HighTower Advisors LLC Has $11.62 Million Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

HighTower Advisors LLC lowered its position in The Kraft Heinz Company (NASDAQ:KHC) by 11.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 331,272 shares of the company’s stock after selling 43,542 shares during the quarter. HighTower Advisors LLC’s holdings in Kraft Heinz were worth $11,620,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of KHC. Dimensional Fund Advisors LP lifted its stake 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 valued at $178,379,000 after purchasing an additional 1,778,263 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its holdings in Kraft Heinz by 387.7% during the third quarter. Thompson Siegel & Walmsley LLC now owns 1,455,033 shares of the company’s stock valued at $51,086,000 after buying an additional 1,156,712 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Kraft Heinz by 260.8% in the second quarter. Marshall Wace LLP now owns 1,169,657 shares of the company’s stock worth $37,686,000 after buying an additional 845,490 shares during the last quarter. Poplar Forest Capital LLC bought a new stake in shares of Kraft Heinz during the 2nd quarter worth about $26,353,000. Finally, Legal & General Group Plc increased its holdings in shares of Kraft Heinz by 9.7% during the 2nd quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock valued at $292,061,000 after acquiring an additional 799,581 shares during the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Stock Down 0.3 %

Shares of KHC opened at $30.81 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06. The company has a 50-day simple moving average of $33.40 and a 200-day simple moving average of $33.94. The Kraft Heinz Company has a 52 week low of $30.40 and a 52 week high of $38.96. The firm has a market capitalization of $37.25 billion, a P/E ratio of 27.76, a P/E/G ratio of 3.54 and a beta of 0.48.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $6.42 billion. During the same quarter in the prior year, the firm posted $0.72 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, equities research analysts expect that The Kraft Heinz Company will post 3.01 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 5.19%. The ex-dividend date is Friday, November 29th. Kraft Heinz’s dividend payout ratio (DPR) is presently 144.14%.

Analysts Set New Price Targets

Several research firms recently weighed in on KHC. Piper Sandler restated a “neutral” rating and issued a $35.00 target price (down from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. The Goldman Sachs Group reduced their price objective on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research note on Thursday, October 31st. Barclays decreased their price objective on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Stifel Nicolaus downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and dropped their target price for the stock from $40.00 to $38.00 in a report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price target for the company from $39.00 to $35.00 in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $36.55.

Insider Activity

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of Kraft Heinz stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the sale, the executive vice president now directly owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. The trade was a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.32% of the company’s stock.

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.