Peapack Gladstone Financial Corp Boosts Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Peapack Gladstone Financial Corp raised its position in The Kraft Heinz Company (NASDAQ:KHC) by 13.3% in the 3rd quarter, Holdings Channel reports. The fund owned 59,554 shares of the company’s stock after acquiring an additional 7,004 shares during the period. Peapack Gladstone Financial Corp’s holdings in Kraft Heinz were worth $2,091,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC acquired a new stake in Kraft Heinz in the third quarter valued at about $411,304,000. State Street Corp raised its stake in shares of Kraft Heinz by 16.7% during the 3rd quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after buying an additional 6,366,732 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Kraft Heinz by 11.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock valued at $669,821,000 after buying an additional 1,944,019 shares during the period. Dimensional Fund Advisors LP lifted its holdings 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 buying an additional 1,778,263 shares during the period. Finally, Thompson Siegel & Walmsley LLC boosted its stake in shares of Kraft Heinz by 387.7% in 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. Institutional investors and hedge funds own 78.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KHC. Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a “buy” rating to a “hold” rating and reduced their target price for the company from $39.00 to $35.00 in a report on Thursday, October 31st. Barclays reduced 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 research note on Friday, November 1st. 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 report on Thursday, October 31st. Piper Sandler reiterated a “neutral” rating and set a $35.00 price target (down from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. Finally, Stifel Nicolaus cut Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price target for the stock from $40.00 to $38.00 in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $36.55.

Insiders Place Their Bets

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the firm’s stock in a transaction dated 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.32% of the stock is owned by corporate insiders.

Kraft Heinz Stock Performance

Kraft Heinz stock opened at $31.69 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 Kraft Heinz Company has a fifty-two week low of $30.40 and a fifty-two week high of $38.96. The stock has a fifty day moving average of $33.09 and a two-hundred day moving average of $33.80. The company has a market capitalization of $38.32 billion, a price-to-earnings ratio of 28.55, a PEG ratio of 3.57 and a beta of 0.48.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.01. The firm had revenue of $6.38 billion during 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 quarter in the previous year, the company posted $0.72 EPS. On average, analysts anticipate that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently announced 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. The ex-dividend date is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a yield of 5.05%. Kraft Heinz’s dividend payout ratio (DPR) is currently 144.14%.

Kraft Heinz Company 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.