Alps Advisors Inc. Has $24.45 Million Stake in Kraft Heinz Company $KHC

Alps Advisors Inc. raised its position in Kraft Heinz Company (NASDAQ:KHC) by 4.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 938,913 shares of the company’s stock after purchasing an additional 37,947 shares during the quarter. Alps Advisors Inc. owned 0.08% of Kraft Heinz worth $24,449,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. STF Management LP grew its stake in shares of Kraft Heinz by 2.1% in the second quarter. STF Management LP now owns 18,475 shares of the company’s stock valued at $477,000 after buying an additional 374 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in Kraft Heinz by 15.5% in the third quarter. Parkside Financial Bank & Trust now owns 3,219 shares of the company’s stock valued at $84,000 after acquiring an additional 431 shares during the last quarter. Hantz Financial Services Inc. grew its position in shares of Kraft Heinz by 13.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,894 shares of the company’s stock valued at $101,000 after acquiring an additional 460 shares during the period. Barrett & Company Inc. grew its position in shares of Kraft Heinz by 22.7% in the 3rd quarter. Barrett & Company Inc. now owns 2,700 shares of the company’s stock valued at $70,000 after acquiring an additional 500 shares during the period. Finally, Bill Few Associates Inc. increased its stake in shares of Kraft Heinz by 0.6% during the 2nd quarter. Bill Few Associates Inc. now owns 88,026 shares of the company’s stock worth $2,273,000 after purchasing an additional 516 shares during the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KHC has been the subject of several recent analyst reports. BNP Paribas Exane downgraded shares of Kraft Heinz from a “neutral” rating to an “underperform” rating and set a $22.00 target price for the company. in a research note on Wednesday, January 21st. Jefferies Financial Group cut their price objective on Kraft Heinz from $24.00 to $23.00 and set a “hold” rating for the company in a research report on Tuesday, January 20th. Weiss Ratings reiterated a “sell (d)” rating on shares of Kraft Heinz in a research note on Thursday, January 22nd. JPMorgan Chase & Co. dropped their price target on Kraft Heinz from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 21st. Finally, The Goldman Sachs Group reduced their price objective on shares of Kraft Heinz from $30.00 to $27.00 in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $26.16.

Insider Activity

In other news, insider Miguel Patricio sold 125,000 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $24.82, for a total value of $3,102,500.00. Following the transaction, the insider directly owned 686,817 shares of the company’s stock, valued at $17,046,797.94. The trade was a 15.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is owned by corporate insiders.

Kraft Heinz Trading Up 0.8%

KHC opened at $24.64 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.73. Kraft Heinz Company has a fifty-two week low of $21.99 and a fifty-two week high of $33.35. The company’s 50 day moving average price is $24.02 and its two-hundred day moving average price is $25.45. The firm has a market capitalization of $29.17 billion, a price-to-earnings ratio of -6.61 and a beta of 0.08.

About Kraft Heinz

The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. The combination created one of the largest packaged-food companies in the world, built around well-known consumer brands. The merger was supported by major investors and established a multi-national platform for branded food products.

Kraft Heinz develops, manufactures, markets and distributes a broad portfolio of branded packaged foods and condiments.