Mirae Asset Global Investments Co. Ltd. Grows Position in Kraft Heinz Company $KHC

Mirae Asset Global Investments Co. Ltd. boosted its position in Kraft Heinz Company (NASDAQ:KHC) by 6.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 425,741 shares of the company’s stock after acquiring an additional 25,179 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Kraft Heinz were worth $11,086,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. STF Management LP raised its holdings in shares of Kraft Heinz by 2.1% in the 2nd quarter. STF Management LP now owns 18,475 shares of the company’s stock valued at $477,000 after purchasing an additional 374 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in Kraft Heinz by 15.5% in the third quarter. Parkside Financial Bank & Trust now owns 3,219 shares of the company’s stock valued at $84,000 after buying an additional 431 shares during the last quarter. Barrett & Company Inc. increased its holdings in Kraft Heinz by 22.7% in the third quarter. Barrett & Company Inc. now owns 2,700 shares of the company’s stock valued at $70,000 after buying an additional 500 shares during the last quarter. Bill Few Associates Inc. raised its stake in Kraft Heinz by 0.6% in the second quarter. Bill Few Associates Inc. now owns 88,026 shares of the company’s stock valued at $2,273,000 after buying an additional 516 shares in the last quarter. Finally, Silverlake Wealth Management LLC lifted its holdings in Kraft Heinz by 3.4% during the 2nd quarter. Silverlake Wealth Management LLC now owns 16,021 shares of the company’s stock worth $414,000 after buying an additional 530 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Insider Buying and Selling at Kraft Heinz

In related news, insider Miguel Patricio sold 125,000 shares of Kraft Heinz stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $24.82, for a total value of $3,102,500.00. Following the transaction, the insider directly owned 686,817 shares in the company, valued at $17,046,797.94. This trade represents a 15.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

KHC has been the topic of several recent analyst reports. Wells Fargo & Company dropped their price target on shares of Kraft Heinz from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 30th. Jefferies Financial Group lowered their target price on shares of Kraft Heinz from $24.00 to $23.00 and set a “hold” rating for the company in a report on Tuesday, January 20th. JPMorgan Chase & Co. dropped their target price on shares of Kraft Heinz from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 21st. Piper Sandler boosted their price target on shares of Kraft Heinz from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Monday, December 15th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Kraft Heinz in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $26.16.

Kraft Heinz Trading Up 2.6%

NASDAQ KHC opened at $23.74 on Friday. The firm’s fifty day moving average is $24.14 and its two-hundred day moving average is $25.59. Kraft Heinz Company has a one year low of $21.99 and a one year high of $33.35. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.73 and a current ratio of 1.13. The firm has a market cap of $28.10 billion, a PE ratio of -6.36 and a beta of 0.09.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly 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. The firm had revenue of $6.24 billion for the quarter, compared to analysts’ expectations of $6.27 billion. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 17.35%.The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 EPS. Analysts expect that Kraft Heinz Company will post 2.68 earnings per share for the current year.

About Kraft Heinz

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.