Caisse DE Depot ET Placement DU Quebec Raises Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 62.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 641,668 shares of the company's stock after buying an additional 247,328 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.05% of Kraft Heinz worth $22,529,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Fortitude Family Office LLC lifted its position in Kraft Heinz by 249.5% during the third quarter. Fortitude Family Office LLC now owns 741 shares of the company's stock valued at $26,000 after acquiring an additional 529 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Kraft Heinz during the 3rd quarter valued at $27,000. DiNuzzo Private Wealth Inc. boosted its position in shares of Kraft Heinz by 1,077.0% in the 3rd 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. Asset Dedication LLC grew its stake in Kraft Heinz by 94.8% during the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company's stock worth $32,000 after buying an additional 476 shares during the last quarter. Finally, Bangor Savings Bank acquired a new position in Kraft Heinz during the 3rd quarter valued at about $32,000. Hedge funds and other 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 business's 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.32% of the company's stock.

Kraft Heinz Stock Performance

KHC traded down $0.36 during midday trading on Monday, hitting $31.61. 13,136,152 shares of the company were exchanged, compared to its average volume of 8,024,432. The firm has a market capitalization of $38.22 billion, a price-to-earnings ratio of 28.48, a price-to-earnings-growth ratio of 3.65 and a beta of 0.49. The company's 50 day simple moving average is $33.77 and its 200 day simple moving average is $34.10. 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 Kraft Heinz Company has a 1-year low of $30.40 and a 1-year high of $38.96.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The company had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.42 billion. During the same period last year, the business earned $0.72 earnings per share. Kraft Heinz's quarterly revenue was down 2.8% on a year-over-year basis. 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 company 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 dividend on an annualized basis and a dividend yield of 5.06%. Kraft Heinz's dividend payout ratio (DPR) is currently 144.14%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on KHC shares. Mizuho lowered their price target on Kraft Heinz from $43.00 to $41.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. Citigroup lowered their target price on shares of Kraft Heinz from $39.00 to $38.00 and set a "buy" rating for the company in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered shares of Kraft Heinz from a "buy" rating to a "hold" rating and cut their price target for the company from $39.00 to $35.00 in a research note on Thursday, October 31st. Piper Sandler reiterated a "neutral" rating and set a $35.00 price objective (down from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. Finally, Barclays cut their target price on Kraft Heinz from $36.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Friday, November 1st. One research 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. Based on data from MarketBeat.com, Kraft Heinz currently has an average 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.