The Kraft Heinz Company (NASDAQ:KHC) Shares Purchased by Easterly Investment Partners LLC

Easterly Investment Partners LLC lifted its stake in The Kraft Heinz Company (NASDAQ:KHC) by 39.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 157,479 shares of the company’s stock after acquiring an additional 44,485 shares during the period. Easterly Investment Partners LLC’s holdings in Kraft Heinz were worth $5,529,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC raised its position in 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 acquiring an additional 529 shares in the last quarter. New Covenant Trust Company N.A. bought a new stake in shares of Kraft Heinz in the 1st quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. lifted its stake in Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after purchasing an additional 797 shares during the last quarter. Asset Dedication LLC lifted its stake in Kraft Heinz by 94.8% during the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after purchasing an additional 476 shares during the last quarter. Finally, Bangor Savings Bank acquired a new position in Kraft Heinz in the third quarter worth approximately $32,000. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Stock Performance

NASDAQ:KHC traded up $0.08 during midday trading on Friday, reaching $32.90. The stock had a trading volume of 1,604,341 shares, compared to its average volume of 7,766,774. The stock has a market capitalization of $39.78 billion, a P/E ratio of 29.57, a PEG ratio of 3.81 and a beta of 0.49. 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 Kraft Heinz Company has a 1-year low of $31.58 and a 1-year high of $38.96. The firm’s fifty day simple moving average is $35.01 and its 200-day simple moving average is $34.74.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. 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 company posted $0.72 earnings per share. On average, equities research analysts forecast that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 4.86%. Kraft Heinz’s dividend payout ratio is 144.14%.

Insider Transactions at Kraft Heinz

In other 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 transaction of $1,505,250.00. Following the completion of the transaction, the executive vice president now owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.37% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on KHC. Citigroup cut their price objective on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Stifel Nicolaus lowered Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price target for the company from $40.00 to $38.00 in a research report on Friday, October 25th. Wells Fargo & Company lifted their target price on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Piper Sandler lowered their price objective on shares of Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Finally, Mizuho reduced their target price 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, five have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $37.25.

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.