abrdn plc Sells 51,686 Shares of The Kraft Heinz Company (NASDAQ:KHC)

abrdn plc reduced its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 14.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 305,232 shares of the company’s stock after selling 51,686 shares during the quarter. abrdn plc’s holdings in Kraft Heinz were worth $9,290,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of KHC. AMF Tjanstepension AB grew its holdings in Kraft Heinz by 143.4% during the third quarter. AMF Tjanstepension AB now owns 245,522 shares of the company’s stock worth $8,620,000 after purchasing an additional 144,646 shares during the period. Czech National Bank raised its stake in Kraft Heinz by 19.5% in the third quarter. Czech National Bank now owns 179,800 shares of the company’s stock valued at $6,313,000 after buying an additional 29,392 shares during the period. Diversified Trust Co raised its stake in Kraft Heinz by 51.0% in the third quarter. Diversified Trust Co now owns 14,401 shares of the company’s stock valued at $506,000 after buying an additional 4,865 shares during the period. Mather Group LLC. raised its stake in Kraft Heinz by 84.6% in the third quarter. Mather Group LLC. now owns 7,064 shares of the company’s stock valued at $248,000 after buying an additional 3,238 shares during the period. Finally, Brookstone Capital Management raised its stake in Kraft Heinz by 24.2% in the third quarter. Brookstone Capital Management now owns 103,967 shares of the company’s stock valued at $3,650,000 after buying an additional 20,255 shares during the period. Institutional investors own 78.17% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on KHC. Jefferies Financial Group dropped their price objective on Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. Evercore ISI reiterated an “in-line” rating and issued a $35.00 price target (down previously from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. UBS Group decreased their price target on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Stifel Nicolaus decreased their price target on shares of Kraft Heinz from $35.00 to $32.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Finally, TD Cowen decreased their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Kraft Heinz presently has an average rating of “Hold” and a consensus target price of $34.07.

Kraft Heinz Stock Performance

Shares of NASDAQ:KHC opened at $29.30 on Friday. The company’s 50 day simple moving average is $30.17 and its 200 day simple moving average is $32.91. The stock has a market capitalization of $35.43 billion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 3.82 and a beta of 0.47. 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 $28.31 and a 1 year high of $38.96.

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.