The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC lessened its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 18.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 29,390 shares of the company’s stock after selling 6,446 shares during the period. Summit Trail Advisors LLC’s holdings in Kraft Heinz were worth $1,032,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Larson Financial Group LLC boosted its holdings in shares of Kraft Heinz by 191.0% in the third quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock worth $34,000 after buying an additional 636 shares during the period. Swedbank AB boosted its stake in Kraft Heinz by 6.9% in the 3rd quarter. Swedbank AB now owns 775,689 shares of the company’s stock worth $27,234,000 after purchasing an additional 50,063 shares during the period. Pitcairn Co. purchased a new position in Kraft Heinz during the 3rd quarter worth approximately $228,000. Cerity Partners LLC raised its stake in Kraft Heinz by 5.5% during the 3rd quarter. Cerity Partners LLC now owns 486,653 shares of the company’s stock valued at $17,086,000 after purchasing an additional 25,444 shares during the period. Finally, GM Advisory Group LLC purchased a new stake in shares of Kraft Heinz in the third quarter valued at $499,000. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Price Performance

NASDAQ KHC opened at $32.02 on Tuesday. The stock has a 50-day simple moving average of $34.01 and a 200 day simple moving average of $34.22. The stock has a market capitalization of $38.72 billion, a PE ratio of 28.85, a P/E/G ratio of 3.63 and a beta of 0.49. 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 Kraft Heinz Company has a twelve month low of $30.40 and a twelve month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $6.42 billion. During the same period in the previous year, the business posted $0.72 earnings per share. Kraft Heinz’s quarterly revenue was down 2.8% on a year-over-year basis. Research analysts anticipate that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.00%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz’s payout ratio is 144.14%.

Insider Activity at Kraft Heinz

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was 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 in the company, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on KHC shares. Wells Fargo & Company upped their price target on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. lowered their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Mizuho cut their target price 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. Citigroup reduced their price target on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, Evercore ISI reduced their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $36.55.

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.