Ridgewood Investments LLC reduced its position in Kraft Heinz Co (NASDAQ:KHC) by 18.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 7,093 shares of the company’s stock after selling 1,614 shares during the period. Ridgewood Investments LLC’s holdings in Kraft Heinz were worth $228,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hilltop Holdings Inc. acquired a new stake in shares of Kraft Heinz during the second quarter worth $254,000. Resources Management Corp CT ADV acquired a new stake in shares of Kraft Heinz during the third quarter worth $465,000. State Street Corp grew its stake in shares of Kraft Heinz by 3.4% during the third quarter. State Street Corp now owns 29,811,249 shares of the company’s stock worth $832,777,000 after purchasing an additional 979,962 shares during the period. Little House Capital LLC acquired a new stake in shares of Kraft Heinz during the second quarter worth $2,209,000. Finally, National Pension Service grew its stake in shares of Kraft Heinz by 5.5% during the third quarter. National Pension Service now owns 658,630 shares of the company’s stock worth $18,399,000 after purchasing an additional 34,387 shares during the period. 57.09% of the stock is owned by institutional investors.
KHC has been the subject of a number of analyst reports. Barclays set a $32.00 price objective on Kraft Heinz and gave the stock a “hold” rating in a research note on Friday, November 1st. Piper Jaffray Companies set a $33.00 price objective on Kraft Heinz and gave the stock a “hold” rating in a research note on Friday, November 1st. BidaskClub cut Kraft Heinz from a “buy” rating to a “hold” rating in a research note on Tuesday, December 31st. Deutsche Bank initiated coverage on Kraft Heinz in a research note on Wednesday, December 11th. They set a “hold” rating and a $31.00 price objective for the company. Finally, Goldman Sachs Group cut Kraft Heinz from a “neutral” rating to a “sell” rating and set a $29.00 price objective for the company. in a research note on Thursday, November 14th. Five analysts have rated the stock with a sell rating and seventeen have given a hold rating to the company. Kraft Heinz presently has a consensus rating of “Hold” and an average price target of $32.85.
NASDAQ:KHC opened at $31.60 on Thursday. Kraft Heinz Co has a 1 year low of $24.86 and a 1 year high of $48.66. The company has a current ratio of 1.00, a quick ratio of 0.65 and a debt-to-equity ratio of 0.54. The stock has a market cap of $38.75 billion, a price-to-earnings ratio of 8.95, a PEG ratio of 2.06 and a beta of 0.78. The stock has a 50-day moving average price of $31.38 and a two-hundred day moving average price of $29.65.
Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Thursday, October 31st. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.15. Kraft Heinz had a positive return on equity of 6.23% and a negative net margin of 42.85%. The firm had revenue of $6.08 billion during the quarter, compared to analysts’ expectations of $6.13 billion. During the same period in the previous year, the firm earned $0.78 earnings per share. The company’s revenue was down 4.8% on a year-over-year basis. Sell-side analysts forecast that Kraft Heinz Co will post 2.81 earnings per share for the current year.
About Kraft Heinz
The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.
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