Chevy Chase Trust Holdings LLC Purchases 42,323 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Chevy Chase Trust Holdings LLC lifted its position in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 9.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 473,891 shares of the company's stock after acquiring an additional 42,323 shares during the period. Chevy Chase Trust Holdings LLC's holdings in Kraft Heinz were worth $16,638,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC lifted its stake in Kraft Heinz by 249.5% in the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company's stock valued at $26,000 after purchasing an additional 529 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Kraft Heinz during the third quarter worth $27,000. DiNuzzo Private Wealth Inc. increased 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. Asset Dedication LLC increased its position in shares of 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 during the period. Finally, Bangor Savings Bank acquired a new stake in shares of Kraft Heinz during the third quarter worth $32,000. Institutional investors own 78.17% of the company's stock.

Kraft Heinz Price Performance

NASDAQ:KHC traded down $0.45 during mid-day trading on Wednesday, hitting $31.00. 9,811,024 shares of the stock traded hands, compared to its average volume of 8,054,513. The business's 50-day moving average price is $33.57 and its 200 day moving average price is $34.01. The company has a market cap of $37.48 billion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 3.61 and a beta of 0.48. The Kraft Heinz Company has a 12-month low of $30.40 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 - 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. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The company had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.42 billion. During the same quarter in the previous year, the company earned $0.72 earnings per share. Kraft Heinz's revenue for the quarter was down 2.8% on a year-over-year basis. On average, analysts expect that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently announced 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 is Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 5.16%. Kraft Heinz's payout ratio is presently 144.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on KHC shares. Citigroup reduced 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. Piper Sandler reaffirmed a "neutral" rating and issued a $35.00 price objective (down from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. Mizuho dropped their price objective on shares of Kraft Heinz from $43.00 to $41.00 and set an "outperform" rating on the stock in a research note on Thursday, October 31st. Barclays dropped their price target on shares of 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. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Kraft Heinz from a "buy" rating to a "hold" rating and dropped their price target for the company from $39.00 to $35.00 in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Kraft Heinz presently has an average rating of "Hold" and an average target price of $36.55.

Insider Buying and Selling at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 168,195 shares in the company, valued at $5,626,122.75. This trade represents a 21.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Kraft Heinz 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.