Toronto Dominion Bank Purchases 54,656 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Toronto Dominion Bank increased its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 12.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 487,938 shares of the company’s stock after acquiring an additional 54,656 shares during the period. Toronto Dominion Bank’s holdings in Kraft Heinz were worth $17,132,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of KHC. 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 period. Ashton Thomas Securities LLC bought a new position in Kraft Heinz in the 3rd quarter worth about $27,000. DiNuzzo Private Wealth Inc. raised its holdings in shares of Kraft Heinz by 1,077.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after acquiring an additional 797 shares in the last quarter. Asset Dedication LLC boosted its position in shares of Kraft Heinz by 94.8% during the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after acquiring an additional 476 shares during the last quarter. Finally, Bangor Savings Bank purchased a new position in shares of Kraft Heinz during the third quarter worth about $32,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Kraft Heinz Price Performance

KHC opened at $31.55 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. The stock’s 50 day simple moving average is $33.20 and its 200 day simple moving average is $33.85. The firm has a market cap of $38.15 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 3.57 and a beta of 0.48. The Kraft Heinz Company has a 1 year low of $30.40 and a 1 year high of $38.96.

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

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 5.07%. Kraft Heinz’s payout ratio is presently 144.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Citigroup lowered their target price on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Stifel Nicolaus cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price objective for the company from $40.00 to $38.00 in a research report on Friday, October 25th. Piper Sandler reiterated a “neutral” rating and issued a $35.00 target price (down from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price target for the company from $39.00 to $35.00 in a research report on Thursday, October 31st. Finally, Mizuho cut their price objective on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Kraft Heinz has an average rating of “Hold” and a consensus price target of $36.55.

Insider Buying and Selling at Kraft Heinz

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the firm’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 completion of the sale, the executive vice president now directly owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.32% of the stock is currently owned by corporate 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.