ProShare Advisors LLC Has $38.26 Million Holdings in Kraft Heinz Company $KHC

ProShare Advisors LLC trimmed its position in Kraft Heinz Company (NASDAQ:KHC) by 18.5% in the third quarter, Holdings Channel reports. The fund owned 1,469,183 shares of the company’s stock after selling 333,070 shares during the quarter. ProShare Advisors LLC’s holdings in Kraft Heinz were worth $38,258,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Kraft Heinz during the second quarter worth about $276,159,000. Nordea Investment Management AB boosted its position in Kraft Heinz by 75.1% during the 3rd 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 during the period. Geode Capital Management LLC boosted its position in Kraft Heinz by 14.7% during the 2nd 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 grew its holdings in Kraft Heinz by 1,645.9% during the 2nd quarter. Marshall Wace LLP now owns 1,880,281 shares of the company’s stock worth $48,549,000 after acquiring an additional 1,772,581 shares during the last quarter. Finally, Fairfax Financial Holdings Ltd. Can increased its position in Kraft Heinz by 45.4% in 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. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Performance

Shares of Kraft Heinz stock opened at $24.58 on Tuesday. The business has a 50-day moving average price of $24.00 and a two-hundred day moving average price of $25.40. Kraft Heinz Company has a 1-year low of $21.99 and a 1-year 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 company has a market cap of $29.10 billion, a P/E ratio of -6.59 and a beta of 0.08.

Insider Buying and Selling

In related news, insider Miguel Patricio sold 125,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The stock was 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 owned 686,817 shares of the company’s stock, valued at $17,046,797.94. This trade represents a 15.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.35% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group cut their price target on shares of Kraft Heinz from $30.00 to $27.00 in a report on Thursday, October 30th. Mizuho lowered their target price on Kraft Heinz from $29.00 to $27.00 and set a “neutral” rating for the company in a research report on Tuesday, October 28th. Zacks Research raised Kraft Heinz from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Jefferies Financial Group reduced their price target on Kraft Heinz from $24.00 to $23.00 and set a “hold” rating on the stock in a research report on Tuesday, January 20th. Finally, BNP Paribas Exane downgraded Kraft Heinz from a “neutral” rating to an “underperform” rating and set a $22.00 price objective for the company. in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $26.16.

Kraft Heinz 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.