AMG National Trust Bank Has $1.18 Million Holdings in The Kraft Heinz Company (NASDAQ:KHC)

AMG National Trust Bank cut its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 8.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,667 shares of the company’s stock after selling 3,153 shares during the quarter. AMG National Trust Bank’s holdings in Kraft Heinz were worth $1,182,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Capital World Investors raised its stake in Kraft Heinz by 83.4% during the first quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock worth $321,388,000 after buying an additional 3,961,872 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Kraft Heinz by 47.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock worth $178,379,000 after acquiring an additional 1,778,263 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Kraft Heinz by 260.8% during the 2nd quarter. Marshall Wace LLP now owns 1,169,657 shares of the company’s stock valued at $37,686,000 after purchasing an additional 845,490 shares in the last quarter. Poplar Forest Capital LLC acquired a new stake in Kraft Heinz during the second quarter worth approximately $26,353,000. Finally, Legal & General Group Plc increased its holdings in Kraft Heinz by 9.7% in the second quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock worth $292,061,000 after purchasing an additional 799,581 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Price Performance

KHC opened at $30.58 on Wednesday. The Kraft Heinz Company has a 1 year low of $30.40 and a 1 year 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. The company has a market capitalization of $36.98 billion, a price-to-earnings ratio of 27.55, a P/E/G ratio of 3.56 and a beta of 0.49. The firm’s fifty day moving average price is $34.33 and its two-hundred day moving average price is $34.34.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.01. The business had revenue of $6.38 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 earnings per share. As a group, analysts anticipate that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.23%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz’s payout ratio is 144.14%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on KHC. Piper Sandler reaffirmed a “neutral” rating and set a $35.00 price objective (down previously from $40.00) on shares of Kraft Heinz in a research report on Tuesday. Wells Fargo & Company upped their price objective 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. JPMorgan Chase & Co. decreased their target price on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Evercore ISI lowered their target price on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus lowered shares of 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 note on Friday, October 25th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $36.55.

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 on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the completion of the transaction, the executive vice president now owns 168,195 shares in the company, valued at $5,626,122.75. This represents a 21.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.37% of the stock is currently owned by corporate insiders.

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.