EP Wealth Advisors LLC grew its stake in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 53.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,695 shares of the company's stock after buying an additional 19,288 shares during the period. EP Wealth Advisors LLC's holdings in Kraft Heinz were worth $1,955,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently modified their holdings of KHC. MADDEN SECURITIES Corp raised its stake in Kraft Heinz by 2.4% during the 3rd quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company's stock worth $448,000 after buying an additional 303 shares during the period. HB Wealth Management LLC grew its position in shares of Kraft Heinz by 2.5% in the 2nd quarter. HB Wealth Management LLC now owns 13,013 shares of the company's stock valued at $419,000 after purchasing an additional 314 shares during the period. Axiom Advisory LLC increased its stake in Kraft Heinz by 5.2% during the 3rd quarter. Axiom Advisory LLC now owns 6,594 shares of the company's stock worth $227,000 after purchasing an additional 327 shares in the last quarter. Norden Group LLC raised its holdings in Kraft Heinz by 3.8% during the 2nd quarter. Norden Group LLC now owns 9,321 shares of the company's stock worth $300,000 after buying an additional 339 shares during the period. Finally, Valley Wealth Managers Inc. lifted its stake in Kraft Heinz by 46.4% in the second quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company's stock valued at $35,000 after buying an additional 340 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Pedro F. P. Navio sold 45,000 shares of the company's stock in a transaction dated 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 transaction, the executive vice president now owns 168,195 shares in the company, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.37% of the stock is owned by company insiders.
Several equities research analysts have recently issued reports on KHC shares. Mizuho lowered 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. Barclays lowered their target price on Kraft Heinz from $36.00 to $35.00 and set an "equal weight" rating for the company in a report on Friday, November 1st. Piper Sandler restated a "neutral" rating and issued a $35.00 price target (down from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Stifel Nicolaus downgraded Kraft Heinz from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $40.00 to $38.00 in a report on Friday, October 25th. Finally, The Goldman Sachs Group cut their target price on Kraft Heinz from $34.00 to $32.00 and set a "sell" rating on the stock in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $36.55.
Check Out Our Latest Stock Report on Kraft Heinz
Shares of KHC opened at $31.72 on Tuesday. The company has a market cap of $38.36 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 3.52 and a beta of 0.48. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The company's fifty day simple moving average is $33.33 and its 200 day simple moving average is $33.90. The Kraft Heinz Company has a 1-year low of $30.40 and a 1-year high of $38.96.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its earnings results 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 net margin of 5.24% and a return on equity of 7.46%. The company had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.42 billion. During the same period in the prior year, the firm earned $0.72 EPS. Kraft Heinz's quarterly revenue was down 2.8% compared to the same quarter last year. On average, research analysts forecast that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz's payout ratio is presently 144.14%.
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.
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