Private Trust Co. NA Reduces Stock Position 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 third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,295 shares of the company’s stock after selling 705 shares during the period. Private Trust Co. NA’s holdings in Kraft Heinz were worth $221,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC raised its holdings in shares of Kraft Heinz by 249.5% during the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after acquiring an additional 529 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in Kraft Heinz during the 3rd quarter valued at $27,000. DiNuzzo Private Wealth Inc. raised its holdings in Kraft Heinz by 1,077.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after purchasing an additional 797 shares in the last quarter. Asset Dedication LLC raised its holdings in Kraft Heinz by 94.8% in the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after purchasing an additional 476 shares in the last quarter. Finally, Bangor Savings Bank bought a new position in Kraft Heinz in the 3rd quarter worth $32,000. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Down 0.1 %

NASDAQ:KHC opened at $31.93 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 firm has a market cap of $38.61 billion, a P/E ratio of 28.77, a P/E/G ratio of 3.66 and a beta of 0.49. The Kraft Heinz Company has a fifty-two week low of $30.40 and a fifty-two week high of $38.96. The firm has a 50-day simple moving average of $33.83 and a two-hundred day simple moving average of $34.16.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The company had revenue of $6.38 billion during the quarter, compared to analyst estimates 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 period in the previous year, the business earned $0.72 EPS. Analysts predict 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 disclosed 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 of this dividend is Friday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 5.01%. Kraft Heinz’s dividend payout ratio (DPR) is presently 144.14%.

Insider Activity at Kraft Heinz

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 shares were 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 of the company’s stock, valued at approximately $5,626,122.75. The trade was a 21.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.37% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on KHC shares. Piper Sandler restated a “neutral” rating and issued a $35.00 price objective (down from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Mizuho decreased their price objective on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Citigroup decreased their price objective on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Stifel Nicolaus lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $40.00 to $38.00 in a report on Friday, October 25th. Finally, Wells Fargo & Company upped their price objective on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Kraft Heinz presently has an average rating of “Hold” and a consensus price target of $36.55.

Kraft Heinz 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.