Principal Financial Group Inc. Sells 28,400 Shares of Kraft Heinz Company $KHC

Principal Financial Group Inc. lowered its holdings in shares of Kraft Heinz Company (NASDAQ:KHC) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,022,681 shares of the company’s stock after selling 28,400 shares during the period. Principal Financial Group Inc.’s holdings in Kraft Heinz were worth $26,631,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Kraft Heinz by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 102,435,702 shares of the company’s stock worth $2,644,890,000 after purchasing an additional 454,868 shares in the last quarter. State Street Corp raised its stake in Kraft Heinz by 1.0% during the second quarter. State Street Corp now owns 46,376,394 shares of the company’s stock valued at $1,197,438,000 after buying an additional 462,963 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Kraft Heinz by 14.7% in the second quarter. Geode Capital Management LLC now owns 26,446,203 shares of the company’s stock worth $681,663,000 after acquiring an additional 3,392,470 shares in the last quarter. Invesco Ltd. boosted its holdings in Kraft Heinz by 7.1% in the second quarter. Invesco Ltd. now owns 17,584,674 shares of the company’s stock worth $454,036,000 after acquiring an additional 1,171,262 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of Kraft Heinz by 75.1% in the third quarter. Nordea Investment Management AB now owns 13,694,483 shares of the company’s stock worth $351,263,000 after acquiring an additional 5,873,967 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Trading Up 0.8%

Shares of KHC stock opened at $24.64 on Friday. The firm has a fifty day moving average price of $24.02 and a 200-day moving average price of $25.47. Kraft Heinz Company has a 1 year low of $21.99 and a 1 year high of $33.35. 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 company has a market cap of $29.17 billion, a price-to-earnings ratio of -6.61 and a beta of 0.08.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Jefferies Financial Group lowered their price target on Kraft Heinz from $24.00 to $23.00 and set a “hold” rating for the company in a research report on Tuesday, January 20th. Sanford C. Bernstein reduced their price objective on shares of Kraft Heinz from $30.00 to $27.00 and set a “market perform” rating for the company in a research note on Tuesday, October 28th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Kraft Heinz from $27.00 to $26.00 in a research note on Thursday, October 30th. Evercore cut their price target on shares of Kraft Heinz from $28.00 to $25.00 in a report on Friday, January 9th. Finally, Barclays decreased their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Kraft Heinz currently has a consensus rating of “Reduce” and a consensus target price of $26.16.

Insider Activity at Kraft Heinz

In other Kraft Heinz news, insider Miguel Patricio sold 125,000 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $24.82, for a total value of $3,102,500.00. Following the completion of the sale, the insider owned 686,817 shares in the company, valued at approximately $17,046,797.94. This represents a 15.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.35% of the stock is owned by insiders.

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.