Mizuho Markets Americas LLC Sells 112,789 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Mizuho Markets Americas LLC lessened its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 25.4% during the 3rd quarter, Holdings Channel reports. The firm owned 331,482 shares of the company’s stock after selling 112,789 shares during the period. Mizuho Markets Americas LLC’s holdings in Kraft Heinz were worth $11,638,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. MADDEN SECURITIES Corp boosted its holdings in shares of Kraft Heinz by 2.4% during the 3rd quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock valued at $448,000 after purchasing an additional 303 shares during the last quarter. HB Wealth Management LLC increased its stake in Kraft Heinz by 2.5% in the 2nd quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock worth $419,000 after acquiring an additional 314 shares during the last quarter. Axiom Advisory LLC raised its holdings in shares of Kraft Heinz by 5.2% during the 3rd quarter. Axiom Advisory LLC now owns 6,594 shares of the company’s stock worth $227,000 after acquiring an additional 327 shares in the last quarter. Norden Group LLC boosted its position in shares of Kraft Heinz by 3.8% during the 2nd quarter. Norden Group LLC now owns 9,321 shares of the company’s stock valued at $300,000 after acquiring an additional 339 shares during the last quarter. Finally, Valley Wealth Managers Inc. grew its holdings in shares of Kraft Heinz by 46.4% in the second quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock valued at $35,000 after purchasing an additional 340 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 168,195 shares in the company, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Mizuho decreased their price target on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Citigroup decreased 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 dropped their price target on Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. lowered their price objective on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group dropped their target price on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $37.00.

Kraft Heinz Price Performance

Shares of KHC stock opened at $31.14 on Friday. The stock has a 50 day moving average price of $34.53 and a 200 day moving average price of $34.46. The Kraft Heinz Company has a 52-week low of $30.40 and a 52-week high of $38.96. 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 capitalization of $37.65 billion, a P/E ratio of 28.05, a P/E/G ratio of 3.67 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last released its 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 during the quarter, compared to the consensus estimate of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the company earned $0.72 earnings per share. As a group, sell-side analysts predict that The Kraft Heinz Company will post 3.01 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 5.14%. Kraft Heinz’s dividend payout ratio (DPR) is 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.