Clear Harbor Asset Management LLC Invests $684,000 in The Kraft Heinz Company (NASDAQ:KHC)

Clear Harbor Asset Management LLC acquired a new stake in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,469 shares of the company's stock, valued at approximately $684,000.

Other institutional investors have also recently modified their holdings of the company. MADDEN SECURITIES Corp boosted its stake in shares of Kraft Heinz by 2.4% in the third quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company's stock worth $448,000 after acquiring an additional 303 shares during the last quarter. HB Wealth Management LLC raised its stake in shares of Kraft Heinz by 2.5% in the 2nd quarter. HB Wealth Management LLC now owns 13,013 shares of the company's stock valued at $419,000 after acquiring an additional 314 shares during the period. Axiom Advisory LLC boosted its holdings 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 acquiring an additional 327 shares during the period. Lorne Steinberg Wealth Management Inc. increased its stake in Kraft Heinz by 0.3% during the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 109,600 shares of the company's stock worth $4,044,000 after buying an additional 335 shares during the period. Finally, Norden Group LLC raised its stake in shares of Kraft Heinz by 3.8% in the second quarter. Norden Group LLC now owns 9,321 shares of the company's stock valued at $300,000 after acquiring an additional 339 shares in the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Kraft Heinz Trading Up 1.1 %

NASDAQ:KHC traded up $0.39 on Monday, hitting $35.13. 7,061,448 shares of the stock were exchanged, compared to its average volume of 7,743,745. The stock has a market cap of $42.66 billion, a PE ratio of 15.34, a PEG ratio of 3.48 and a beta of 0.49. The Kraft Heinz Company has a fifty-two week low of $31.08 and a fifty-two week high of $38.96. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39. The stock has a fifty day moving average of $35.29 and a 200-day moving average of $34.88.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.73 by $0.05. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The firm had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same quarter last year, the firm posted $0.79 earnings per share. Kraft Heinz's revenue for the quarter was down 3.3% compared to the same quarter last year. As a group, equities analysts expect that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.55%. Kraft Heinz's dividend payout ratio (DPR) is currently 69.87%.

Insiders Place Their Bets

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the firm's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the completion of the transaction, the insider now directly owns 143,970 shares of the company's stock, valued at $5,182,920. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wells Fargo & Company increased their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an "equal weight" rating in a research note on Thursday, August 1st. Bank of America reduced their target price on shares of Kraft Heinz from $42.00 to $38.00 and set a "buy" rating for the company in a research note on Wednesday, July 10th. Evercore ISI decreased their target price on shares of Kraft Heinz from $42.00 to $38.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. decreased their target price on Kraft Heinz from $38.00 to $37.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus lowered shares of Kraft Heinz from a "buy" rating to a "hold" rating and lowered their price target for the company from $40.00 to $38.00 in a research report on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $37.58.

Kraft Heinz Company 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.