Alpha Omega Wealth Management LLC Cuts Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Alpha Omega Wealth Management LLC reduced its position in The Kraft Heinz Company (NASDAQ:KHC) by 26.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,104 shares of the company’s stock after selling 3,242 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Kraft Heinz were worth $280,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sawyer & Company Inc acquired a new stake in shares of Kraft Heinz in the fourth quarter valued at $25,000. Fortitude Family Office LLC raised its position in Kraft Heinz by 249.5% in the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after purchasing an additional 529 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Kraft Heinz in the 3rd quarter valued at about $27,000. DiNuzzo Private Wealth Inc. increased its stake in shares of Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after buying an additional 797 shares during the period. Finally, Bangor Savings Bank acquired a new stake in Kraft Heinz in the third quarter valued at approximately $32,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Performance

NASDAQ:KHC opened at $29.84 on Friday. The firm has a market cap of $36.08 billion, a price-to-earnings ratio of 26.88, a price-to-earnings-growth ratio of 3.80 and a beta of 0.48. 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 Kraft Heinz Company has a 1-year low of $28.37 and a 1-year high of $38.96. The firm’s fifty day moving average price is $30.41 and its 200 day moving average price is $33.03.

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 business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the firm earned $0.72 EPS. On average, sell-side analysts expect that The Kraft Heinz Company will post 3 EPS for the current year.

Insider Activity at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total value of $1,505,250.00. Following the sale, the executive vice president now directly owns 168,195 shares in the company, valued at $5,626,122.75. The trade was a 21.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on KHC shares. Barclays dropped their price objective on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, November 1st. Stifel Nicolaus cut their price target on Kraft Heinz from $35.00 to $32.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Evercore ISI reiterated an “in-line” rating and issued a $35.00 price objective (down previously from $38.00) on shares of Kraft Heinz in a report on Tuesday, January 7th. TD Cowen decreased their target price 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. Finally, Jefferies Financial Group dropped their price target on shares of Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a research note on Wednesday. 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $34.07.

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.