Milestone Asset Management LLC Makes New $1 Million Investment in The Kraft Heinz Company (NASDAQ:KHC)

Milestone Asset Management LLC bought a new position in The Kraft Heinz Company (NASDAQ:KHC) in the fourth quarter, Holdings Channel reports. The institutional investor bought 32,703 shares of the company’s stock, valued at approximately $1,004,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Kraft Heinz during the 3rd quarter worth about $411,304,000. State Street Corp increased its position in shares of 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 purchasing an additional 6,366,732 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Kraft Heinz by 11.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock valued at $669,821,000 after acquiring an additional 1,944,019 shares during the period. Nordea Investment Management AB boosted its holdings in Kraft Heinz by 16.3% during the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock valued at $269,906,000 after acquiring an additional 1,238,200 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Kraft Heinz by 1,139.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,273,579 shares of the company’s stock valued at $39,112,000 after acquiring an additional 1,170,814 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Stock Up 0.2 %

Shares of NASDAQ:KHC opened at $29.66 on Thursday. The company has a market cap of $35.86 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 3.45 and a beta of 0.48. The firm’s 50-day simple moving average is $30.49 and its 200-day simple moving average is $33.09. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The Kraft Heinz Company has a fifty-two week low of $28.37 and a fifty-two week high of $38.96.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The firm had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.42 billion. During the same quarter last year, the business earned $0.72 earnings per share. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, equities research analysts predict that The Kraft Heinz Company will post 3 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on KHC shares. Piper Sandler restated a “neutral” rating and set a $35.00 target price (down from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft cut Kraft Heinz from a “buy” rating to a “hold” rating and lowered their target price for the company from $39.00 to $35.00 in a report on Thursday, October 31st. Mizuho decreased their price objective on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. UBS Group decreased their price objective on Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, TD Cowen decreased their price objective on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $34.43.

Insider Activity at Kraft Heinz

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

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.