Modera Wealth Management LLC Purchases New Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Modera Wealth Management LLC purchased a new stake in The Kraft Heinz Company (NASDAQ:KHC) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 5,907 shares of the company’s stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. MADDEN SECURITIES Corp boosted its holdings in shares of Kraft Heinz by 2.4% during the 3rd quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock worth $448,000 after purchasing an additional 303 shares during the last quarter. HB Wealth Management LLC boosted its holdings in shares of Kraft Heinz by 2.5% during the 2nd quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock worth $419,000 after purchasing an additional 314 shares during the last quarter. Axiom Advisory LLC boosted its holdings in shares of Kraft Heinz by 5.2% during the 3rd quarter. Axiom Advisory LLC now owns 6,594 shares of the company’s stock worth $227,000 after purchasing an additional 327 shares during the last quarter. Lorne Steinberg Wealth Management Inc. boosted its holdings in shares of Kraft Heinz by 0.3% during the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 109,600 shares of the company’s stock worth $4,044,000 after purchasing an additional 335 shares during the last quarter. Finally, Norden Group LLC boosted its holdings in shares of Kraft Heinz by 3.8% during the 2nd quarter. Norden Group LLC now owns 9,321 shares of the company’s stock worth $300,000 after purchasing an additional 339 shares during the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Kraft Heinz

In other news, insider Cory Onell sold 4,076 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $36.00, for a total transaction of $146,736.00. Following the sale, the insider now owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Kraft Heinz Stock Down 0.9 %

Shares of NASDAQ KHC opened at $34.80 on Wednesday. The firm has a market cap of $42.26 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 3.48 and a beta of 0.49. The company has a quick ratio of 0.53, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a 52-week low of $31.08 and a 52-week high of $38.96. The business’s 50 day moving average is $35.27 and its two-hundred day moving average is $34.87.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. The company had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.79 earnings per share. Research analysts predict that The Kraft Heinz Company will post 3.01 EPS for the current year.

Analysts Set New Price Targets

KHC has been the topic of several recent research reports. Evercore ISI lowered their target price on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Bank of America reduced their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. The Goldman Sachs Group initiated coverage on shares of Kraft Heinz in a research report on Monday, August 12th. They set a “sell” rating and a $34.00 price target on the stock. Barclays lifted their price target on shares of Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $37.58.

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.