AustralianSuper Pty Ltd Acquires 146,763 Shares of Kraft Heinz Company $KHC

AustralianSuper Pty Ltd lifted its stake in Kraft Heinz Company (NASDAQ:KHC) by 13.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,217,081 shares of the company’s stock after acquiring an additional 146,763 shares during the period. AustralianSuper Pty Ltd’s holdings in Kraft Heinz were worth $31,693,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Rakuten Securities Inc. lifted its holdings in Kraft Heinz by 172.4% during the 2nd quarter. Rakuten Securities Inc. now owns 1,245 shares of the company’s stock worth $32,000 after purchasing an additional 788 shares in the last quarter. Cape Investment Advisory Inc. increased its position in shares of Kraft Heinz by 164.7% during the second quarter. Cape Investment Advisory Inc. now owns 1,297 shares of the company’s stock valued at $33,000 after buying an additional 807 shares during the period. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Kraft Heinz in the second quarter worth about $39,000. Hilltop National Bank bought a new position in shares of Kraft Heinz in the second quarter valued at approximately $41,000. Finally, Albion Financial Group UT purchased a new position in Kraft Heinz during the third quarter valued at approximately $43,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Kraft Heinz

In related news, insider Miguel Patricio sold 125,000 shares of the stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $24.82, for a total transaction of $3,102,500.00. Following the transaction, the insider owned 686,817 shares of the company’s stock, valued at approximately $17,046,797.94. This trade represents a 15.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.35% of the company’s stock.

Kraft Heinz Stock Performance

Shares of NASDAQ KHC opened at $23.14 on Friday. The stock’s 50-day moving average is $24.17 and its 200 day moving average is $25.62. The stock has a market cap of $27.39 billion, a price-to-earnings ratio of -6.20 and a beta of 0.09. Kraft Heinz Company has a 1-year low of $21.99 and a 1-year high of $33.35. The company has a current ratio of 1.13, a quick ratio of 0.73 and a debt-to-equity ratio of 0.46.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The business had revenue of $6.24 billion for the quarter, compared to analysts’ expectations of $6.27 billion. Kraft Heinz had a negative net margin of 17.35% and a positive return on equity of 7.26%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the business earned $0.75 earnings per share. On average, sell-side analysts anticipate that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Kraft Heinz from $27.00 to $26.00 in a research note on Thursday, October 30th. Piper Sandler lifted their price objective on Kraft Heinz from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Monday, December 15th. The Goldman Sachs Group reduced their target price on Kraft Heinz from $30.00 to $27.00 in a research report on Thursday, October 30th. HSBC lowered their price target on Kraft Heinz from $29.00 to $27.00 in a report on Thursday, October 30th. Finally, Jefferies Financial Group cut their price objective on Kraft Heinz from $24.00 to $23.00 and set a “hold” rating for the company in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $26.16.

About Kraft Heinz

The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. The combination created one of the largest packaged-food companies in the world, built around well-known consumer brands. The merger was supported by major investors and established a multi-national platform for branded food products.

Kraft Heinz develops, manufactures, markets and distributes a broad portfolio of branded packaged foods and condiments.