Principal Financial Group Inc. Cuts Stock Holdings in Kraft Heinz Company $KHC

Principal Financial Group Inc. lowered its stake in Kraft Heinz Company (NASDAQ:KHC) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,022,681 shares of the company’s stock after selling 28,400 shares during the period. Principal Financial Group Inc. owned approximately 0.09% of Kraft Heinz worth $26,631,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of KHC. Generali Asset Management SPA SGR lifted its position in Kraft Heinz by 192.4% in the third quarter. Generali Asset Management SPA SGR now owns 81,260 shares of the company’s stock valued at $2,116,000 after purchasing an additional 53,467 shares during the last quarter. Fairfax Financial Holdings Ltd. Can grew its holdings in shares of Kraft Heinz by 45.4% in the second quarter. Fairfax Financial Holdings Ltd. Can now owns 4,884,000 shares of the company’s stock worth $126,056,000 after purchasing an additional 1,525,000 shares during the last quarter. First Horizon Corp purchased a new position in shares of Kraft Heinz in the third quarter worth $4,678,000. Savoir Faire Capital Management L.P. bought a new stake in Kraft Heinz during the 3rd quarter valued at $12,923,000. Finally, CWM LLC raised its holdings in Kraft Heinz by 9.3% during the 3rd quarter. CWM LLC now owns 749,575 shares of the company’s stock valued at $19,519,000 after buying an additional 63,532 shares during the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kraft Heinz

In related news, insider Miguel Patricio sold 125,000 shares of Kraft Heinz stock in a transaction that occurred on 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 sale, the insider directly owned 686,817 shares in the company, valued at $17,046,797.94. The trade was a 15.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.35% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KHC. Evercore decreased their price objective on shares of Kraft Heinz from $28.00 to $25.00 in a research report on Friday, January 9th. Piper Sandler raised their target price on Kraft Heinz from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Monday, December 15th. Morgan Stanley lowered their price target on Kraft Heinz from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Thursday, October 30th. Zacks Research upgraded Kraft Heinz from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Kraft Heinz in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $26.16.

Kraft Heinz Stock Performance

Shares of KHC opened at $24.64 on Friday. Kraft Heinz Company has a one year low of $21.99 and a one year high of $33.35. The company has a 50-day simple moving average of $24.02 and a two-hundred day simple moving average of $25.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.73. The firm has a market capitalization of $29.17 billion, a PE 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.