Jennison Associates LLC Sells 1,771 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Jennison Associates LLC decreased its position in The Kraft Heinz Company (NASDAQ:KHC) by 14.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,474 shares of the company’s stock after selling 1,771 shares during the period. Jennison Associates LLC’s holdings in Kraft Heinz were worth $322,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of KHC. Hotchkis & Wiley Capital Management LLC bought a new position in Kraft Heinz during the third quarter worth $411,304,000. State Street Corp boosted 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 in the last quarter. Geode Capital Management LLC grew its stake in shares of Kraft Heinz by 11.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock valued at $669,821,000 after buying an additional 1,944,019 shares during the period. Nordea Investment Management AB increased its position in Kraft Heinz by 16.3% in the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock valued at $269,906,000 after buying an additional 1,238,200 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake 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 worth $39,112,000 after buying an additional 1,170,814 shares during the period. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Trading Up 1.0 %

NASDAQ KHC opened at $29.30 on Friday. The business’s fifty day moving average is $30.17 and its 200-day moving average is $32.91. 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 stock has a market capitalization of $35.43 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 3.82 and a beta of 0.47. The Kraft Heinz Company has a one year low of $28.31 and a one year high of $38.96.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Piper Sandler restated a “neutral” rating and set a $35.00 price objective (down previously from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Barclays lowered 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 report on Friday, November 1st. Stifel Nicolaus reduced their price objective on shares of Kraft Heinz from $35.00 to $32.00 and set a “hold” rating for the company in a report on Friday, January 24th. JPMorgan Chase & Co. lowered their target price on shares of Kraft Heinz from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Finally, The Goldman Sachs Group cut their price target on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $34.07.

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.