Cadence Bank Sells 100,910 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Cadence Bank decreased its position in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 91.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,159 shares of the company's stock after selling 100,910 shares during the period. Cadence Bank's holdings in Kraft Heinz were worth $322,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Fortitude Family Office LLC boosted its holdings in shares of Kraft Heinz by 249.5% in the third quarter. Fortitude Family Office LLC now owns 741 shares of the company's stock valued at $26,000 after buying an additional 529 shares during the period. New Covenant Trust Company N.A. acquired a new stake in shares of Kraft Heinz in the 1st quarter valued at about $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Kraft Heinz in the third quarter valued at about $27,000. DiNuzzo Private Wealth Inc. boosted its position in shares of 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 buying an additional 797 shares during the period. Finally, Asset Dedication LLC raised its position in Kraft Heinz by 94.8% in the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company's stock valued at $32,000 after buying an additional 476 shares during the last quarter. Institutional investors own 78.17% of the company's stock.

Insider Transactions at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now directly 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 available through the SEC website. Corporate insiders own 0.37% of the company's stock.

Analyst Upgrades and Downgrades

KHC has been the subject of several research reports. JPMorgan Chase & Co. decreased their price target on shares of Kraft Heinz from $38.00 to $37.00 and set a "neutral" rating for the company in a research note on Wednesday, July 31st. Barclays decreased their target price on shares of Kraft Heinz from $36.00 to $35.00 and set an "equal weight" rating for the company in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft cut shares of Kraft Heinz from a "buy" rating to a "hold" rating and cut their price target for the stock from $39.00 to $35.00 in a research report on Thursday, October 31st. Citigroup decreased their price objective on Kraft Heinz from $39.00 to $38.00 and set a "buy" rating for the company in a report on Thursday, October 31st. Finally, Mizuho lowered their target price on 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 analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Kraft Heinz currently has an average rating of "Hold" and an average target price of $36.55.

Kraft Heinz Stock Performance

Shares of NASDAQ KHC traded down $0.04 during midday trading on Thursday, hitting $31.93. 6,703,961 shares of the company's stock were exchanged, compared to its average volume of 8,011,506. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $38.61 billion, a PE ratio of 28.77, a price-to-earnings-growth ratio of 3.66 and a beta of 0.49. The Kraft Heinz Company has a 12 month low of $30.40 and a 12 month high of $38.96. The company's 50 day moving average price is $33.83 and its 200 day moving average price is $34.16.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released 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 firm had revenue of $6.38 billion for 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 company's quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 earnings per share. As a group, analysts predict that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal 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 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 yield of 5.01%. Kraft Heinz's dividend payout ratio (DPR) is presently 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.