Independence Bank of Kentucky Increases Position in The Kraft Heinz Company (NASDAQ:KHC)

Independence Bank of Kentucky boosted its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 919.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,152 shares of the company’s stock after purchasing an additional 1,941 shares during the period. Independence Bank of Kentucky’s holdings in Kraft Heinz were worth $66,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. MADDEN SECURITIES Corp lifted its position in shares of Kraft Heinz by 2.4% during the third quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock worth $448,000 after purchasing an additional 303 shares during the last quarter. Axiom Advisory LLC grew its position in shares of Kraft Heinz by 5.2% in the 3rd quarter. Axiom Advisory LLC now owns 6,594 shares of the company’s stock worth $227,000 after acquiring an additional 327 shares in the last quarter. Trust Co. of Vermont increased its holdings in shares of Kraft Heinz by 3.6% in the 3rd quarter. Trust Co. of Vermont now owns 10,388 shares of the company’s stock valued at $365,000 after acquiring an additional 358 shares during the last quarter. Winch Advisory Services LLC raised its position in shares of Kraft Heinz by 20.1% during the 4th quarter. Winch Advisory Services LLC now owns 2,274 shares of the company’s stock valued at $70,000 after acquiring an additional 380 shares in the last quarter. Finally, Pinnacle Financial Partners Inc lifted its stake in Kraft Heinz by 4.2% during the third quarter. Pinnacle Financial Partners Inc now owns 9,560 shares of the company’s stock worth $336,000 after purchasing an additional 381 shares during the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on KHC shares. JPMorgan Chase & Co. dropped their target price on shares of Kraft Heinz from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday. Mizuho dropped their price objective on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Barclays decreased their target price on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Citigroup dropped their price target on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Finally, TD Cowen reduced their price objective on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $34.07.

Kraft Heinz Stock Performance

Shares of NASDAQ KHC opened at $29.84 on Monday. The Kraft Heinz Company has a 52-week low of $28.37 and a 52-week high of $38.96. The stock has a market capitalization of $36.08 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 3.80 and a beta of 0.48. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The stock’s fifty day simple moving average is $30.41 and its 200 day simple moving average is $33.03.

Insider Buying and Selling

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the completion of the sale, the executive vice president now owns 168,195 shares in the company, valued at $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is currently owned by company insiders.

Kraft Heinz Company Profile

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.