DAVENPORT & Co LLC Has $5.40 Million Stake in The Kraft Heinz Company (NASDAQ:KHC)

DAVENPORT & Co LLC lifted its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,723 shares of the company’s stock after acquiring an additional 7,101 shares during the quarter. DAVENPORT & Co LLC’s holdings in Kraft Heinz were worth $5,396,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. State Street Corp lifted its holdings in Kraft Heinz by 16.7% during the 3rd quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after buying an additional 6,366,732 shares during the period. Geode Capital Management LLC raised its position in shares of Kraft Heinz by 11.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock worth $669,821,000 after acquiring an additional 1,944,019 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in shares of Kraft Heinz in the 3rd quarter worth about $411,304,000. Nordea Investment Management AB raised its position in shares of Kraft Heinz by 16.3% in the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock worth $269,906,000 after acquiring an additional 1,238,200 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Kraft Heinz by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company’s stock worth $186,350,000 after acquiring an additional 545,504 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Price Performance

Kraft Heinz stock opened at $29.28 on Tuesday. The Kraft Heinz Company has a one year low of $28.37 and a one year high of $38.96. The business has a fifty day moving average price of $30.41 and a 200-day moving average price of $33.03. 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 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.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on KHC. Wells Fargo & Company decreased their target price on Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Evercore ISI reaffirmed an “in-line” rating and issued a $35.00 target price (down from $38.00) on shares of Kraft Heinz in a research report on Tuesday, January 7th. Barclays decreased their price objective on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Jefferies Financial Group decreased their price objective on Kraft Heinz from $34.00 to $30.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. Finally, 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. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Kraft Heinz has an average rating of “Hold” and a consensus price target of $34.07.

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.