Kraft Heinz Company $KHC Shares Bought by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp grew its holdings in shares of Kraft Heinz Company (NASDAQ:KHC) by 3,792.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,347 shares of the company’s stock after purchasing an additional 31,516 shares during the period. Atlantic Union Bankshares Corp’s holdings in Kraft Heinz were worth $842,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Bridges Investment Management Inc. lifted its stake in Kraft Heinz by 10.2% during the third quarter. Bridges Investment Management Inc. now owns 37,667 shares of the company’s stock valued at $981,000 after purchasing an additional 3,479 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Kraft Heinz by 18.0% in the third quarter. Jones Financial Companies Lllp now owns 202,561 shares of the company’s stock valued at $5,277,000 after buying an additional 30,901 shares in the last quarter. Lebenthal Global Advisors LLC acquired a new stake in shares of Kraft Heinz during the 3rd quarter valued at $783,000. Mutual Advisors LLC boosted its stake in shares of Kraft Heinz by 20.6% during the 3rd quarter. Mutual Advisors LLC now owns 27,507 shares of the company’s stock worth $699,000 after acquiring an additional 4,698 shares in the last quarter. Finally, Frank Rimerman Advisors LLC grew its holdings in shares of Kraft Heinz by 88.2% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 30,685 shares of the company’s stock worth $799,000 after acquiring an additional 14,377 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Stock Performance

KHC stock opened at $24.48 on Thursday. The firm has a 50 day simple moving average of $24.06 and a 200 day simple moving average of $25.50. Kraft Heinz Company has a 52 week low of $21.99 and a 52 week high of $33.35. The stock has a market cap of $28.98 billion, a P/E ratio of -6.56 and a beta of 0.08. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.73 and a current ratio of 1.13.

Insider Activity

In other news, insider Miguel Patricio sold 125,000 shares of the business’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $24.82, for a total transaction of $3,102,500.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.35% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Piper Sandler upped their target price on Kraft Heinz from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Monday, December 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Kraft Heinz in a research note on Thursday, January 22nd. Barclays decreased their target price on shares of Kraft Heinz from $26.00 to $24.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. The Goldman Sachs Group cut their price target on shares of Kraft Heinz from $30.00 to $27.00 in a report on Thursday, October 30th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Kraft Heinz in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $26.16.

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.