GLOBALT Investments LLC GA Lowers Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

GLOBALT Investments LLC GA cut its stake in The Kraft Heinz Company (NASDAQ:KHC) by 4.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 193,603 shares of the company’s stock after selling 8,014 shares during the period. GLOBALT Investments LLC GA’s holdings in Kraft Heinz were worth $6,797,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. MADDEN SECURITIES Corp boosted its holdings in Kraft Heinz by 2.4% in the third quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock valued at $448,000 after purchasing an additional 303 shares during the period. HB Wealth Management LLC lifted its holdings in Kraft Heinz by 2.5% during the 2nd quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock worth $419,000 after buying an additional 314 shares during the last quarter. Axiom Advisory LLC lifted its holdings in Kraft Heinz by 5.2% during the 3rd quarter. Axiom Advisory LLC now owns 6,594 shares of the company’s stock worth $227,000 after buying an additional 327 shares during the last quarter. Norden Group LLC lifted its holdings in Kraft Heinz by 3.8% during the 2nd quarter. Norden Group LLC now owns 9,321 shares of the company’s stock worth $300,000 after buying an additional 339 shares during the last quarter. Finally, Valley Wealth Managers Inc. lifted its holdings in Kraft Heinz by 46.4% during the 2nd quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock worth $35,000 after buying an additional 340 shares during the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Kraft Heinz

In related 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 value of $1,505,250.00. Following the sale, the executive vice president now owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Kraft Heinz Stock Performance

Shares of KHC stock opened at $31.14 on Monday. The stock has a market capitalization of $37.65 billion, a PE ratio of 28.05, a price-to-earnings-growth ratio of 3.56 and a beta of 0.49. The Kraft Heinz Company has a 52-week low of $30.40 and a 52-week high of $38.96. The stock’s 50-day moving average price is $34.53 and its 200 day moving average price is $34.42. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, beating 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 company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. During the same quarter in the previous year, the company earned $0.72 EPS. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, equities research analysts forecast that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz’s dividend payout ratio is presently 144.14%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on KHC. Wells Fargo & Company lifted their price target on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. The Goldman Sachs Group decreased their price target on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a report on Thursday, October 31st. Barclays decreased their price target on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Mizuho cut their target price on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Finally, Evercore ISI cut their target price on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Kraft Heinz currently has an average rating of “Hold” and an average target price of $37.00.

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.