Plato Investment Management Ltd Has $1.60 Million Stake in Kraft Heinz Company $KHC

Plato Investment Management Ltd boosted its position in shares of Kraft Heinz Company (NASDAQ:KHC) by 227.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 62,052 shares of the company’s stock after purchasing an additional 43,073 shares during the period. Plato Investment Management Ltd’s holdings in Kraft Heinz were worth $1,604,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Rakuten Securities Inc. lifted its stake in Kraft Heinz by 172.4% in the 2nd quarter. Rakuten Securities Inc. now owns 1,245 shares of the company’s stock worth $32,000 after acquiring an additional 788 shares in the last quarter. Cape Investment Advisory Inc. increased its holdings in shares of Kraft Heinz by 164.7% in the 2nd quarter. Cape Investment Advisory Inc. now owns 1,297 shares of the company’s stock valued at $33,000 after purchasing an additional 807 shares during the period. Sentry Investment Management LLC acquired a new position in shares of Kraft Heinz in the 3rd quarter valued at about $38,000. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Kraft Heinz in the second quarter worth approximately $39,000. Finally, Albion Financial Group UT purchased a new stake in shares of Kraft Heinz in the third quarter worth approximately $43,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Insider Activity at Kraft Heinz

In other news, insider Miguel Patricio sold 125,000 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $24.82, for a total transaction of $3,102,500.00. Following the transaction, the insider owned 686,817 shares of the company’s stock, valued at approximately $17,046,797.94. This represents a 15.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on KHC. Barclays lowered their price objective on shares of Kraft Heinz from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 30th. Zacks Research upgraded shares of Kraft Heinz from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Sanford C. Bernstein cut their price objective on Kraft Heinz from $30.00 to $27.00 and set a “market perform” rating for the company in a report on Tuesday, October 28th. Weiss Ratings reissued a “sell (d)” rating on shares of Kraft Heinz in a research report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. dropped their target price on Kraft Heinz from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Kraft Heinz currently has a consensus rating of “Reduce” and a consensus price target of $26.16.

Kraft Heinz Trading Up 0.8%

Shares of NASDAQ:KHC opened at $24.64 on Monday. The company has a current ratio of 1.13, a quick ratio of 0.73 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $29.17 billion, a PE ratio of -6.61 and a beta of 0.08. Kraft Heinz Company has a 1 year low of $21.99 and a 1 year high of $33.35. The firm has a fifty day moving average price of $24.02 and a 200 day moving average price of $25.43.

Kraft Heinz Profile

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.