Abundance Wealth Counselors Reduces Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Abundance Wealth Counselors reduced its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 11.0% in the 4th quarter, HoldingsChannel reports. The firm owned 37,860 shares of the company’s stock after selling 4,662 shares during the quarter. Abundance Wealth Counselors’ holdings in Kraft Heinz were worth $1,163,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Kraft Heinz by 16.7% during the 3rd quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after purchasing an additional 6,366,732 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Kraft Heinz by 11.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock valued at $669,821,000 after acquiring an additional 1,944,019 shares during the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Kraft Heinz during the 3rd quarter worth about $411,304,000. Nordea Investment Management AB raised its stake in Kraft Heinz by 16.3% during the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock worth $269,906,000 after purchasing an additional 1,238,200 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Kraft Heinz by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company’s stock valued at $186,350,000 after buying an additional 545,504 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Insider Buying and Selling

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on KHC shares. Piper Sandler restated a “neutral” rating and set a $35.00 price target (down from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. Mizuho reduced their target price on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. UBS Group lowered their price target on Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Citigroup decreased their price target on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Kraft Heinz from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $34.07.

Kraft Heinz Stock Down 1.4 %

NASDAQ:KHC opened at $29.84 on Friday. The firm has a market capitalization of $36.08 billion, a PE ratio of 26.88, a price-to-earnings-growth ratio of 3.80 and a beta of 0.48. The Kraft Heinz Company has a 52 week low of $28.37 and a 52 week high of $38.96. 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 50 day moving average of $30.41 and a 200-day moving average of $33.03.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $6.42 billion. During the same period last year, the company earned $0.72 earnings per share. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. Analysts predict that The Kraft Heinz Company will post 3 EPS for the current year.

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.