Atlantic Union Bankshares Corp Has $842,000 Stake in Kraft Heinz Company $KHC

Atlantic Union Bankshares Corp lifted its position in Kraft Heinz Company (NASDAQ:KHC) by 3,792.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 32,347 shares of the company’s stock after buying an additional 31,516 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Kraft Heinz were worth $842,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Rakuten Securities Inc. increased its stake in shares of Kraft Heinz by 172.4% during the 2nd quarter. Rakuten Securities Inc. now owns 1,245 shares of the company’s stock worth $32,000 after purchasing an additional 788 shares during the last quarter. Cape Investment Advisory Inc. boosted its holdings in Kraft Heinz by 164.7% in the second quarter. Cape Investment Advisory Inc. now owns 1,297 shares of the company’s stock worth $33,000 after purchasing an additional 807 shares in the last quarter. Mid American Wealth Advisory Group Inc. acquired a new position in Kraft Heinz during the second quarter worth $39,000. Albion Financial Group UT bought a new position in Kraft Heinz during the third quarter valued at about $43,000. Finally, MV Capital Management Inc. lifted its position in shares of Kraft Heinz by 300.7% in the second quarter. MV Capital Management Inc. now owns 1,735 shares of the company’s stock worth $45,000 after buying an additional 1,302 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Trading Up 2.6%

Shares of KHC stock opened at $24.48 on Thursday. The firm has a market capitalization of $28.98 billion, a P/E ratio of -6.56 and a beta of 0.08. Kraft Heinz Company has a 1 year low of $21.99 and a 1 year high of $33.35. The firm’s fifty day simple moving average is $24.06 and its 200 day simple moving average is $25.50. The company has a current ratio of 1.13, a quick ratio of 0.73 and a debt-to-equity ratio of 0.46.

Insider Activity

In other news, insider Miguel Patricio sold 125,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider owned 686,817 shares of the company’s stock, valued at approximately $17,046,797.94. This represents a 15.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on KHC. UBS Group reissued a “neutral” rating on shares of Kraft Heinz in a report on Tuesday. Exane BNP Paribas downgraded Kraft Heinz from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 21st. The Goldman Sachs Group reduced their price objective on shares of Kraft Heinz from $30.00 to $27.00 in a research note on Thursday, October 30th. Morgan Stanley lowered their target price on shares of Kraft Heinz from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 30th. Finally, Wells Fargo & Company dropped their target price on shares of Kraft Heinz from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $26.16.

Kraft Heinz Company Profile

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.