Infrastructure Capital Advisors LLC Sells 392 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Infrastructure Capital Advisors LLC cut its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 1.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,551 shares of the company’s stock after selling 392 shares during the period. Infrastructure Capital Advisors LLC’s holdings in Kraft Heinz were worth $1,143,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. 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 worth $178,379,000 after purchasing an additional 1,778,263 shares during 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 worth $51,086,000 after purchasing an additional 1,156,712 shares during 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 worth $37,686,000 after purchasing an additional 845,490 shares during the last quarter. Poplar Forest Capital LLC purchased a new position in Kraft Heinz in the second quarter valued at about $26,353,000. Finally, Legal & General Group Plc boosted its stake in Kraft Heinz by 9.7% in the second quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock valued at $292,061,000 after acquiring an additional 799,581 shares during the last quarter. 78.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on KHC shares. Mizuho dropped their target price 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. Wells Fargo & Company boosted their target price on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Piper Sandler reiterated a “neutral” rating and issued a $35.00 target price (down from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. Barclays decreased their price target on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and reduced their target price for the company from $39.00 to $35.00 in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Kraft Heinz currently has a consensus rating of “Hold” and an average target price of $36.55.

Kraft Heinz Trading Down 0.1 %

NASDAQ:KHC opened at $31.93 on Friday. The company has a 50-day moving average price of $33.83 and a 200-day moving average price of $34.16. The Kraft Heinz Company has a 12 month low of $30.40 and a 12 month 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 market cap of $38.61 billion, a price-to-earnings ratio of 28.77, a P/E/G ratio of 3.65 and a beta of 0.49.

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

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be paid a $0.40 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 5.01%. Kraft Heinz’s payout ratio is 144.14%.

Insider Buying and Selling

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the completion of the sale, the executive vice president now directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is 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.