The Kraft Heinz Company (NASDAQ:KHC) Stake Lowered by Heathbridge Capital Management Ltd.

Heathbridge Capital Management Ltd. cut its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 0.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 344,750 shares of the company’s stock after selling 400 shares during the quarter. Kraft Heinz makes up about 4.6% of Heathbridge Capital Management Ltd.’s investment portfolio, making the stock its 10th largest position. Heathbridge Capital Management Ltd.’s holdings in Kraft Heinz were worth $12,104,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its stake in 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 acquiring an additional 282 shares in the last quarter. MADDEN SECURITIES Corp boosted its position in Kraft Heinz by 2.4% in the 3rd quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock worth $448,000 after purchasing an additional 303 shares in the last quarter. HB Wealth Management LLC boosted its holdings 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 buying an additional 314 shares in the last quarter. Axiom Advisory LLC grew its position in shares of Kraft Heinz by 5.2% during the 3rd quarter. Axiom Advisory LLC now owns 6,594 shares of the company’s stock valued at $227,000 after acquiring an additional 327 shares during the period. Finally, Lorne Steinberg Wealth Management Inc. increased its stake in shares of Kraft Heinz by 0.3% in the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 109,600 shares of the company’s stock valued at $4,044,000 after purchasing an additional 335 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Citigroup cut their price target on shares of Kraft Heinz from $41.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Piper Sandler reduced their target price on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, June 20th. Wells Fargo & Company upped their price objective 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. Deutsche Bank Aktiengesellschaft reduced their price target on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $37.55.

Kraft Heinz Stock Performance

Shares of Kraft Heinz stock opened at $35.95 on Friday. The stock has a market capitalization of $43.65 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 3.39 and a beta of 0.49. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53. The business has a 50-day moving average of $35.18 and a 200 day moving average of $34.99. The Kraft Heinz Company has a 12 month low of $31.08 and a 12 month high of $38.96.

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

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.45%. The ex-dividend date of this dividend was Friday, August 30th. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

Insider Activity at Kraft Heinz

In other news, insider Cory Onell sold 4,076 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $5,182,920. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is currently owned by corporate 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.