West Tower Group LLC Acquires New Position in The Kraft Heinz Company (NASDAQ:KHC)

West Tower Group LLC acquired a new stake in The Kraft Heinz Company (NASDAQ:KHC) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,500 shares of the company’s stock, valued at approximately $263,000.

A number of other institutional investors have also recently made changes to their positions in KHC. Fortitude Family Office LLC grew its holdings in Kraft Heinz by 249.5% during the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after acquiring an additional 529 shares in the last quarter. New Covenant Trust Company N.A. acquired a new position in Kraft Heinz during the 1st quarter worth approximately $27,000. Ashton Thomas Securities LLC acquired a new position in Kraft Heinz during the 3rd quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. grew its holdings in Kraft Heinz by 1,077.0% during 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 in the last quarter. Finally, Asset Dedication LLC grew its holdings in Kraft Heinz by 94.8% during the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after acquiring an additional 476 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Insider Transactions at Kraft Heinz

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the firm’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 completion of the sale, the executive vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. 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 report on Thursday, August 1st. Citigroup lowered their target price on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Evercore ISI lowered their target price on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Piper Sandler restated a “neutral” rating and issued a $35.00 target price (down previously from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Finally, Barclays lowered their target price on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Kraft Heinz presently has a consensus rating of “Hold” and an average target price of $36.55.

Kraft Heinz Stock Up 0.7 %

Shares of NASDAQ:KHC opened at $32.02 on Tuesday. The stock has a market cap of $38.72 billion, a P/E ratio of 28.85, a P/E/G ratio of 3.63 and a beta of 0.49. The firm has a fifty day moving average price of $34.01 and a 200 day moving average price of $34.22. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. The Kraft Heinz Company has a 1-year low of $30.40 and a 1-year high of $38.96.

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

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be paid a $0.40 dividend. 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 dividend payout ratio (DPR) is presently 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.