Catalyst Capital Advisors LLC Boosts Stake in The Kraft Heinz Company (NASDAQ:KHC)

Catalyst Capital Advisors LLC grew its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 59.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,273 shares of the company’s stock after buying an additional 3,810 shares during the period. Catalyst Capital Advisors LLC’s holdings in Kraft Heinz were worth $361,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Norden Group LLC acquired a new position in Kraft Heinz in the 1st quarter valued at about $331,000. Jennison Associates LLC raised its position in shares of Kraft Heinz by 34.6% in the first quarter. Jennison Associates LLC now owns 12,527 shares of the company’s stock valued at $462,000 after buying an additional 3,220 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Kraft Heinz during the first quarter valued at approximately $205,000. BI Asset Management Fondsmaeglerselskab A S boosted its position in Kraft Heinz by 75.9% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 78,911 shares of the company’s stock worth $2,912,000 after acquiring an additional 34,038 shares during the last quarter. Finally, Disciplined Equity Management Inc. purchased a new stake in Kraft Heinz in the 1st quarter worth approximately $1,074,000. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Price Performance

KHC opened at $33.51 on Wednesday. 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’s 50-day moving average price is $35.05 and its 200 day moving average price is $34.75. The Kraft Heinz Company has a fifty-two week low of $31.58 and a fifty-two week high of $38.96. The firm has a market cap of $40.52 billion, a price-to-earnings ratio of 30.19, a price-to-earnings-growth ratio of 3.82 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results 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 return on equity of 7.46% and a net margin of 5.24%. The business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.42 billion. During the same quarter last year, the business posted $0.72 EPS. The business’s revenue was down 2.8% on a year-over-year basis. As a group, sell-side analysts expect that The Kraft Heinz Company will post 3.01 earnings per share for the current year.

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be issued a $0.40 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.77%. Kraft Heinz’s dividend payout ratio (DPR) is presently 144.14%.

Analysts Set New Price Targets

A number of research analysts have weighed in on KHC shares. Stifel Nicolaus lowered Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price target for the stock from $40.00 to $38.00 in a research note on Friday, October 25th. Piper Sandler decreased their price target on Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Bank of America cut their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Wells Fargo & Company boosted their target price on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price target for the company from $39.00 to $35.00 in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Kraft Heinz presently 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.