September 17, 2023
Thompson Investment Management Inc. Reduces Holdings in The Kraft Heinz Company by 29.9%
According to the latest disclosure with the SEC, Thompson Investment Management Inc. has diminished its holdings in The Kraft Heinz Company (NASDAQ:KHC) by a significant 29.9% during the second quarter. The firm sold 4,085 shares of the company’s stock during this period, resulting in a fund ownership of 9,558 shares. These remaining shares were valued at approximately $339,000 as of the most recent reporting period.
Kraft Heinz (NASDAQ:KHC) recently released its quarterly earnings report on August 2nd. The company exceeded expectations with an EPS of $0.79 for the quarter, surpassing the consensus estimate of $0.74 by $0.05. Furthermore, Kraft Heinz achieved a return on equity of 7.45% and a net margin of 11.65%. Although it fell just slightly short of analyst estimates, recording revenue of $6.72 billion in comparison to the expected $6.80 billion, its results showed a solid growth rate with a revenue increase of 2.5% compared to the same period last year.
Sell-side analysts anticipate that The Kraft Heinz Company will achieve an earnings per share (EPS) of $2.89 for the current fiscal year.
In light of Thompson Investment Management Inc.’s reduced holdings, it is important to examine possible reasons for this decision and its implications on investor sentiment towards The Kraft Heinz Company.
Some factors that may have influenced Thompson Investment Management Inc.’s strategy could include changes in market conditions or shifts in their investment portfolios allocation strategy that prioritize other stocks over Kraft Heinz.
As one of the largest food and beverage companies globally, The Kraft Heinz Company operates with various well-known brands such as Kraft, Heinz, Oscar Mayer, and Philadelphia, just to name a few. While the decrease in Thompson Investment Management Inc.’s holdings may indicate a decrease in investor confidence, it is important to consider other factors that could influence investing decisions.
Investors are advised to conduct their own thorough research and analysis before making any investment decisions. Consulting our latest research report on Kraft Heinz can provide valuable insights into the company’s financial performance, market position, and future prospects. It is crucial to base investment decisions on well-informed data and an understanding of the broader business landscape.
Overall, the reduction in holdings by Thompson Investment Management Inc. warrants attention from investors interested in The Kraft Heinz Company. Examining the company’s recent earnings report and consulting authoritative research reports can contribute to a better understanding of its prospects going forward.
References:
– U.S. Securities and Exchange Commission (SEC)
– Analyst estimates
– The Kraft Heinz Company’s quarterly earnings report
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Hedge Funds and Institutional Investors Make Changes to Holdings of Kraft Heinz (NASDAQ:KHC): Insights and Analysis
In recent news, several hedge funds and institutional investors have made significant changes to their holdings of Kraft Heinz (NASDAQ:KHC). Good Life Advisors LLC, for instance, has increased its stake in the company by 3.5% during the first quarter. This led to them owning 7,199 shares of Kraft Heinz’s stock, valued at $278,000 after acquiring an additional 243 shares during this period. Similarly, Ellevest Inc. also increased its stake in the company by 30.6% during the same quarter, adding 249 more shares to their portfolio.
Another noteworthy example is Greenleaf Trust, which saw a 1.5% increase in its holdings of Kraft Heinz during the first quarter. The trust now owns 17,210 shares of the company’s stock with a value of $666,000 after purchasing an additional 257 shares. Ancora Advisors LLC experienced an even greater boost to its position in the first quarter by acquiring another 272 shares of Kraft Heinz’s stock – a substantial increase of 69.9%. Lastly, ICA Group Wealth Management LLC grew its stake by 10.5% during the first quarter to reach a total ownership of 3,165 shares.
These examples only scratch the surface when it comes to hedge funds and institutional investors modifying their holdings in recent times. In fact, data indicates that approximately 75.39% of Kraft Heinz’s stock is currently owned by hedge funds and other institutional investors.
Market analysts have also taken note of these developments in KHC investments and have provided their insights accordingly. StockNews.com recently covered Kraft Heinz and assigned a “hold” rating for the company based on their analysis. Additionally, Mizuho lowered their target price from $50 to $47 per share while Piper Sandler cut theirs from $43 to $41 per share back in July. Morgan Stanley underwent a similar reduction, adjusting their price objective down to $39 from the previous $44 per share. TD Cowen, on the other hand, recently initiated coverage on Kraft Heinz with a “market perform” rating and a target price of $35 per share. Altogether, these analysts have offered mixed ratings for the company, with one analyst giving it a sell rating, nine suggesting a hold rating, and three recommending a buy rating. The average rating according to Bloomberg is currently “Hold” with an average price target of $42.
In other news related to Kraft Heinz, its Chief Accounting Officer Lande Rashida La sold 16,453 shares of the company’s stock on August 7th at an average price of $35.07 per share. This resulted in a total value of $577,006.71 for the transaction. Following this sale, La now holds 206,243 shares of Kraft Heinz valued at approximately $7,232,942.01.
Moving to the stock performance itself, NASDAQ:KHC opened at $33.45 on September 17th. The company has experienced a 50-day moving average of $34.52 and a 200-day moving average of $36.95. With regards to financial ratios and metrics, Kraft Heinz has reported a quick ratio of 0.50 and a current ratio of 0.95 while maintaining a debt-to-equity ratio of 0.39. The company’s 52-week low stands at $32.42 compared to its high point at $42.80. Currently valued at approximately $41.09 billion in terms of market capitalization, Kraft Heinz operates with a price-to-earnings (P/E) ratio of 13.07 and has recorded a PEG ratio – which measures its price-to-earnings growth – at 2.47 along with a beta value indicating a relatively low level of volatility in comparison to the market at 0.68.
In conclusion, Kraft Heinz has recently experienced notable shifts in its ownership as various hedge funds and institutional investors have made adjustments to their stock holdings. Market analysts have weighed in on these developments with mixed ratings and price targets for the company. Additionally, an insider sale has taken place, impacting the amount of shares held by the Chief Accounting Officer. As for the stock itself, NASDAQ:KHC opened at $33.45 on September 17th, showcasing its volatility within a specified range over time.
