Geode Capital Management LLC Boosts Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Geode Capital Management LLC raised its position in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 11.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,150,328 shares of the company's stock after purchasing an additional 1,944,019 shares during the quarter. Geode Capital Management LLC owned 1.58% of Kraft Heinz worth $669,821,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in Kraft Heinz by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company's stock valued at $186,350,000 after acquiring an additional 545,504 shares during the period. Clifford Capital Partners LLC raised its stake in Kraft Heinz by 21.4% during the 2nd quarter. Clifford Capital Partners LLC now owns 454,884 shares of the company's stock valued at $14,656,000 after purchasing an additional 80,101 shares during the period. Banque Cantonale Vaudoise lifted its holdings in Kraft Heinz by 52.5% in the 3rd quarter. Banque Cantonale Vaudoise now owns 170,511 shares of the company's stock worth $5,988,000 after purchasing an additional 58,665 shares in the last quarter. Easterly Investment Partners LLC boosted its stake in Kraft Heinz by 39.4% in the 3rd quarter. Easterly Investment Partners LLC now owns 157,479 shares of the company's stock worth $5,529,000 after purchasing an additional 44,485 shares during the period. Finally, Los Angeles Capital Management LLC grew its holdings in Kraft Heinz by 1,760.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 655,312 shares of the company's stock valued at $23,008,000 after buying an additional 620,096 shares in the last quarter. Institutional investors own 78.17% of the company's stock.

Kraft Heinz Trading Up 0.8 %

NASDAQ:KHC traded up $0.26 during mid-day trading on Thursday, hitting $31.55. 8,996,144 shares of the stock traded hands, compared to its average volume of 8,129,992. 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 stock has a market capitalization of $38.15 billion, a price-to-earnings ratio of 28.19, a PEG ratio of 3.52 and a beta of 0.48. The Kraft Heinz Company has a 52 week low of $30.40 and a 52 week high of $38.96. The firm's 50 day moving average is $33.20 and its two-hundred day moving average is $33.85.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping 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 firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.42 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The company's revenue for the quarter was down 2.8% on a year-over-year basis. On average, equities research analysts predict that The Kraft Heinz Company will post 3.01 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date is Friday, November 29th. Kraft Heinz's payout ratio is presently 144.14%.

Wall Street Analyst Weigh In

KHC has been the subject of a number of research reports. Barclays dropped 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. Citigroup cut their price objective on Kraft Heinz from $39.00 to $38.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. Piper Sandler reiterated a "neutral" rating and issued a $35.00 target price (down from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. Mizuho cut 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. Finally, The Goldman Sachs Group lowered their target price on Kraft Heinz from $34.00 to $32.00 and set a "sell" rating for the company 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 assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $36.55.

Insider Buying and Selling

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of Kraft Heinz 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 sale, the executive vice president now directly owns 168,195 shares of the company's stock, valued at $5,626,122.75. The trade was a 21.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.37% of the stock is currently owned by 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.