MONECO Advisors LLC Raises Stake in The Kraft Heinz Company (NASDAQ:KHC)

MONECO Advisors LLC boosted its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 8.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. MADDEN SECURITIES Corp raised its stake in shares of Kraft Heinz by 2.4% during the 3rd quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock valued at $448,000 after buying an additional 303 shares during the last quarter. HB Wealth Management LLC grew its position in Kraft Heinz by 2.5% during the second quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock valued at $419,000 after buying an additional 314 shares during the period. Axiom Advisory LLC raised its position in shares of Kraft Heinz by 5.2% in the third quarter. Axiom Advisory LLC now owns 6,594 shares of the company’s stock worth $227,000 after acquiring an additional 327 shares during the period. Lorne Steinberg Wealth Management Inc. grew its position in shares of Kraft Heinz by 0.3% during the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 109,600 shares of the company’s stock valued at $4,044,000 after acquiring an additional 335 shares during the period. Finally, Norden Group LLC increased its stake in shares of Kraft Heinz by 3.8% in the 2nd quarter. Norden Group LLC now owns 9,321 shares of the company’s stock valued at $300,000 after purchasing an additional 339 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Cory Onell sold 4,076 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total value of $146,736.00. Following the sale, the insider now directly owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.32% of the stock is currently owned by insiders.

Kraft Heinz Trading Down 0.9 %

KHC opened at $34.80 on Wednesday. The business’s 50 day moving average price is $35.27 and its 200 day moving average price is $34.87. 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 stock has a market capitalization of $42.26 billion, a PE ratio of 15.20, a P/E/G ratio of 3.48 and a beta of 0.49. The Kraft Heinz Company has a one year low of $31.08 and a one year high of $38.96.

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on KHC. Deutsche Bank Aktiengesellschaft reduced their target price on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Bank of America cut their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Stifel Nicolaus cut Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price target for the stock from $40.00 to $38.00 in a research report on Friday, October 25th. Barclays upped their target price on shares of Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company upped their price objective on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $37.58.

About Kraft Heinz

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.