Bell Bank Has $6.96 Million Position in The Kraft Heinz Company (NASDAQ:KHC)

Bell Bank trimmed its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 15.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 198,274 shares of the company’s stock after selling 35,801 shares during the quarter. Bell Bank’s holdings in Kraft Heinz were worth $6,961,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital World Investors boosted its position in Kraft Heinz by 83.4% during the 1st quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock worth $321,388,000 after buying an additional 3,961,872 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Kraft Heinz by 47.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock worth $178,379,000 after purchasing an additional 1,778,263 shares during the period. Marshall Wace LLP grew its stake in shares of Kraft Heinz by 260.8% in the second quarter. Marshall Wace LLP now owns 1,169,657 shares of the company’s stock worth $37,686,000 after purchasing an additional 845,490 shares during the last quarter. Poplar Forest Capital LLC acquired a new stake in Kraft Heinz in the second quarter valued at $26,353,000. Finally, Legal & General Group Plc raised its position in Kraft Heinz by 9.7% during the 2nd quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock worth $292,061,000 after purchasing an additional 799,581 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction that occurred 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 completion of 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 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

KHC has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lowered Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price target for the company from $39.00 to $35.00 in a research report on Thursday, October 31st. The Goldman Sachs Group decreased their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research report on Thursday, October 31st. Piper Sandler dropped their price target on shares of Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Mizuho decreased their price objective on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, Stifel Nicolaus downgraded Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price target for the stock from $40.00 to $38.00 in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $37.25.

Kraft Heinz Price Performance

Shares of NASDAQ:KHC opened at $32.13 on Thursday. The firm has a market capitalization of $38.85 billion, a price-to-earnings ratio of 28.95, a PEG ratio of 3.65 and a beta of 0.49. The stock’s 50 day moving average is $34.79 and its 200-day moving average is $34.55. The Kraft Heinz Company has a twelve month low of $31.58 and a twelve month high of $38.96. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The business had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.42 billion. During the same period in the previous year, the company earned $0.72 earnings per share. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. Sell-side analysts forecast that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 4.98%. Kraft Heinz’s payout ratio is currently 144.14%.

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.