Equitable Trust Co. Decreases Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Equitable Trust Co. cut its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 12.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 47,404 shares of the company’s stock after selling 6,608 shares during the quarter. Equitable Trust Co.’s holdings in Kraft Heinz were worth $1,456,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC boosted its position in shares of Kraft Heinz by 249.5% in the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after buying an additional 529 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in Kraft Heinz in the 3rd quarter valued at about $27,000. Sawyer & Company Inc purchased a new position in Kraft Heinz in the 4th quarter valued at about $25,000. DiNuzzo Private Wealth Inc. lifted its holdings in Kraft Heinz by 1,077.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after purchasing an additional 797 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in Kraft Heinz in the 3rd quarter valued at about $33,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on KHC. Wells Fargo & Company reduced their target price on shares of Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Mizuho lowered shares of Kraft Heinz from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $38.00 to $31.00 in a report on Monday. Evercore ISI restated an “in-line” rating and issued a $35.00 target price (down from $38.00) on shares of Kraft Heinz in a report on Tuesday, January 7th. JPMorgan Chase & Co. dropped their price objective on shares of Kraft Heinz from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $35.00 price objective (down previously from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Kraft Heinz currently has an average rating of “Hold” and an average price target of $33.36.

Kraft Heinz Stock Down 1.2 %

KHC opened at $28.96 on Tuesday. The firm has a 50 day moving average price of $30.11 and a 200 day moving average price of $32.88. The company has a market cap of $35.02 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 3.74 and a beta of 0.47. The Kraft Heinz Company has a 1 year low of $28.31 and a 1 year high of $38.96. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06.

Kraft Heinz Company 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.