Quantum Private Wealth LLC Decreases Stake in The Kraft Heinz Company (NASDAQ:KHC)

Quantum Private Wealth LLC cut its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 30.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,000 shares of the company’s stock after selling 2,581 shares during the quarter. Quantum Private Wealth LLC’s holdings in Kraft Heinz were worth $211,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Norden Group LLC acquired a new position in Kraft Heinz during the first quarter worth $331,000. Jennison Associates LLC raised its holdings in Kraft Heinz by 34.6% during the first quarter. Jennison Associates LLC now owns 12,527 shares of the company’s stock worth $462,000 after purchasing an additional 3,220 shares during the last quarter. Empirical Finance LLC raised its holdings in Kraft Heinz by 3.8% during the first quarter. Empirical Finance LLC now owns 26,613 shares of the company’s stock worth $982,000 after purchasing an additional 964 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Kraft Heinz by 9.7% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 86,383 shares of the company’s stock worth $3,188,000 after purchasing an additional 7,604 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in Kraft Heinz by 116.9% during the first quarter. Empowered Funds LLC now owns 48,881 shares of the company’s stock worth $1,804,000 after purchasing an additional 26,344 shares during the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Kraft Heinz Price Performance

Shares of NASDAQ KHC opened at $32.72 on Friday. The Kraft Heinz Company has a 1-year low of $31.58 and a 1-year high of $38.96. The business has a 50-day moving average of $35.01 and a 200-day moving average of $34.74. 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 company has a market capitalization of $39.56 billion, a price-to-earnings ratio of 29.57, a PEG ratio of 3.81 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.42 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. The company’s revenue was down 2.8% compared to the same quarter last year. On average, equities analysts anticipate that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.89%. The ex-dividend date is Friday, November 29th. Kraft Heinz’s payout ratio is currently 144.14%.

Wall Street Analyst Weigh In

KHC has been the subject of several research reports. Mizuho reduced their price objective on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. JPMorgan Chase & Co. cut their price target on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Piper Sandler cut their price target on Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut Kraft Heinz from a “buy” rating to a “hold” rating and cut their price target for the stock from $39.00 to $35.00 in a report on Thursday, October 31st. Finally, Evercore ISI cut their price target on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $37.25.

Insider Buying and Selling at Kraft Heinz

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the sale, the executive vice president now owns 168,195 shares in the company, valued at $5,626,122.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.37% of the stock is currently owned by 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.