Wasatch Advisors LP Has $2.56 Million Position in The Kraft Heinz Company (NASDAQ:KHC)

Wasatch Advisors LP lessened its stake in The Kraft Heinz Company (NASDAQ:KHC) by 35.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,961 shares of the company’s stock after selling 40,039 shares during the quarter. Wasatch Advisors LP’s holdings in Kraft Heinz were worth $2,562,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. LSV Asset Management boosted its holdings in shares of Kraft Heinz by 2.1% in the second quarter. LSV Asset Management now owns 9,107,688 shares of the company’s stock valued at $293,450,000 after buying an additional 189,000 shares during the period. Legal & General Group Plc boosted its holdings in shares of Kraft Heinz by 9.7% in the second quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock valued at $292,061,000 after buying an additional 799,581 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Kraft Heinz by 47.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock worth $178,379,000 after purchasing an additional 1,778,263 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Kraft Heinz by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company’s stock worth $186,350,000 after purchasing an additional 545,504 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Kraft Heinz by 14.2% in the second quarter. AQR Capital Management LLC now owns 4,063,076 shares of the company’s stock worth $130,912,000 after purchasing an additional 505,180 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Price Performance

Shares of KHC opened at $31.97 on Monday. The firm has a market capitalization of $38.66 billion, a PE ratio of 28.80, a PEG ratio of 3.65 and a beta of 0.49. The company’s 50-day moving average is $33.77 and its 200-day moving average is $34.10. The Kraft Heinz Company has a fifty-two week low of $30.40 and a fifty-two week high of $38.96. 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 data on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.01. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The company’s revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 earnings per share. Equities analysts forecast that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 5.00%. The ex-dividend date is Friday, November 29th. Kraft Heinz’s payout ratio is presently 144.14%.

Insider Activity

In related 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 directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on KHC shares. Piper Sandler reissued a “neutral” rating and issued a $35.00 price objective (down previously from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft lowered shares of 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 report on Thursday, October 31st. Citigroup cut their price objective on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Barclays cut their price objective on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, November 1st. Finally, Mizuho cut their price objective on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Kraft Heinz presently has a consensus rating of “Hold” and a consensus price target of $36.55.

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.