Truvestments Capital LLC Acquires 13,528 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Truvestments Capital LLC increased its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 19.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,446 shares of the company’s stock after purchasing an additional 13,528 shares during the quarter. Truvestments Capital LLC’s holdings in Kraft Heinz were worth $2,965,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. bought a new stake in Kraft Heinz in the 1st quarter valued at $27,000. Fortitude Family Office LLC increased its holdings in shares of Kraft Heinz by 249.5% in the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after purchasing an additional 529 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Kraft Heinz in the third quarter worth about $27,000. DiNuzzo Private Wealth Inc. boosted its stake in Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after buying an additional 797 shares during the last quarter. Finally, Bangor Savings Bank bought a new position in Kraft Heinz during the third quarter valued at approximately $32,000. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Performance

Kraft Heinz stock opened at $31.93 on Monday. The Kraft Heinz Company has a 1-year low of $30.40 and a 1-year high of $38.96. The company’s 50-day moving average is $34.08 and its 200 day moving average is $34.24. The firm has a market capitalization of $38.61 billion, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 3.63 and a beta of 0.49. 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 issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) 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 analyst estimates of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. Kraft Heinz’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company earned $0.72 EPS. Research analysts forecast that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Announces Dividend

The business also recently declared 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date is Friday, November 29th. Kraft Heinz’s payout ratio is presently 144.14%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Mizuho decreased their price objective on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Wells Fargo & Company upped their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $39.00 to $35.00 in a research note on Thursday, October 31st. The Goldman Sachs Group decreased their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a research report on Thursday, October 31st. Finally, Evercore ISI dropped their price target on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kraft Heinz has a consensus rating of “Hold” and a consensus target price of $36.55.

Insider Buying and Selling

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 168,195 shares in the company, valued at approximately $5,626,122.75. The trade was a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.37% of the stock is currently owned by insiders.

Kraft Heinz 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.