The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC cut its stake in The Kraft Heinz Company (NASDAQ:KHC) by 13.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,037 shares of the company’s stock after selling 6,916 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Kraft Heinz were worth $1,616,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Norden Group LLC acquired a new stake in Kraft Heinz during the first quarter valued at $331,000. Envestnet Portfolio Solutions Inc. raised its stake in shares of Kraft Heinz by 9.7% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 86,383 shares of the company’s stock worth $3,188,000 after buying an additional 7,604 shares during the period. Empowered Funds LLC lifted its position in shares of Kraft Heinz by 116.9% during the 1st quarter. Empowered Funds LLC now owns 48,881 shares of the company’s stock valued at $1,804,000 after buying an additional 26,344 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in Kraft Heinz by 19.3% in the 1st quarter. Oppenheimer & Co. Inc. now owns 98,802 shares of the company’s stock valued at $3,646,000 after acquiring an additional 15,964 shares during the period. Finally, Forsta AP Fonden increased its holdings in Kraft Heinz by 43.4% in the 1st quarter. Forsta AP Fonden now owns 276,000 shares of the company’s stock worth $10,184,000 after acquiring an additional 83,500 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Up 0.5 %

Shares of KHC opened at $33.00 on Friday. The stock has a fifty day simple moving average of $34.92 and a two-hundred day simple moving average of $34.69. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $39.90 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 3.82 and a beta of 0.49. The Kraft Heinz Company has a 52-week low of $31.58 and a 52-week high of $38.96.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The firm had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.42 billion. During the same period last year, the business earned $0.72 earnings per share. Kraft Heinz’s revenue was down 2.8% compared to the same quarter last year. As a group, equities analysts forecast that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Dividend Announcement

The firm 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 dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz’s dividend payout ratio is presently 144.14%.

Insider Buying and Selling

In other Kraft Heinz 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 of the company’s stock, valued at $5,626,122.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Mizuho decreased their price objective on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. decreased their price target on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lowered Kraft Heinz from a “buy” rating to a “hold” rating and cut their price objective for the stock from $39.00 to $35.00 in a research note on Thursday, October 31st. Stifel Nicolaus downgraded Kraft Heinz from a “buy” rating to a “hold” rating and decreased their target price for the company from $40.00 to $38.00 in a research report on Friday, October 25th. Finally, Piper Sandler dropped their price target on 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 research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.