Wealthfront Advisers LLC Buys 39,806 Shares of Kraft Heinz Co (NASDAQ:KHC)

Wealthfront Advisers LLC lifted its stake in shares of Kraft Heinz Co (NASDAQ:KHC) by 75.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 92,303 shares of the company’s stock after purchasing an additional 39,806 shares during the period. Wealthfront Advisers LLC’s holdings in Kraft Heinz were worth $2,578,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Meridian Wealth Management LLC bought a new stake in shares of Kraft Heinz during the 1st quarter worth approximately $27,000. Putnam FL Investment Management Co. bought a new stake in shares of Kraft Heinz during the 2nd quarter worth approximately $27,000. Zions Bancorporation N.A. raised its stake in shares of Kraft Heinz by 303.4% during the 2nd quarter. Zions Bancorporation N.A. now owns 960 shares of the company’s stock worth $30,000 after purchasing an additional 722 shares in the last quarter. Atlas Capital Advisors LLC bought a new stake in shares of Kraft Heinz during the 2nd quarter worth approximately $31,000. Finally, Horrell Capital Management Inc. bought a new stake in shares of Kraft Heinz during the 2nd quarter worth approximately $31,000. Institutional investors own 56.47% of the company’s stock.

A number of brokerages have recently issued reports on KHC. Guggenheim set a $25.00 price objective on Kraft Heinz and gave the stock a “sell” rating in a research note on Monday, August 26th. ValuEngine upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Wells Fargo & Co restated a “hold” rating on shares of Kraft Heinz in a research note on Tuesday, September 3rd. Piper Jaffray Companies set a $26.00 price target on Kraft Heinz and gave the company a “hold” rating in a research note on Wednesday, September 4th. Finally, Credit Suisse Group set a $26.00 price target on Kraft Heinz and gave the company a “sell” rating in a research note on Friday, August 9th. Four research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $36.05.

In related news, Director Jorge P. Lemann bought 3,496,503 shares of Kraft Heinz stock in a transaction dated Monday, September 16th. The shares were bought at an average cost of $28.60 per share, with a total value of $99,999,985.80. Following the acquisition, the director now owns 3,516,449 shares in the company, valued at approximately $100,570,441.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Damme Alexandre Van bought 250,000 shares of Kraft Heinz stock in a transaction dated Wednesday, September 18th. The shares were bought at an average cost of $28.45 per share, for a total transaction of $7,112,500.00. Following the completion of the acquisition, the director now owns 8,168 shares in the company, valued at approximately $232,379.60. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

NASDAQ KHC traded down $0.01 on Wednesday, reaching $27.48. The stock had a trading volume of 188,556 shares, compared to its average volume of 7,237,426. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.18 and a quick ratio of 0.78. The firm has a fifty day moving average of $27.29 and a two-hundred day moving average of $29.93. Kraft Heinz Co has a 1-year low of $24.86 and a 1-year high of $58.08. The company has a market cap of $33.04 billion, a P/E ratio of 7.78, a price-to-earnings-growth ratio of 2.27 and a beta of 0.77.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. Kraft Heinz had a positive return on equity of 6.06% and a negative net margin of 43.40%. The firm had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.07 billion. During the same period in the prior year, the firm posted $0.90 EPS. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. Research analysts predict that Kraft Heinz Co will post 2.65 EPS for the current fiscal year.

Kraft Heinz Profile

The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.

Further Reading: What are some reasons analysts would give stocks a buy rating?

Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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