Lebenthal Global Advisors LLC Purchases Shares of 30,067 Kraft Heinz Company $KHC

Lebenthal Global Advisors LLC purchased a new position in shares of Kraft Heinz Company (NASDAQ:KHC) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 30,067 shares of the company’s stock, valued at approximately $783,000.

Several other hedge funds also recently modified their holdings of the stock. Mutual Advisors LLC increased its position in shares of Kraft Heinz by 20.6% in the third quarter. Mutual Advisors LLC now owns 27,507 shares of the company’s stock valued at $699,000 after acquiring an additional 4,698 shares during the last quarter. Frank Rimerman Advisors LLC grew its stake in Kraft Heinz by 88.2% in the third quarter. Frank Rimerman Advisors LLC now owns 30,685 shares of the company’s stock valued at $799,000 after purchasing an additional 14,377 shares in the last quarter. Lingohr Asset Management GmbH acquired a new position in shares of Kraft Heinz during the 3rd quarter worth approximately $564,000. Howard Capital Management Inc. raised its stake in shares of Kraft Heinz by 4.4% during the 3rd quarter. Howard Capital Management Inc. now owns 36,145 shares of the company’s stock worth $941,000 after purchasing an additional 1,525 shares in the last quarter. Finally, RWWM Inc. grew its stake in shares of Kraft Heinz by 32.8% in the third quarter. RWWM Inc. now owns 1,721,883 shares of the company’s stock valued at $44,838,000 after buying an additional 425,292 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on KHC shares. JPMorgan Chase & Co. dropped their price target on shares of Kraft Heinz from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 21st. Wells Fargo & Company dropped their target price on shares of Kraft Heinz from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. Sanford C. Bernstein reduced their price target on Kraft Heinz from $30.00 to $27.00 and set a “market perform” rating for the company in a report on Tuesday, October 28th. Evercore ISI lowered their price target on Kraft Heinz from $28.00 to $25.00 in a research report on Friday, January 9th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Kraft Heinz from $27.00 to $26.00 in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Kraft Heinz presently has a consensus rating of “Reduce” and a consensus price target of $26.16.

Kraft Heinz Stock Performance

KHC opened at $23.74 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.73. The business has a fifty day simple moving average of $24.14 and a 200 day simple moving average of $25.58. Kraft Heinz Company has a 1 year low of $21.99 and a 1 year high of $33.35. The company has a market capitalization of $28.10 billion, a PE ratio of -6.36 and a beta of 0.09.

Kraft Heinz (NASDAQ:KHC) last posted 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. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 17.35%.The company had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter last year, the firm earned $0.75 earnings per share. The company’s revenue was down 2.3% on a year-over-year basis. Research analysts expect that Kraft Heinz Company will post 2.68 EPS for the current year.

Insider Transactions at Kraft Heinz

In other news, insider Miguel Patricio sold 125,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.35% of the stock is owned by corporate insiders.

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.