Cadence Capital Management LLC trimmed its stake in Kraft Heinz Co (NASDAQ:KHC) by 14.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 73,879 shares of the company’s stock after selling 12,849 shares during the quarter. Cadence Capital Management LLC’s holdings in Kraft Heinz were worth $5,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of KHC. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Kraft Heinz by 4.0% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 65,342 shares of the company’s stock worth $5,596,000 after purchasing an additional 2,485 shares during the last quarter. Girard Partners LTD. grew its position in shares of Kraft Heinz by 3.4% in the 2nd quarter. Girard Partners LTD. now owns 10,805 shares of the company’s stock valued at $925,000 after purchasing an additional 357 shares during the period. Birinyi Associates Inc. grew its position in shares of Kraft Heinz by 10.7% in the 2nd quarter. Birinyi Associates Inc. now owns 28,450 shares of the company’s stock valued at $2,436,000 after purchasing an additional 2,750 shares during the period. Ray Gerald L & Associates Ltd. grew its position in shares of Kraft Heinz by 2.5% in the 2nd quarter. Ray Gerald L & Associates Ltd. now owns 38,301 shares of the company’s stock valued at $3,280,000 after purchasing an additional 930 shares during the period. Finally, Homrich & Berg grew its position in shares of Kraft Heinz by 16.2% in the 2nd quarter. Homrich & Berg now owns 4,551 shares of the company’s stock valued at $390,000 after purchasing an additional 635 shares during the period. 61.93% of the stock is owned by institutional investors and hedge funds.
Shares of Kraft Heinz Co (KHC) traded down $0.10 during trading on Wednesday, reaching $71.71. The company had a trading volume of 4,043,600 shares, compared to its average volume of 4,383,167. The company has a market capitalization of $87,498.19, a price-to-earnings ratio of 22.35, a P/E/G ratio of 1.93 and a beta of 0.43. The company has a quick ratio of 0.43, a current ratio of 0.77 and a debt-to-equity ratio of 0.48. Kraft Heinz Co has a 1-year low of $70.25 and a 1-year high of $97.77.
KHC has been the topic of a number of analyst reports. Morgan Stanley set a $88.00 price objective on Kraft Heinz and gave the stock a “buy” rating in a research note on Wednesday. Susquehanna Bancshares set a $80.00 price target on Kraft Heinz and gave the company a “hold” rating in a research note on Monday. Vetr raised Kraft Heinz from a “buy” rating to a “strong-buy” rating and set a $85.31 price objective on the stock in a report on Monday, February 5th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $94.00 price objective (up from $90.00) on shares of Kraft Heinz in a report on Tuesday, January 30th. Finally, Jefferies Group started coverage on Kraft Heinz in a report on Friday, January 19th. They issued a “buy” rating and a $95.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $92.27.
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About Kraft Heinz
The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.
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