Pathstone Family Office LLC increased its holdings in The Kraft Heinz Company (NASDAQ:KHC – Free Report) by 243.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,090 shares of the company’s stock after buying an additional 27,000 shares during the quarter. Pathstone Family Office LLC’s holdings in Kraft Heinz were worth $1,287,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Independent Advisor Alliance grew its stake in shares of Kraft Heinz by 1.7% during the 2nd quarter. Independent Advisor Alliance now owns 32,609 shares of the company’s stock valued at $1,158,000 after acquiring an additional 559 shares during the period. Merit Financial Group LLC boosted its position in shares of Kraft Heinz by 8.4% in the second quarter. Merit Financial Group LLC now owns 6,132 shares of the company’s stock worth $218,000 after purchasing an additional 476 shares during the period. Victory Capital Management Inc. raised its position in shares of Kraft Heinz by 16.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,768,073 shares of the company’s stock valued at $59,478,000 after purchasing an additional 247,896 shares during the period. Bayesian Capital Management LP purchased a new position in shares of Kraft Heinz during the 2nd quarter valued at $4,377,000. Finally, LSV Asset Management boosted its holdings in Kraft Heinz by 27.1% in the 3rd quarter. LSV Asset Management now owns 9,263,400 shares of the company’s stock worth $311,621,000 after buying an additional 1,977,571 shares during the period. 75.39% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Miguel Patricio sold 131,500 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $38.02, for a total transaction of $4,999,630.00. Following the sale, the director now owns 992,049 shares in the company, valued at approximately $37,717,702.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Miguel Patricio sold 131,500 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $38.02, for a total transaction of $4,999,630.00. Following the transaction, the director now directly owns 992,049 shares in the company, valued at approximately $37,717,702.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lande Rashida La sold 13,238 shares of the stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $35.00, for a total transaction of $463,330.00. Following the completion of the sale, the chief accounting officer now directly owns 153,494 shares in the company, valued at $5,372,290. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.
Kraft Heinz Stock Up 1.1 %
Analysts Set New Price Targets
KHC has been the topic of several research analyst reports. Sanford C. Bernstein upgraded Kraft Heinz from a “market perform” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research report on Tuesday, November 14th. Morgan Stanley lowered their price target on Kraft Heinz from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, November 2nd. Bank of America cut their price objective on shares of Kraft Heinz from $48.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, October 17th. Citigroup started coverage on shares of Kraft Heinz in a report on Thursday, February 1st. They issued a “buy” rating and a $43.00 target price on the stock. Finally, Piper Sandler raised their target price on shares of Kraft Heinz from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Kraft Heinz currently has a consensus rating of “Hold” and a consensus price target of $40.60.
About Kraft Heinz
The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.
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