Private Advisor Group LLC Decreases Stake in The Kraft Heinz Company (NASDAQ:KHC)

Private Advisor Group LLC lessened its stake in The Kraft Heinz Company (NASDAQ:KHC) by 3.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 64,142 shares of the company’s stock after selling 1,974 shares during the quarter. Private Advisor Group LLC’s holdings in Kraft Heinz were worth $2,252,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in KHC. New Covenant Trust Company N.A. purchased a new stake in Kraft Heinz during the first quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. lifted its stake in Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after purchasing an additional 797 shares during the last quarter. Asset Dedication LLC lifted its stake in Kraft Heinz by 94.8% during the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after purchasing an additional 476 shares during the last quarter. Bangor Savings Bank purchased a new stake in Kraft Heinz during the third quarter worth approximately $32,000. Finally, Hantz Financial Services Inc. purchased a new stake in Kraft Heinz during the second quarter worth approximately $34,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Trading Down 0.9 %

NASDAQ:KHC opened at $34.80 on Wednesday. The stock’s 50 day simple moving average is $35.27 and its 200-day simple moving average is $34.87. The Kraft Heinz Company has a 12-month low of $31.08 and a 12-month high of $38.96. The firm has a market cap of $42.26 billion, a P/E ratio of 15.20, a PEG ratio of 3.48 and a beta of 0.49. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The firm had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the prior year, the company posted $0.79 earnings per share. Kraft Heinz’s quarterly revenue was down 3.3% on a year-over-year basis. Equities analysts anticipate that The Kraft Heinz Company will post 3.01 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Citigroup reduced their price objective on Kraft Heinz from $41.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. The Goldman Sachs Group assumed coverage on Kraft Heinz in a research note on Monday, August 12th. They issued a “sell” rating and a $34.00 price objective for the company. Evercore ISI reduced their price objective on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Bank of America reduced their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Finally, Stifel Nicolaus cut Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price objective for the company from $40.00 to $38.00 in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Kraft Heinz has a consensus rating of “Hold” and an average target price of $37.58.

Insider Buying and Selling

In related news, insider Cory Onell sold 4,076 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $36.00, for a total transaction of $146,736.00. Following the transaction, the insider now owns 143,970 shares of the company’s stock, valued at $5,182,920. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.32% of the stock is currently owned by corporate insiders.

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.