Private Trust Co. NA Trims Stake in The Kraft Heinz Company (NASDAQ:KHC)

Private Trust Co. NA lessened its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 10.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,295 shares of the company’s stock after selling 705 shares during the quarter. Private Trust Co. NA’s holdings in Kraft Heinz were worth $221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Horizon Kinetics Asset Management LLC lifted its position in shares of Kraft Heinz by 78.0% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 14,577 shares of the company’s stock valued at $512,000 after buying an additional 6,389 shares in the last quarter. Truvestments Capital LLC raised its stake in Kraft Heinz by 19.1% during the 3rd quarter. Truvestments Capital LLC now owns 84,446 shares of the company’s stock worth $2,965,000 after acquiring an additional 13,528 shares during the period. Harvest Fund Management Co. Ltd lifted its holdings in Kraft Heinz by 51.6% during the third quarter. Harvest Fund Management Co. Ltd now owns 55,694 shares of the company’s stock valued at $1,954,000 after purchasing an additional 18,950 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Kraft Heinz by 14.3% in the third quarter. Daiwa Securities Group Inc. now owns 187,277 shares of the company’s stock worth $6,575,000 after purchasing an additional 23,374 shares during the period. Finally, Larson Financial Group LLC raised its position in shares of Kraft Heinz by 191.0% during the 3rd quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock valued at $34,000 after purchasing an additional 636 shares during the period. Institutional investors own 78.17% of the company’s stock.

Insider Transactions at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 168,195 shares in the company, valued at approximately $5,626,122.75. The trade was a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.37% of the company’s stock.

Kraft Heinz Stock Performance

Kraft Heinz stock opened at $31.93 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 firm has a market capitalization of $38.61 billion, a P/E ratio of 28.77, a price-to-earnings-growth ratio of 3.66 and a beta of 0.49. The Kraft Heinz Company has a 1-year low of $30.40 and a 1-year high of $38.96. The company’s 50-day moving average is $33.83 and its 200 day moving average is $34.16.

Kraft Heinz (NASDAQ:KHC) last issued 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. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.42 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. Research analysts forecast that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz’s dividend payout ratio is currently 144.14%.

Analyst Upgrades and Downgrades

KHC has been the subject of a number of analyst reports. Barclays cut their price target on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Mizuho dropped their price objective on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a “buy” rating to a “hold” rating and decreased their target price for the company from $39.00 to $35.00 in a research note on Thursday, October 31st. The Goldman Sachs Group lowered their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a report on Thursday, October 31st. Finally, Stifel Nicolaus downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price objective for the company from $40.00 to $38.00 in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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.