Great Lakes Advisors LLC Has $5.26 Million Holdings in Kraft Heinz Company $KHC

Great Lakes Advisors LLC lifted its stake in Kraft Heinz Company (NASDAQ:KHC) by 46.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 201,914 shares of the company’s stock after buying an additional 63,995 shares during the period. Great Lakes Advisors LLC’s holdings in Kraft Heinz were worth $5,258,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of KHC. Rakuten Securities Inc. lifted its stake in shares of Kraft Heinz by 172.4% in the second quarter. Rakuten Securities Inc. now owns 1,245 shares of the company’s stock valued at $32,000 after buying an additional 788 shares during the period. Cape Investment Advisory Inc. raised its stake in shares of Kraft Heinz by 164.7% in the 2nd quarter. Cape Investment Advisory Inc. now owns 1,297 shares of the company’s stock valued at $33,000 after buying an additional 807 shares in the last quarter. Mid American Wealth Advisory Group Inc. bought a new stake in Kraft Heinz in the second quarter valued at about $39,000. Hilltop National Bank acquired a new position in Kraft Heinz in the second quarter worth about $41,000. Finally, Albion Financial Group UT acquired a new stake in Kraft Heinz during the third quarter valued at approximately $43,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on KHC. Jefferies Financial Group cut their target price on Kraft Heinz from $24.00 to $23.00 and set a “hold” rating for the company in a research report on Tuesday, January 20th. Piper Sandler increased their price objective on Kraft Heinz from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Monday, December 15th. UBS Group reduced their target price on shares of Kraft Heinz from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 14th. Weiss Ratings reiterated a “sell (d)” rating on shares of Kraft Heinz in a research report on Thursday, January 22nd. Finally, Evercore ISI reduced their price target on shares of Kraft Heinz from $28.00 to $25.00 in a research report on Friday, January 9th. One equities 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $26.16.

Insider Transactions at Kraft Heinz

In other news, insider Miguel Patricio sold 125,000 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $24.82, for a total value of $3,102,500.00. Following the transaction, the insider owned 686,817 shares of the company’s stock, valued at approximately $17,046,797.94. This trade represents a 15.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.35% of the company’s stock.

Kraft Heinz Price Performance

Shares of KHC stock opened at $23.74 on Friday. 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 firm’s 50 day moving average is $24.14 and its 200-day moving average is $25.59. Kraft Heinz Company has a 1 year low of $21.99 and a 1 year high of $33.35. The firm has a market capitalization of $28.10 billion, a price-to-earnings 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 for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The company had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $6.27 billion. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 17.35%.The firm’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.75 earnings per share. Sell-side analysts forecast that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

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.