Intact Investment Management Inc. Purchases 84,370 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Intact Investment Management Inc. grew its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 149.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,970 shares of the company’s stock after purchasing an additional 84,370 shares during the quarter. Intact Investment Management Inc.’s holdings in Kraft Heinz were worth $4,949,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC grew its position 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 during the last quarter. New Covenant Trust Company N.A. bought a new position in Kraft Heinz during the 1st quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. grew its position 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 during the last quarter. Asset Dedication LLC grew its position 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 during the last quarter. Finally, Bangor Savings Bank bought a new position in Kraft Heinz during the 3rd quarter worth approximately $32,000. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Stock Down 0.3 %

Shares of NASDAQ:KHC opened at $33.38 on Tuesday. The stock has a fifty day simple moving average of $35.10 and a two-hundred day simple moving average of $34.78. The stock has a market capitalization of $40.36 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 3.49 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 0.53 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. The business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 earnings per share. On average, research analysts anticipate that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date is Friday, November 29th. Kraft Heinz’s payout ratio is 144.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on KHC shares. Piper Sandler cut their price objective on Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. JPMorgan Chase & Co. cut their price objective on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Evercore ISI cut their price objective on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Barclays cut their price objective on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Bank of America cut their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Kraft Heinz has a consensus rating of “Hold” and an average target price of $37.25.

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.