The Kraft Heinz Company (NASDAQ:KHC) Position Reduced by Perpetual Ltd

Perpetual Ltd decreased its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 36.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,292 shares of the company’s stock after selling 5,323 shares during the period. Perpetual Ltd’s holdings in Kraft Heinz were worth $285,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC raised its holdings in Kraft Heinz by 249.5% during the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after purchasing an additional 529 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Kraft Heinz during the third quarter worth approximately $27,000. Sawyer & Company Inc bought a new stake in Kraft Heinz during the fourth quarter worth approximately $25,000. DiNuzzo Private Wealth Inc. raised its holdings in Kraft Heinz by 1,077.0% during the third 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. Finally, Bangor Savings Bank bought a new stake in Kraft Heinz during the third quarter worth approximately $32,000. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Performance

Shares of NASDAQ:KHC opened at $29.07 on Friday. The firm has a fifty day moving average of $30.62 and a two-hundred day moving average of $33.16. The firm has a market capitalization of $35.15 billion, a P/E ratio of 26.19, a price-to-earnings-growth ratio of 3.50 and a beta of 0.48. The Kraft Heinz Company has a 12-month low of $28.37 and a 12-month high of $38.96. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating 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 company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. On average, equities analysts expect that The Kraft Heinz Company will post 3 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, November 29th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date of this dividend was Friday, November 29th. Kraft Heinz’s dividend payout ratio (DPR) is currently 144.14%.

Insider Buying and Selling at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of Kraft Heinz stock in a transaction 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 Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on KHC. The Goldman Sachs Group decreased their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a research report on Thursday, October 31st. Evercore ISI restated an “in-line” rating and issued a $35.00 price target (down previously from $38.00) on shares of Kraft Heinz in a research report on Tuesday, January 7th. Wells Fargo & Company decreased their price target on shares of Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Piper Sandler restated a “neutral” rating and issued a $35.00 price target (down previously from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. Finally, Stifel Nicolaus lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price target for the stock from $40.00 to $38.00 in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Kraft Heinz has a consensus rating of “Hold” and a consensus price target of $35.23.

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.