The Kraft Heinz Company (NASDAQ:KHC) Shares Acquired by MONECO Advisors LLC

MONECO Advisors LLC lifted its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 8.3% in the third quarter, HoldingsChannel reports. The firm owned 16,360 shares of the company’s stock after buying an additional 1,258 shares during the quarter. MONECO Advisors LLC’s holdings in Kraft Heinz were worth $574,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Fortitude Family Office LLC increased its holdings in Kraft Heinz by 249.5% during the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after purchasing an additional 529 shares during the period. New Covenant Trust Company N.A. acquired a new position in shares of Kraft Heinz during the first quarter worth about $27,000. DiNuzzo Private Wealth Inc. increased its stake in shares of 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 buying an additional 797 shares during the period. Asset Dedication LLC raised its holdings in Kraft Heinz by 94.8% in the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after acquiring an additional 476 shares in the last quarter. Finally, Bangor Savings Bank purchased a new position in Kraft Heinz in the third quarter worth approximately $32,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Cory Onell sold 4,076 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the completion of the sale, the insider now owns 143,970 shares in the company, valued at $5,182,920. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.32% of the company’s stock.

Kraft Heinz Stock Down 0.9 %

Kraft Heinz stock opened at $34.80 on Wednesday. The company has a market capitalization 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 debt-to-equity ratio of 0.39, a quick ratio of 0.53 and a current ratio of 1.01. The Kraft Heinz Company has a fifty-two week low of $31.08 and a fifty-two week high of $38.96. The stock has a 50-day simple moving average of $35.27 and a 200-day simple moving average of $34.87.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on KHC shares. Citigroup reduced their price objective on shares of Kraft Heinz from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft dropped their target price on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Evercore ISI decreased their price target on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Stifel Nicolaus downgraded Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price objective for the company from $40.00 to $38.00 in a report on Friday, October 25th. Finally, Bank of America cut their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. One equities research 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. According to MarketBeat, Kraft Heinz currently has an average rating of “Hold” and a consensus price target of $37.58.

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.