Empowered Funds LLC Decreases Stake in The Kraft Heinz Company (NASDAQ:KHC)

Empowered Funds LLC lessened its stake in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 70.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,321 shares of the company's stock after selling 199,684 shares during the period. Empowered Funds LLC's holdings in Kraft Heinz were worth $2,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Empirical Finance LLC boosted its holdings in Kraft Heinz by 2.6% in the third quarter. Empirical Finance LLC now owns 25,987 shares of the company's stock worth $912,000 after acquiring an additional 653 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its holdings in shares of Kraft Heinz by 4.4% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 23,105 shares of the company's stock worth $811,000 after purchasing an additional 968 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Kraft Heinz by 7.8% during the third quarter. CIBC Asset Management Inc now owns 359,786 shares of the company's stock worth $12,632,000 after purchasing an additional 25,887 shares during the period. OneDigital Investment Advisors LLC lifted its holdings in shares of Kraft Heinz by 28.5% during the third quarter. OneDigital Investment Advisors LLC now owns 21,479 shares of the company's stock worth $754,000 after purchasing an additional 4,769 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Kraft Heinz by 6.1% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 25,789 shares of the company's stock worth $905,000 after purchasing an additional 1,474 shares during the period. Hedge funds and other institutional investors own 78.17% of the company's stock.

Insiders Place Their Bets

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the 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 in the company, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.37% of the company's stock.

Wall Street Analysts Forecast Growth

KHC has been the subject of a number of research reports. The Goldman Sachs Group decreased their target price on Kraft Heinz from $34.00 to $32.00 and set a "sell" rating for the company in a report on Thursday, October 31st. Evercore ISI decreased their price target on Kraft Heinz from $42.00 to $38.00 and set an "overweight" rating for the company in a report on Wednesday, July 31st. Mizuho decreased 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. Piper Sandler reissued a "neutral" rating and issued a $35.00 price target (down from $40.00) on shares of Kraft Heinz in a report on Tuesday. Finally, Barclays decreased their price target on Kraft Heinz from $36.00 to $35.00 and set an "equal weight" rating for the company in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Kraft Heinz currently has a consensus rating of "Hold" and a consensus price target of $36.55.

Kraft Heinz Price Performance

Shares of KHC traded up $0.22 during trading hours on Wednesday, hitting $30.80. 3,043,906 shares of the stock were exchanged, compared to its average volume of 7,887,586. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06. The Kraft Heinz Company has a 12-month low of $30.40 and a 12-month high of $38.96. The company has a market cap of $37.24 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 3.56 and a beta of 0.49. The stock's 50-day moving average price is $34.33 and its two-hundred day moving average price is $34.34.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.42 billion. During the same period last year, the company earned $0.72 EPS. The company's revenue for the quarter was down 2.8% on a year-over-year basis. Research analysts expect that The Kraft Heinz Company will post 3.01 earnings per share for the current year.

Kraft Heinz Dividend Announcement

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 paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date is Friday, November 29th. Kraft Heinz's dividend payout ratio (DPR) is presently 144.14%.

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.