Oppenheimer Asset Management Inc. Increases Stake in The Kraft Heinz Company (NASDAQ:KHC)

Oppenheimer Asset Management Inc. raised its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 9.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 204,200 shares of the company’s stock after purchasing an additional 17,969 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Kraft Heinz were worth $7,169,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Fortitude Family Office LLC grew its stake in Kraft Heinz by 249.5% during the 3rd 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. New Covenant Trust Company N.A. acquired a new position in shares of Kraft Heinz during the 1st quarter worth approximately $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Kraft Heinz in the third quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. increased its holdings in shares of Kraft Heinz by 1,077.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after purchasing an additional 797 shares during the last quarter. Finally, Asset Dedication LLC lifted its position in Kraft Heinz by 94.8% during the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after buying an additional 476 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Stock Down 1.1 %

Shares of NASDAQ KHC opened at $31.79 on Friday. The Kraft Heinz Company has a 52-week low of $31.58 and a 52-week high of $38.96. The business’s 50 day moving average is $34.71 and its two-hundred day moving average is $34.53. The firm has a market cap of $38.44 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 3.65 and a beta of 0.49. 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 posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.01. The firm had revenue of $6.38 billion for 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 company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 EPS. Research analysts predict that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 5.03%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz’s payout ratio is currently 144.14%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on KHC. Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a “buy” rating to a “hold” rating and cut their target price for the stock from $39.00 to $35.00 in a research note on Thursday, October 31st. Citigroup cut their price objective on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Stifel Nicolaus lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their target price for the company from $40.00 to $38.00 in a report on Friday, October 25th. Wells Fargo & Company raised their price target 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. Finally, Barclays decreased their price objective on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $37.00.

Insiders Place Their Bets

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the business’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 completion of the transaction, the executive vice president now directly owns 168,195 shares of the company’s stock, valued at $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 available through this hyperlink. 0.32% of the stock is owned by company insiders.

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.