The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP lessened its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 42.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 59,178 shares of the company’s stock after selling 44,176 shares during the quarter. Quantbot Technologies LP’s holdings in Kraft Heinz were worth $2,078,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Fortitude Family Office LLC lifted its holdings in Kraft Heinz by 249.5% in the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after purchasing an additional 529 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Kraft Heinz during the 3rd quarter worth about $27,000. DiNuzzo Private Wealth Inc. lifted 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 worth $31,000 after acquiring an additional 797 shares during the period. Asset Dedication LLC boosted its holdings in shares of Kraft Heinz by 94.8% in the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after acquiring an additional 476 shares in the last quarter. Finally, Bangor Savings Bank bought a new position in shares of Kraft Heinz in the third quarter valued at approximately $32,000. Institutional investors own 78.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on KHC shares. Piper Sandler restated a “neutral” rating and issued a $35.00 target price (down from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft cut Kraft Heinz from a “buy” rating to a “hold” rating and decreased their target price for the company from $39.00 to $35.00 in a research note on Thursday, October 31st. Wells Fargo & Company boosted their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Citigroup reduced their price objective on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group lowered their price objective 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.55.

Kraft Heinz Stock Down 0.1 %

Shares of NASDAQ:KHC opened at $31.93 on Friday. The firm has a 50 day simple moving average of $33.83 and a 200 day simple moving average of $34.16. The Kraft Heinz Company has a 52 week low of $30.40 and a 52 week high of $38.96. 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 company has a market cap of $38.61 billion, a PE ratio of 28.77, a price-to-earnings-growth ratio of 3.66 and a beta of 0.49.

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

Kraft Heinz Dividend Announcement

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

Insider Transactions at Kraft Heinz

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total value 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 approximately $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.37% of the stock is owned by 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.