Kraft Heinz Company $KHC Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its position in Kraft Heinz Company (NASDAQ:KHC) by 6.3% in the third quarter, Holdings Channel.com reports. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Kraft Heinz in the second quarter worth $276,159,000. Nordea Investment Management AB boosted its holdings in Kraft Heinz by 75.1% during the third quarter. Nordea Investment Management AB now owns 13,694,483 shares of the company’s stock worth $351,263,000 after buying an additional 5,873,967 shares in the last quarter. Geode Capital Management LLC grew its position in Kraft Heinz by 14.7% during the second quarter. Geode Capital Management LLC now owns 26,446,203 shares of the company’s stock worth $681,663,000 after buying an additional 3,392,470 shares during the period. Marshall Wace LLP increased its holdings in Kraft Heinz by 1,645.9% in the second quarter. Marshall Wace LLP now owns 1,880,281 shares of the company’s stock valued at $48,549,000 after buying an additional 1,772,581 shares in the last quarter. Finally, Fairfax Financial Holdings Ltd. Can lifted its position in shares of Kraft Heinz by 45.4% during the 2nd quarter. Fairfax Financial Holdings Ltd. Can now owns 4,884,000 shares of the company’s stock valued at $126,056,000 after acquiring an additional 1,525,000 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Insider Activity

In other news, insider Miguel Patricio sold 125,000 shares of the business’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $24.82, for a total transaction of $3,102,500.00. Following the completion of the sale, the insider directly owned 686,817 shares of the company’s stock, valued at $17,046,797.94. The trade was a 15.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is owned by corporate insiders.

Kraft Heinz Trading Up 2.6%

Shares of KHC stock opened at $23.74 on Friday. The firm’s 50-day simple moving average is $24.14 and its 200-day simple moving average is $25.59. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.73. Kraft Heinz Company has a 1-year low of $21.99 and a 1-year high of $33.35. The firm has a market cap of $28.10 billion, a P/E ratio of -6.36 and a beta of 0.09.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, October 29th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $6.27 billion. Kraft Heinz had a negative net margin of 17.35% and a positive return on equity of 7.26%. Kraft Heinz’s revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.75 earnings per share. As a group, equities analysts forecast that Kraft Heinz Company will post 2.68 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KHC. Zacks Research raised Kraft Heinz from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. HSBC cut their price target on Kraft Heinz from $29.00 to $27.00 in a research note on Thursday, October 30th. BNP Paribas Exane downgraded shares of Kraft Heinz from a “neutral” rating to an “underperform” rating and set a $22.00 target price for the company. in a report on Wednesday, January 21st. JPMorgan Chase & Co. cut their target price on shares of Kraft Heinz from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Wednesday, January 21st. Finally, TD Cowen lowered their price target on shares of Kraft Heinz from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $26.16.

Kraft Heinz Company Profile

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.