Abner Herrman & Brock LLC Sells 12,000 Shares of Kraft Heinz Co (KHC)

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Abner Herrman & Brock LLC trimmed its position in shares of Kraft Heinz Co (NASDAQ:KHC) by 56.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,080 shares of the company’s stock after selling 12,000 shares during the period. Abner Herrman & Brock LLC’s holdings in Kraft Heinz were worth $500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of KHC. Magellan Asset Management Ltd raised its holdings in Kraft Heinz by 39.6% during the 2nd quarter. Magellan Asset Management Ltd now owns 33,621,370 shares of the company’s stock valued at $2,112,094,000 after buying an additional 9,529,235 shares during the period. FMR LLC raised its holdings in Kraft Heinz by 34.4% during the 2nd quarter. FMR LLC now owns 8,254,817 shares of the company’s stock valued at $518,567,000 after buying an additional 2,111,198 shares during the period. Northern Trust Corp raised its holdings in Kraft Heinz by 3.3% during the 2nd quarter. Northern Trust Corp now owns 7,204,595 shares of the company’s stock valued at $452,592,000 after buying an additional 230,493 shares during the period. Federated Investors Inc. PA raised its holdings in Kraft Heinz by 39,913.8% during the 2nd quarter. Federated Investors Inc. PA now owns 3,407,179 shares of the company’s stock valued at $214,038,000 after buying an additional 3,398,664 shares during the period. Finally, Legal & General Group Plc raised its holdings in Kraft Heinz by 3.4% during the 2nd quarter. Legal & General Group Plc now owns 2,891,188 shares of the company’s stock valued at $181,612,000 after buying an additional 93,997 shares during the period. 62.90% of the stock is currently owned by institutional investors and hedge funds.

In other news, major shareholder Global Food Holdings Lp 3G sold 20,630,314 shares of the stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $59.85, for a total transaction of $1,234,724,292.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Eduardo Pelleissone sold 35,000 shares of the stock in a transaction on Monday, August 6th. The stock was sold at an average price of $63.85, for a total value of $2,234,750.00. The disclosure for this sale can be found here. Company insiders own 26.81% of the company’s stock.

KHC stock traded up $1.98 during midday trading on Friday, reaching $57.52. The company’s stock had a trading volume of 701,708 shares, compared to its average volume of 6,375,207. The company has a quick ratio of 0.70, a current ratio of 1.05 and a debt-to-equity ratio of 0.48. Kraft Heinz Co has a 1 year low of $53.03 and a 1 year high of $82.48. The firm has a market cap of $68.77 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 1.99 and a beta of 0.51.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Friday, August 3rd. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.08. Kraft Heinz had a return on equity of 6.16% and a net margin of 40.85%. The business had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same quarter last year, the firm posted $0.98 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. Research analysts expect that Kraft Heinz Co will post 3.7 EPS for the current year.

Several analysts recently weighed in on KHC shares. Morgan Stanley started coverage on Kraft Heinz in a report on Monday, September 17th. They set an “underweight” rating and a $52.00 price target on the stock. Zacks Investment Research lowered Kraft Heinz from a “hold” rating to a “sell” rating in a report on Wednesday, September 5th. BidaskClub upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a report on Thursday, September 13th. Bank of America set a $85.00 price target on Kraft Heinz and gave the company a “buy” rating in a report on Monday, August 6th. Finally, Jefferies Financial Group restated a “buy” rating and set a $75.00 price target on shares of Kraft Heinz in a report on Tuesday, August 7th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $72.02.

Kraft Heinz Company Profile

The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.

Further Reading: Put Option

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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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