Diversified Trust Co Acquires 4,865 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Diversified Trust Co grew its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 51.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,401 shares of the company’s stock after purchasing an additional 4,865 shares during the period. Diversified Trust Co’s holdings in Kraft Heinz were worth $506,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in KHC. Welch Group LLC grew its stake in Kraft Heinz by 1.9% in the first quarter. Welch Group LLC now owns 14,868 shares of the company’s stock valued at $549,000 after purchasing an additional 272 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of Kraft Heinz by 13.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,423 shares of the company’s stock valued at $89,000 after buying an additional 282 shares in the last quarter. Integrated Advisors Network LLC increased its holdings in Kraft Heinz by 2.4% during the fourth quarter. Integrated Advisors Network LLC now owns 12,881 shares of the company’s stock worth $476,000 after buying an additional 301 shares during the last quarter. HB Wealth Management LLC raised its position in Kraft Heinz by 2.5% during the second quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock worth $419,000 after acquiring an additional 314 shares in the last quarter. Finally, Lorne Steinberg Wealth Management Inc. lifted its stake in Kraft Heinz by 0.3% in the first quarter. Lorne Steinberg Wealth Management Inc. now owns 109,600 shares of the company’s stock valued at $4,044,000 after acquiring an additional 335 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Price Performance

NASDAQ:KHC opened at $34.83 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.53 and a current ratio of 1.01. The firm has a market cap of $42.29 billion, a price-to-earnings ratio of 15.21, a P/E/G ratio of 3.39 and a beta of 0.49. The Kraft Heinz Company has a 52 week low of $30.68 and a 52 week high of $38.96. The firm’s 50-day simple moving average is $35.15 and its 200 day simple moving average is $35.02.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. The company had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.79 earnings per share. As a group, sell-side analysts predict that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.59%. The ex-dividend date of this dividend was Friday, August 30th. Kraft Heinz’s dividend payout ratio (DPR) is currently 69.87%.

Insider Buying and Selling

In related news, insider Cory Onell sold 4,076 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the completion of the sale, the insider now owns 143,970 shares of the company’s stock, valued at $5,182,920. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Evercore ISI dropped their price objective on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Piper Sandler reduced their target price on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, June 20th. The Goldman Sachs Group started coverage on Kraft Heinz in a research note on Monday, August 12th. They issued a “sell” rating and a $34.00 price target on the stock. Finally, Bank of America reduced their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Kraft Heinz has an average rating of “Hold” and a consensus price target of $37.55.

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.