Investment Management Corp of Ontario Has $2.51 Million Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Investment Management Corp of Ontario reduced its holdings in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 25.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 71,565 shares of the company's stock after selling 24,883 shares during the quarter. Investment Management Corp of Ontario's holdings in Kraft Heinz were worth $2,513,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. MADDEN SECURITIES Corp lifted its position in Kraft Heinz by 2.4% in the 3rd quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company's stock valued at $448,000 after purchasing an additional 303 shares during the last quarter. HB Wealth Management LLC increased its stake in Kraft Heinz by 2.5% during the 2nd quarter. HB Wealth Management LLC now owns 13,013 shares of the company's stock valued at $419,000 after buying an additional 314 shares during the period. Axiom Advisory LLC increased its stake in Kraft Heinz by 5.2% during the 3rd quarter. Axiom Advisory LLC now owns 6,594 shares of the company's stock valued at $227,000 after buying an additional 327 shares during the period. Norden Group LLC increased its stake in Kraft Heinz by 3.8% during the 2nd quarter. Norden Group LLC now owns 9,321 shares of the company's stock valued at $300,000 after buying an additional 339 shares during the period. Finally, Valley Wealth Managers Inc. increased its stake in Kraft Heinz by 46.4% during the 2nd quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company's stock valued at $35,000 after buying an additional 340 shares during the period. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Trading Down 0.3 %

Shares of Kraft Heinz stock traded down $0.09 during trading on Thursday, hitting $30.91. The stock had a trading volume of 10,089,547 shares, compared to its average volume of 8,063,196. The stock has a 50 day simple moving average of $33.49 and a 200 day simple moving average of $33.99. The company has a market capitalization of $37.38 billion, a PE ratio of 27.85, a P/E/G ratio of 3.59 and a beta of 0.48. 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 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 posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.74 by $0.01. The business had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The firm's quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company posted $0.72 earnings per share. On average, research 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 declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.18%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz's dividend payout ratio is currently 144.14%.

Analyst Upgrades and Downgrades

Several research firms have commented on KHC. Barclays lowered their target price on shares of Kraft Heinz from $36.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft cut shares of Kraft Heinz from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $39.00 to $35.00 in a research note on Thursday, October 31st. Mizuho lowered 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. Piper Sandler reaffirmed a "neutral" rating and issued a $35.00 price objective (down previously from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. Finally, Stifel Nicolaus cut shares of Kraft Heinz from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $40.00 to $38.00 in a research note on Friday, October 25th. 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, the stock presently has a consensus rating of "Hold" and a consensus price target 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 that occurred 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 directly owns 168,195 shares in the company, valued at $5,626,122.75. The trade was 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. 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.