Concurrent Investment Advisors LLC Raises Position in The Kraft Heinz Company (NASDAQ:KHC)

Concurrent Investment Advisors LLC boosted its position in The Kraft Heinz Company (NASDAQ:KHC) by 16.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 50,744 shares of the company’s stock after purchasing an additional 7,076 shares during the period. Concurrent Investment Advisors LLC’s holdings in Kraft Heinz were worth $1,782,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of KHC. Foster & Motley Inc. increased its stake in shares of Kraft Heinz by 33.2% in the third quarter. Foster & Motley Inc. now owns 129,400 shares of the company’s stock worth $4,543,000 after purchasing an additional 32,255 shares in the last quarter. Benchmark Financial Wealth Advisors LLC bought a new position in Kraft Heinz in the 3rd quarter worth approximately $268,000. Amalgamated Bank grew its stake in Kraft Heinz by 4.6% in the 3rd quarter. Amalgamated Bank now owns 173,759 shares of the company’s stock valued at $6,101,000 after buying an additional 7,680 shares in the last quarter. United Advisor Group LLC purchased a new stake in shares of Kraft Heinz during the third quarter worth $216,000. Finally, Gulf International Bank UK Ltd lifted its position in shares of Kraft Heinz by 2.6% during the third quarter. Gulf International Bank UK Ltd now owns 72,532 shares of the company’s stock worth $2,546,000 after acquiring an additional 1,816 shares in the last quarter. 78.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on KHC. Mizuho decreased their price objective 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. Wells Fargo & Company increased 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. The Goldman Sachs Group cut their price objective 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. Barclays decreased their target price on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. Finally, Piper Sandler reduced their price target on shares of Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.25.

Insiders Place Their Bets

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.

Kraft Heinz Price Performance

Shares of Kraft Heinz stock opened at $32.82 on Friday. The business’s 50-day moving average price is $35.01 and its 200-day moving average price is $34.74. The firm has a market capitalization of $39.69 billion, a PE ratio of 29.57, a price-to-earnings-growth ratio of 3.81 and a beta of 0.49. The Kraft Heinz Company has a 12 month low of $31.58 and a 12 month high of $38.96. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last announced 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 firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.42 billion. During the same period last year, the firm earned $0.72 earnings per share. The company’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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 4.88%. 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.