Lingohr Asset Management GmbH Invests $564,000 in Kraft Heinz Company $KHC

Lingohr Asset Management GmbH purchased a new stake in Kraft Heinz Company (NASDAQ:KHC) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 21,652 shares of the company’s stock, valued at approximately $564,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of KHC. Howard Capital Management Inc. increased its stake in Kraft Heinz by 4.4% in the third quarter. Howard Capital Management Inc. now owns 36,145 shares of the company’s stock valued at $941,000 after purchasing an additional 1,525 shares during the period. RWWM Inc. increased its position in Kraft Heinz by 32.8% in the 3rd quarter. RWWM Inc. now owns 1,721,883 shares of the company’s stock valued at $44,838,000 after acquiring an additional 425,292 shares during the period. Winnow Wealth LLC purchased a new stake in Kraft Heinz during the 3rd quarter valued at approximately $1,041,000. Cornerstone Wealth Management LLC raised its stake in Kraft Heinz by 15.7% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 28,468 shares of the company’s stock valued at $741,000 after acquiring an additional 3,870 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in Kraft Heinz by 0.4% during the 3rd quarter. Arizona State Retirement System now owns 262,896 shares of the company’s stock worth $6,846,000 after acquiring an additional 935 shares during the period. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Trading Up 2.6%

Shares of Kraft Heinz stock opened at $23.74 on Friday. The company has a 50-day moving average of $24.14 and a two-hundred day moving average of $25.59. Kraft Heinz Company has a 12-month low of $21.99 and a 12-month high of $33.35. The company has a current ratio of 1.13, a quick ratio of 0.73 and a debt-to-equity ratio of 0.46. The stock has a market cap of $28.10 billion, a PE ratio of -6.36 and a beta of 0.09.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The business had revenue of $6.24 billion for the quarter, compared to analysts’ expectations of $6.27 billion. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 17.35%.The company’s revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 EPS. On average, research analysts anticipate that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Analysts Set New Price Targets

KHC has been the topic of a number of recent research reports. The Goldman Sachs Group dropped their target price on Kraft Heinz from $30.00 to $27.00 in a report on Thursday, October 30th. HSBC dropped their price objective on shares of Kraft Heinz from $29.00 to $27.00 in a research note on Thursday, October 30th. Wells Fargo & Company reduced their target price on shares of Kraft Heinz from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Thursday, October 30th. Sanford C. Bernstein dropped their price target on shares of Kraft Heinz from $30.00 to $27.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 28th. Finally, Evercore ISI cut their price target on shares of Kraft Heinz from $28.00 to $25.00 in a report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $26.16.

Insiders Place Their Bets

In other news, insider Miguel Patricio sold 125,000 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $24.82, for a total value of $3,102,500.00. Following the completion of the transaction, the insider owned 686,817 shares in the company, valued at $17,046,797.94. This trade represents a 15.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.35% of the company’s stock.

About Kraft Heinz

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.