The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. lowered its stake in The Kraft Heinz Company (NASDAQ:KHC) by 10.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,288 shares of the company’s stock after selling 15,649 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Kraft Heinz were worth $4,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Kraft Heinz by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 70,398,831 shares of the company’s stock valued at $2,603,349,000 after purchasing an additional 183,234 shares during the last quarter. LSV Asset Management lifted its holdings in shares of Kraft Heinz by 2.1% in the 2nd quarter. LSV Asset Management now owns 9,107,688 shares of the company’s stock valued at $293,450,000 after buying an additional 189,000 shares during the period. Legal & General Group Plc lifted its holdings in shares of Kraft Heinz by 9.7% in the 2nd quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock valued at $292,061,000 after buying an additional 799,581 shares during the period. Capital World Investors lifted its holdings in shares of Kraft Heinz by 83.4% in the 1st quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock valued at $321,388,000 after buying an additional 3,961,872 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Kraft Heinz by 47.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock valued at $178,379,000 after buying an additional 1,778,263 shares during the period. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Price Performance

Shares of NASDAQ:KHC opened at $34.83 on Friday. The stock has a fifty day moving average of $35.15 and a 200-day moving average of $35.02. The company has a market capitalization of $42.11 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 3.39 and a beta of 0.49. The Kraft Heinz Company has a one year low of $30.68 and a one year high of $38.96. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.53 and a current ratio of 1.01.

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

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend was Friday, August 30th. Kraft Heinz’s payout ratio is 102.56%.

Analyst Ratings Changes

Several equities analysts recently issued reports on KHC shares. The Goldman Sachs Group started coverage on Kraft Heinz in a report on Monday, August 12th. They set a “sell” rating and a $34.00 price objective for the company. Piper Sandler reduced their price objective on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, June 20th. Bank of America reduced their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Barclays lifted their price objective on Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, Evercore ISI cut their price target on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. 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, the stock presently has a consensus rating of “Hold” and an average target price of $37.55.

Insiders Place Their Bets

In other news, insider Cory Onell sold 4,076 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $36.00, for a total value of $146,736.00. Following the sale, the insider now directly owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.32% of the company’s stock.

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.