Lingohr Asset Management GmbH Buys Shares of 21,652 Kraft Heinz Company $KHC

Lingohr Asset Management GmbH purchased a new stake in shares of Kraft Heinz Company (NASDAQ:KHC) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 21,652 shares of the company’s stock, valued at approximately $564,000.

Other large investors have also recently made changes to their positions in the company. Rakuten Securities Inc. boosted its position in shares of Kraft Heinz by 172.4% during the second quarter. Rakuten Securities Inc. now owns 1,245 shares of the company’s stock worth $32,000 after buying an additional 788 shares during the period. Cape Investment Advisory Inc. boosted its holdings in Kraft Heinz by 164.7% during the 2nd quarter. Cape Investment Advisory Inc. now owns 1,297 shares of the company’s stock valued at $33,000 after acquiring an additional 807 shares during the period. Mid American Wealth Advisory Group Inc. acquired a new position in Kraft Heinz in the 2nd quarter valued at about $39,000. Hilltop National Bank purchased a new stake in Kraft Heinz during the second quarter worth about $41,000. Finally, Albion Financial Group UT acquired a new stake in shares of Kraft Heinz during the third quarter worth about $43,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Stock Performance

Shares of Kraft Heinz stock opened at $23.74 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. Kraft Heinz Company has a 52 week low of $21.99 and a 52 week high of $33.35. The firm’s 50 day moving average is $24.14 and its two-hundred day moving average is $25.59. The firm has a market capitalization of $28.10 billion, a P/E ratio of -6.36 and a beta of 0.09.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, October 29th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. Kraft Heinz had a negative net margin of 17.35% and a positive return on equity of 7.26%. The business had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $6.27 billion. During the same quarter in the prior year, the business posted $0.75 EPS. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. Research analysts forecast that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Insider Activity

In other Kraft Heinz news, insider Miguel Patricio sold 125,000 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $24.82, for a total transaction of $3,102,500.00. Following the transaction, the insider owned 686,817 shares of the company’s stock, valued at approximately $17,046,797.94. This trade represents a 15.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

KHC has been the subject of a number of research reports. The Goldman Sachs Group dropped their price objective on shares of Kraft Heinz from $30.00 to $27.00 in a report on Thursday, October 30th. Wells Fargo & Company cut their price objective on Kraft Heinz from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 30th. UBS Group decreased their target price on Kraft Heinz from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, January 14th. Morgan Stanley cut their price target on Kraft Heinz from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. Finally, HSBC decreased their price objective on Kraft Heinz from $29.00 to $27.00 in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $26.16.

Kraft Heinz Profile

The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. The combination created one of the largest packaged-food companies in the world, built around well-known consumer brands. The merger was supported by major investors and established a multi-national platform for branded food products.

Kraft Heinz develops, manufactures, markets and distributes a broad portfolio of branded packaged foods and condiments.