Manning & Napier Advisors LLC Trims Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Manning & Napier Advisors LLC reduced its stake in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 9.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 366,117 shares of the company's stock after selling 36,355 shares during the quarter. Manning & Napier Advisors LLC's holdings in Kraft Heinz were worth $11,243,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. MADDEN SECURITIES Corp increased its holdings in Kraft Heinz by 2.4% in the 3rd quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company's stock worth $448,000 after acquiring an additional 303 shares during the last quarter. Axiom Advisory LLC raised its position in shares of Kraft Heinz by 5.2% in the third quarter. Axiom Advisory LLC now owns 6,594 shares of the company's stock valued at $227,000 after purchasing an additional 327 shares during the period. Trust Co. of Vermont boosted its holdings in Kraft Heinz by 3.6% in the 3rd quarter. Trust Co. of Vermont now owns 10,388 shares of the company's stock worth $365,000 after buying an additional 358 shares during the period. Winch Advisory Services LLC grew its stake in Kraft Heinz by 20.1% in the 4th quarter. Winch Advisory Services LLC now owns 2,274 shares of the company's stock valued at $70,000 after buying an additional 380 shares in the last quarter. Finally, Pinnacle Financial Partners Inc raised its holdings in Kraft Heinz by 4.2% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 9,560 shares of the company's stock valued at $336,000 after acquiring an additional 381 shares during the period. Institutional investors own 78.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on KHC. Stifel Nicolaus decreased their price objective on Kraft Heinz from $35.00 to $32.00 and set a "hold" rating on the stock in a research note on Friday, January 24th. The Goldman Sachs Group decreased their price target on Kraft Heinz from $34.00 to $32.00 and set a "sell" rating on the stock in a research report on Thursday, October 31st. Piper Sandler restated a "neutral" rating and issued a $35.00 price objective (down from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. Wells Fargo & Company cut their price target on shares of Kraft Heinz from $35.00 to $31.00 and set an "equal weight" rating for the company in a report on Tuesday, January 7th. Finally, 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 report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $34.43.

Insider Activity

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the completion of the sale, the executive vice president now directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.32% of the company's stock.

Kraft Heinz Price Performance

Shares of Kraft Heinz stock traded up $0.51 during trading on Thursday, hitting $30.17. 3,027,032 shares of the stock traded hands, compared to its average volume of 8,716,453. The firm's fifty day moving average is $30.47 and its 200-day moving average is $33.07. The stock has a market cap of $36.48 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 3.45 and a beta of 0.48. The Kraft Heinz Company has a 52 week low of $28.37 and a 52 week high of $38.96. 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 - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.01. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The business's quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.72 EPS. Research analysts expect that The Kraft Heinz Company will post 3 EPS for the current fiscal year.

Kraft Heinz Company 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.