Ingalls & Snyder LLC boosted its position in shares of The Kraft Heinz Company (NASDAQ:KHC – Free Report) by 248.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 320,949 shares of the company’s stock after acquiring an additional 228,760 shares during the period. Ingalls & Snyder LLC’s holdings in Kraft Heinz were worth $11,269,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC acquired a new stake in Kraft Heinz during the third quarter valued at approximately $411,304,000. Dimensional Fund Advisors LP boosted its holdings in Kraft Heinz by 47.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock valued at $178,379,000 after purchasing an additional 1,778,263 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its holdings in Kraft Heinz by 387.7% during the third quarter. Thompson Siegel & Walmsley LLC now owns 1,455,033 shares of the company’s stock valued at $51,086,000 after purchasing an additional 1,156,712 shares in the last quarter. Marshall Wace LLP boosted its holdings in Kraft Heinz by 260.8% during the second quarter. Marshall Wace LLP now owns 1,169,657 shares of the company’s stock valued at $37,686,000 after purchasing an additional 845,490 shares in the last quarter. Finally, Poplar Forest Capital LLC acquired a new stake in Kraft Heinz during the second quarter valued at approximately $26,353,000. 78.17% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on KHC. The Goldman Sachs Group reduced their target price on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a report on Thursday, October 31st. Stifel Nicolaus downgraded Kraft Heinz from a “buy” rating to a “hold” rating and reduced their target price for the stock from $40.00 to $38.00 in a report on Friday, October 25th. Piper Sandler reissued a “neutral” rating and issued a $35.00 target price (down from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Citigroup reduced their price objective on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, Mizuho reduced their price objective on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Kraft Heinz presently has a consensus rating of “Hold” and an average target price of $36.55.
Kraft Heinz Stock Down 0.4 %
KHC stock traded down $0.12 during trading hours on Tuesday, reaching $31.49. 1,390,350 shares of the stock were exchanged, compared to its average volume of 7,994,198. The firm’s 50-day moving average is $33.77 and its 200-day moving average is $34.10. The company has a market cap of $38.08 billion, a price-to-earnings ratio of 28.48, a PEG ratio of 3.65 and a beta of 0.48. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. The Kraft Heinz Company has a 12 month low of $30.40 and a 12 month high of $38.96.
Kraft Heinz (NASDAQ:KHC – Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.42 billion. During the same quarter in the prior year, the company earned $0.72 EPS. The company’s revenue was down 2.8% on a year-over-year basis. On average, equities research analysts expect that The Kraft Heinz Company will post 3.01 earnings per share for the current year.
Kraft Heinz Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.08%. Kraft Heinz’s dividend payout ratio is 144.14%.
Insider Transactions at Kraft Heinz
In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total value of $1,505,250.00. Following the transaction, the executive vice president now directly owns 168,195 shares of the company’s stock, valued at $5,626,122.75. This represents a 21.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.37% of the company’s stock.
About Kraft Heinz
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.
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