DMC Group LLC Reduces Holdings in The Kraft Heinz Company (NASDAQ:KHC)

DMC Group LLC reduced its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 35.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,508 shares of the company’s stock after selling 9,224 shares during the period. DMC Group LLC’s holdings in Kraft Heinz were worth $507,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in KHC. Public Sector Pension Investment Board boosted its position in Kraft Heinz by 47.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 14,551 shares of the company’s stock valued at $469,000 after buying an additional 4,714 shares during the last quarter. Creative Planning boosted its holdings in Kraft Heinz by 79.0% in the second quarter. Creative Planning now owns 209,567 shares of the company’s stock valued at $6,752,000 after purchasing an additional 92,495 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Kraft Heinz by 11.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 70,401 shares of the company’s stock valued at $2,268,000 after purchasing an additional 7,010 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Kraft Heinz by 14.3% during the 2nd quarter. NewEdge Advisors LLC now owns 51,630 shares of the company’s stock worth $1,664,000 after purchasing an additional 6,469 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of Kraft Heinz in the 2nd quarter valued at approximately $76,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kraft Heinz

In other news, EVP Pedro F. P. Navio sold 45,000 shares of Kraft Heinz stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the sale, the executive vice president now owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. The trade was a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.32% of the stock is currently owned by company insiders.

Kraft Heinz Price Performance

Shares of KHC opened at $29.66 on Thursday. The Kraft Heinz Company has a 12 month low of $28.37 and a 12 month high of $38.96. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. The stock has a fifty day moving average price of $30.49 and a 200 day moving average price of $33.09. The company has a market cap of $35.86 billion, a P/E ratio of 26.72, a PEG ratio of 3.45 and a beta of 0.48.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.74 by $0.01. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 earnings per share. On average, research analysts forecast that The Kraft Heinz Company will post 3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KHC. The Goldman Sachs Group decreased their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research report on Thursday, October 31st. Citigroup decreased their price objective on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, October 31st. TD Cowen cut their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Piper Sandler reaffirmed a “neutral” rating and set a $35.00 price target (down previously from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. Finally, Mizuho lowered 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $34.43.

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.