BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $5.34 Million Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 12.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 151,947 shares of the company's stock after selling 22,316 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Kraft Heinz were worth $5,335,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in shares of Kraft Heinz by 41.2% in the second quarter. GAMMA Investing LLC now owns 10,714 shares of the company's stock valued at $345,000 after acquiring an additional 3,128 shares during the last quarter. First Hawaiian Bank raised its stake in shares of Kraft Heinz by 9.4% in the second quarter. First Hawaiian Bank now owns 10,887 shares of the company's stock valued at $351,000 after acquiring an additional 931 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Kraft Heinz by 20.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 2,924 shares of the company's stock valued at $94,000 after acquiring an additional 501 shares during the last quarter. DNB Asset Management AS raised its stake in shares of Kraft Heinz by 16.0% in the second quarter. DNB Asset Management AS now owns 178,463 shares of the company's stock valued at $5,750,000 after acquiring an additional 24,669 shares during the last quarter. Finally, Mather Group LLC. raised its position in Kraft Heinz by 23.1% in the 2nd quarter. Mather Group LLC. now owns 3,826 shares of the company's stock worth $123,000 after purchasing an additional 719 shares during the last quarter. Institutional investors own 78.17% of the company's stock.

Insider Activity

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 shares were 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.37% of the company's stock.

Kraft Heinz Price Performance

NASDAQ:KHC traded down $0.16 on Tuesday, hitting $31.45. The company had a trading volume of 13,272,539 shares, compared to its average volume of 8,046,959. The stock has a market capitalization of $38.03 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 3.61 and a beta of 0.48. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The firm has a 50 day moving average of $33.64 and a two-hundred day moving average of $34.04. The Kraft Heinz Company has a 52 week low of $30.40 and a 52 week high of $38.96.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, beating 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 net margin of 5.24% and a return on equity of 7.46%. The firm's revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 EPS. On average, research analysts anticipate that The Kraft Heinz Company will post 3.01 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders 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 dividend yield of 5.09%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz's payout ratio is currently 144.14%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Stifel Nicolaus cut shares of Kraft Heinz from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $40.00 to $38.00 in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft lowered shares of Kraft Heinz from a "buy" rating to a "hold" rating and decreased their price target for the company from $39.00 to $35.00 in a report on Thursday, October 31st. Citigroup decreased their price target 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. The Goldman Sachs Group cut their price objective 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. Finally, Mizuho cut 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 report on Thursday, October 31st. 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. Based on data from MarketBeat.com, Kraft Heinz currently has a consensus rating of "Hold" and a consensus target price of $36.55.

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.