Bleakley Financial Group LLC Trims Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Bleakley Financial Group LLC lessened its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 49.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,550 shares of the company’s stock after selling 9,320 shares during the quarter. Bleakley Financial Group LLC’s holdings in Kraft Heinz were worth $293,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Econ Financial Services Corp lifted its position in shares of Kraft Heinz by 111.2% during the 4th quarter. Econ Financial Services Corp now owns 122,813 shares of the company’s stock worth $3,772,000 after buying an additional 64,670 shares during the last quarter. Choreo LLC increased its holdings in shares of Kraft Heinz by 31.0% in the 4th quarter. Choreo LLC now owns 63,353 shares of the company’s stock valued at $1,933,000 after acquiring an additional 15,000 shares during the period. Y.D. More Investments Ltd increased its holdings in shares of Kraft Heinz by 42.9% in the 4th quarter. Y.D. More Investments Ltd now owns 3,992 shares of the company’s stock valued at $123,000 after acquiring an additional 1,198 shares during the period. Old North State Wealth Management LLC increased its holdings in shares of Kraft Heinz by 7.8% in the 4th quarter. Old North State Wealth Management LLC now owns 82,510 shares of the company’s stock valued at $2,535,000 after acquiring an additional 5,972 shares during the period. Finally, E. Ohman J or Asset Management AB increased its holdings in shares of Kraft Heinz by 14.0% in the 4th quarter. E. Ohman J or Asset Management AB now owns 43,200 shares of the company’s stock valued at $1,327,000 after acquiring an additional 5,300 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. cut their target price on shares of Kraft Heinz from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Jefferies Financial Group cut their target price on shares of Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 target price (down from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. The Goldman Sachs Group dropped their price objective on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a research note on Thursday, October 31st. Finally, Barclays dropped their price objective on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $33.36.

Kraft Heinz Price Performance

Kraft Heinz stock opened at $29.58 on Wednesday. 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 50-day simple moving average is $30.06 and its 200 day simple moving average is $32.85. The firm has a market capitalization of $35.77 billion, a PE ratio of 26.65, a P/E/G ratio of 3.74 and a beta of 0.47.

About Kraft Heinz

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.