The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 1.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,753,803 shares of the company’s stock after selling 22,086 shares during the period. Bank of Montreal Can’s holdings in Kraft Heinz were worth $62,032,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. LSV Asset Management raised its position in Kraft Heinz by 2.1% during the second quarter. LSV Asset Management now owns 9,107,688 shares of the company’s stock worth $293,450,000 after acquiring an additional 189,000 shares during the period. Legal & General Group Plc lifted its stake in Kraft Heinz by 9.7% in the 2nd quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock valued at $292,061,000 after buying an additional 799,581 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Kraft Heinz by 47.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock worth $178,379,000 after buying an additional 1,778,263 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Kraft Heinz by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company’s stock worth $186,350,000 after buying an additional 545,504 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Kraft Heinz by 14.2% during the second quarter. AQR Capital Management LLC now owns 4,063,076 shares of the company’s stock valued at $130,912,000 after acquiring an additional 505,180 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Mizuho lowered their price target on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a research note 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 on the stock in a research note on Wednesday, July 31st. The Goldman Sachs Group reduced 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 restated a “neutral” rating and set a $35.00 price target (down from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. Finally, Citigroup cut their price objective 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $36.55.

Insider Activity at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the transaction, the executive vice president now owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. This 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. 0.37% of the stock is owned by insiders.

Kraft Heinz Stock Down 0.1 %

Shares of NASDAQ KHC opened at $31.93 on Thursday. The Kraft Heinz Company has a 1 year low of $30.40 and a 1 year high of $38.96. The company has a market capitalization of $38.61 billion, a P/E ratio of 28.77, a P/E/G ratio of 3.66 and a beta of 0.49. The company has a 50 day simple moving average of $33.89 and a 200-day simple moving average of $34.17. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 earnings per share. On average, equities research analysts predict that The Kraft Heinz Company will post 3.01 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business 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 $0.40 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 5.01%. Kraft Heinz’s dividend 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.