Fifth Third Bancorp Purchases 1,147 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Fifth Third Bancorp raised its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 4.5% in the fourth quarter, HoldingsChannel reports. The firm owned 26,688 shares of the company’s stock after buying an additional 1,147 shares during the quarter. Fifth Third Bancorp’s holdings in Kraft Heinz were worth $820,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Public Sector Pension Investment Board increased its holdings in Kraft Heinz by 47.9% during the second quarter. Public Sector Pension Investment Board now owns 14,551 shares of the company’s stock valued at $469,000 after buying an additional 4,714 shares during the last quarter. Creative Planning increased its stake in shares of Kraft Heinz by 79.0% in the 2nd quarter. Creative Planning now owns 209,567 shares of the company’s stock worth $6,752,000 after purchasing an additional 92,495 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Kraft Heinz by 11.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 70,401 shares of the company’s stock worth $2,268,000 after purchasing an additional 7,010 shares during the period. NewEdge Advisors LLC lifted its position in Kraft Heinz by 14.3% during the second quarter. NewEdge Advisors LLC now owns 51,630 shares of the company’s stock valued at $1,664,000 after purchasing an additional 6,469 shares in the last quarter. Finally, Quarry LP bought a new stake in Kraft Heinz during the second quarter valued at about $76,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Trading Up 0.2 %

Shares of KHC opened at $29.66 on Thursday. The Kraft Heinz Company has a fifty-two week low of $28.37 and a fifty-two week high of $38.96. 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 company’s fifty day moving average is $30.49 and its 200 day moving average is $33.09. The stock has a market capitalization of $35.86 billion, a PE ratio of 26.72, a P/E/G ratio of 3.45 and a beta of 0.48.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (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 analysts’ expectations of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The business’s revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 EPS. Sell-side analysts expect that The Kraft Heinz Company will post 3 earnings per share for the current fiscal year.

Insider Buying and Selling at Kraft Heinz

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction on 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 owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on KHC. Piper Sandler reaffirmed a “neutral” rating and set a $35.00 price objective (down from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. Mizuho lowered their price target on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. UBS Group reduced their price objective on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Jefferies Financial Group lowered their target price 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. Finally, Barclays decreased their price target on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $34.43.

About Kraft Heinz

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.