pinnacle Financial Partners Inc raised its holdings in shares of Kraft Heinz by 4.2% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 9,560 shares of the company’s stock worth $336,000 after purchasing an additional 381 shares during the period. 78.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on KHC shares. Evercore ISI reissued an “in-line” rating and set a $35.00 target price (down previously from $38.00) on shares of Kraft Heinz in a report on Tuesday, January 7th. The Goldman Sachs Group cut their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research report on Thursday, October 31st. Citigroup cut their price target on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company lowered their price objective on shares of Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Finally, UBS Group lowered their price objective on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $34.77.

Insiders Place Their Bets

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the sale, the executive vice president now directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Kraft Heinz Trading Down 2.0 %

NASDAQ:KHC opened at $29.59 on Wednesday. The Kraft Heinz Company has a 12 month low of $28.37 and a 12 month high of $38.96. The company has a 50 day simple moving average of $30.51 and a two-hundred day simple moving average of $33.11. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The company has a market cap of $35.78 billion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 3.45 and a beta of 0.48.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. The company had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. Kraft Heinz’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.72 EPS. Research analysts forecast that The Kraft Heinz Company will post 3 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.