The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by CENTRAL TRUST Co

CENTRAL TRUST Co cut its position in The Kraft Heinz Company (NASDAQ:KHC) by 6.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,256 shares of the company’s stock after selling 1,850 shares during the quarter. CENTRAL TRUST Co’s holdings in Kraft Heinz were worth $806,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. DAVENPORT & Co LLC raised its holdings in shares of Kraft Heinz by 4.2% in the fourth quarter. DAVENPORT & Co LLC now owns 175,723 shares of the company’s stock worth $5,396,000 after acquiring an additional 7,101 shares during the last quarter. Founders Capital Management LLC grew its position in shares of Kraft Heinz by 10.4% in the fourth quarter. Founders Capital Management LLC now owns 92,337 shares of the company’s stock valued at $2,836,000 after purchasing an additional 8,702 shares during the period. Costello Asset Management INC grew its position in shares of Kraft Heinz by 7.6% in the fourth quarter. Costello Asset Management INC now owns 39,869 shares of the company’s stock valued at $1,224,000 after purchasing an additional 2,800 shares during the period. Independence Bank of Kentucky grew its position in shares of Kraft Heinz by 919.9% in the fourth quarter. Independence Bank of Kentucky now owns 2,152 shares of the company’s stock valued at $66,000 after purchasing an additional 1,941 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its position in Kraft Heinz by 28.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 19,678 shares of the company’s stock valued at $604,000 after acquiring an additional 4,342 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KHC has been the topic of several recent analyst reports. Citigroup cut their price target on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. UBS Group dropped their price target on Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Piper Sandler reissued a “neutral” rating and issued a $35.00 price objective (down from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Mizuho decreased their price objective on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, The Goldman Sachs Group decreased their price objective on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $34.07.

Kraft Heinz Price Performance

KHC opened at $29.28 on Tuesday. The stock has a fifty day moving average of $30.41 and a 200-day moving average of $33.03. The firm has a market capitalization of $35.40 billion, a P/E ratio of 26.38, a PEG ratio of 3.82 and a beta of 0.47. The Kraft Heinz Company has a 12-month low of $28.37 and a 12-month high of $38.96. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40.

Kraft Heinz Profile

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.