Stonegate Investment Group LLC Increases Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Stonegate Investment Group LLC lifted its stake in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 183.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,502 shares of the company's stock after buying an additional 17,146 shares during the quarter. Stonegate Investment Group LLC's holdings in Kraft Heinz were worth $930,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New Covenant Trust Company N.A. purchased a new stake in shares of Kraft Heinz during the 1st quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. raised its stake in Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company's stock valued at $31,000 after purchasing an additional 797 shares in the last quarter. Bangor Savings Bank bought a new position in Kraft Heinz during the third quarter valued at $32,000. Asset Dedication LLC grew its stake in shares of Kraft Heinz by 94.8% in the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company's stock worth $32,000 after buying an additional 476 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Kraft Heinz by 221.5% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,016 shares of the company's stock worth $36,000 after buying an additional 700 shares during the last quarter. Institutional investors own 78.17% of the company's stock.

Insiders Place Their Bets

In other news, insider Cory Onell sold 4,076 shares of the company's stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total value of $146,736.00. Following the completion of the sale, the insider now owns 143,970 shares of the company's stock, valued at approximately $5,182,920. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. The Goldman Sachs Group started coverage on Kraft Heinz in a research report on Monday, August 12th. They issued a "sell" rating and a $34.00 price target for the company. Citigroup cut their target price on Kraft Heinz from $41.00 to $39.00 and set a "buy" rating on the stock in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lowered their price target on Kraft Heinz from $38.00 to $37.00 and set a "neutral" rating for the company in a research report on Wednesday, July 31st. Wells Fargo & Company boosted their price objective on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an "equal weight" rating in a research report on Thursday, August 1st. Finally, Evercore ISI lowered their target price on shares of Kraft Heinz from $42.00 to $38.00 and set an "overweight" rating for the company in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Kraft Heinz presently has a consensus rating of "Hold" and a consensus price target of $37.55.

Kraft Heinz Trading Up 0.1 %

KHC traded up $0.05 on Friday, reaching $36.00. 5,503,911 shares of the company traded hands, compared to its average volume of 7,751,592. The company has a quick ratio of 0.53, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. The company has a market cap of $43.71 billion, a P/E ratio of 15.72, a price-to-earnings-growth ratio of 3.39 and a beta of 0.49. The firm has a fifty day simple moving average of $35.20 and a two-hundred day simple moving average of $34.98. The Kraft Heinz Company has a one year low of $31.08 and a one year high of $38.96.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.05. The firm had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. Kraft Heinz's quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.79 earnings per share. As a group, equities research analysts expect that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date was Friday, August 30th. Kraft Heinz's dividend payout ratio (DPR) is presently 69.87%.

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.