Geneos Wealth Management Inc. Sells 3,697 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Geneos Wealth Management Inc. lowered its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 25.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 11,013 shares of the company’s stock after selling 3,697 shares during the period. Geneos Wealth Management Inc.’s holdings in Kraft Heinz were worth $338,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of KHC. Hotchkis & Wiley Capital Management LLC bought a new position in shares of Kraft Heinz during the 3rd quarter worth approximately $411,304,000. State Street Corp lifted its holdings in Kraft Heinz by 16.7% during the third quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after acquiring an additional 6,366,732 shares during the period. Geode Capital Management LLC boosted its position in Kraft Heinz by 11.3% in the third quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock worth $669,821,000 after purchasing an additional 1,944,019 shares during the last quarter. Nordea Investment Management AB grew its stake 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 purchasing an additional 1,238,200 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of 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 valued at $39,112,000 after purchasing an additional 1,170,814 shares during the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KHC has been the subject of a number of research analyst reports. Barclays decreased their price objective on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. The Goldman Sachs Group dropped their price objective on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a research note on Thursday, October 31st. Evercore ISI restated an “in-line” rating and issued a $35.00 target price (down from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. Stifel Nicolaus cut their price target on Kraft Heinz from $35.00 to $32.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft cut Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price objective for the company from $39.00 to $35.00 in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $34.43.

Kraft Heinz Price Performance

Kraft Heinz stock opened at $29.66 on Thursday. The business has a 50-day simple moving average of $30.49 and a 200 day simple moving average of $33.09. The Kraft Heinz Company has a 52 week low of $28.37 and a 52 week high of $38.96. The stock has a market cap of $35.86 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 3.45 and a beta of 0.48. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. The business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. Kraft Heinz’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the firm posted $0.72 earnings per share. On average, research analysts forecast that The Kraft Heinz Company will post 3 earnings per share for the current fiscal year.

Insider Activity

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the completion of the sale, the executive vice president now owns 168,195 shares of the company’s stock, valued at $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.32% of the company’s stock.

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.