OLD National Bancorp IN Boosts Holdings in The Kraft Heinz Company (NASDAQ:KHC)

OLD National Bancorp IN raised its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 1,260.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 243,055 shares of the company’s stock after acquiring an additional 225,192 shares during the quarter. OLD National Bancorp IN’s holdings in Kraft Heinz were worth $7,464,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp increased 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 valued at $1,558,898,000 after acquiring an additional 6,366,732 shares in the last quarter. Geode Capital Management LLC increased 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 in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new position in Kraft Heinz during the 3rd quarter valued at about $411,304,000. Nordea Investment Management AB increased 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Kraft Heinz by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company’s stock worth $186,350,000 after purchasing an additional 545,504 shares during the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on KHC. Evercore ISI reaffirmed an “in-line” rating and set a $35.00 price target (down from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price target for the stock from $39.00 to $35.00 in a research note on Thursday, October 31st. Mizuho decreased their price target on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Citigroup decreased their price target on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Finally, Stifel Nicolaus decreased their target price on shares of Kraft Heinz from $35.00 to $32.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. One equities research 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $34.43.

Insider Activity

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 shares were 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 in the company, valued at $5,626,122.75. This trade represents a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.32% of the company’s stock.

Kraft Heinz Trading Up 0.2 %

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

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.74 by $0.01. The firm had revenue of $6.38 billion for 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%. Kraft Heinz’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 earnings per share. On average, sell-side analysts predict that The Kraft Heinz Company will post 3 EPS for the current year.

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.