Hunter Associates Investment Management LLC Buys New Stake in The Kraft Heinz Company (NASDAQ:KHC)

Hunter Associates Investment Management LLC bought a new stake in The Kraft Heinz Company (NASDAQ:KHC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,900 shares of the company’s stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. OLD National Bancorp IN lifted its stake in shares of Kraft Heinz by 1,260.7% during the 4th quarter. OLD National Bancorp IN now owns 243,055 shares of the company’s stock worth $7,464,000 after purchasing an additional 225,192 shares during the period. Milestone Asset Management LLC purchased a new position in shares of Kraft Heinz during the 4th quarter worth $1,004,000. R Squared Ltd purchased a new position in shares of Kraft Heinz during the 4th quarter worth $34,000. Orca Wealth Management LLC purchased a new position in shares of Kraft Heinz during the 4th quarter worth $237,000. Finally, Stonegate Investment Group LLC lifted its stake in shares of Kraft Heinz by 6.5% during the 4th quarter. Stonegate Investment Group LLC now owns 28,232 shares of the company’s stock worth $867,000 after purchasing an additional 1,730 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Down 1.4 %

Shares of NASDAQ KHC opened at $29.84 on Friday. The Kraft Heinz Company has a 12-month low of $28.37 and a 12-month high of $38.96. The company has a market cap of $36.08 billion, a P/E ratio of 26.88, a P/E/G ratio of 3.80 and a beta of 0.48. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average price of $30.45 and a 200 day moving average price of $33.05.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.42 billion. During the same period in the prior year, the firm earned $0.72 EPS. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. Research analysts anticipate that The Kraft Heinz Company will post 3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on KHC shares. Deutsche Bank Aktiengesellschaft lowered Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price target for the stock from $39.00 to $35.00 in a research note on Thursday, October 31st. Jefferies Financial Group reduced their price target on Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a research note on Wednesday. UBS Group dropped their price objective on Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Mizuho dropped their price objective on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, TD Cowen dropped their price objective on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $34.07.

Insider Activity

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the completion of the sale, the executive vice president now directly owns 168,195 shares in the company, valued at $5,626,122.75. This trade represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.32% of the company’s stock.

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.