Wasatch Advisors LP Has $2.56 Million Stake in The Kraft Heinz Company (NASDAQ:KHC)

Wasatch Advisors LP trimmed its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 35.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,961 shares of the company’s stock after selling 40,039 shares during the period. Wasatch Advisors LP’s holdings in Kraft Heinz were worth $2,562,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Fortitude Family Office LLC grew its stake in Kraft Heinz by 249.5% during the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after buying an additional 529 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Kraft Heinz in the 3rd quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. boosted its stake in shares of Kraft Heinz by 1,077.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after purchasing an additional 797 shares in the last quarter. Bangor Savings Bank acquired a new stake in shares of Kraft Heinz in the 3rd quarter valued at approximately $32,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Kraft Heinz in the 3rd quarter valued at approximately $33,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on KHC shares. Piper Sandler restated a “neutral” rating and issued a $35.00 price target (down from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. Stifel Nicolaus downgraded shares of 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 note on Friday, October 25th. Mizuho reduced their price target 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. The Goldman Sachs Group reduced their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a research note on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and cut their target price for the stock from $39.00 to $35.00 in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Kraft Heinz presently has an average rating of “Hold” and a consensus target price of $36.55.

Insider Activity

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction on 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.32% of the company’s stock.

Kraft Heinz Trading Up 1.4 %

NASDAQ:KHC opened at $31.97 on Monday. The firm’s fifty day moving average is $33.77 and its 200-day moving average is $34.10. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06. The Kraft Heinz Company has a 52 week low of $30.40 and a 52 week high of $38.96. The firm has a market cap of $38.66 billion, a P/E ratio of 28.80, a P/E/G ratio of 3.65 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. During the same period in the prior year, the firm posted $0.72 EPS. The company’s quarterly revenue was down 2.8% on a year-over-year basis. Equities analysts expect that The Kraft Heinz Company will post 3.01 earnings per share for the current year.

Kraft Heinz Announces Dividend

The company 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 $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz’s dividend payout ratio is currently 144.14%.

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.