Sumitomo Mitsui Trust Group Inc. Grows Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Sumitomo Mitsui Trust Group Inc. boosted its position in The Kraft Heinz Company (NASDAQ:KHC) by 1.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,638,422 shares of the company’s stock after purchasing an additional 47,335 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Kraft Heinz were worth $92,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. OVERSEA CHINESE BANKING Corp Ltd increased its position in Kraft Heinz by 16.7% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 33,560 shares of the company’s stock worth $1,168,000 after buying an additional 4,795 shares during the last quarter. Venturi Wealth Management LLC increased its position in Kraft Heinz by 43.5% in the third quarter. Venturi Wealth Management LLC now owns 2,948 shares of the company’s stock worth $104,000 after buying an additional 894 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Kraft Heinz in the third quarter worth $27,000. Los Angeles Capital Management LLC grew its position in shares of Kraft Heinz by 1,760.8% in the third quarter. Los Angeles Capital Management LLC now owns 655,312 shares of the company’s stock valued at $23,008,000 after purchasing an additional 620,096 shares in the last quarter. Finally, River Global Investors LLP grew its position in shares of Kraft Heinz by 3.6% in the third quarter. River Global Investors LLP now owns 58,313 shares of the company’s stock valued at $2,046,000 after purchasing an additional 2,020 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 transaction, the executive vice president now owns 168,195 shares in the company, valued at approximately $5,626,122.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.32% of the company’s stock.

Kraft Heinz Trading Up 0.4 %

NASDAQ KHC opened at $32.13 on Thursday. The Kraft Heinz Company has a 1-year low of $31.58 and a 1-year high of $38.96. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average of $34.79 and a 200-day moving average of $34.55. The firm has a market cap of $38.85 billion, a PE ratio of 28.95, a price-to-earnings-growth ratio of 3.65 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. Kraft Heinz’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 EPS. As a group, sell-side analysts forecast that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz’s payout ratio is 144.14%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Stifel Nicolaus cut Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price target for the company from $40.00 to $38.00 in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft cut Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price target for the company from $39.00 to $35.00 in a research report on Thursday, October 31st. Citigroup reduced their price target on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Mizuho reduced their target price on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group reduced their target price on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research report on Thursday, October 31st. One 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 has an average rating of “Hold” and a consensus price target of $37.25.

Kraft Heinz 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.