Oppenheimer Asset Management Inc. Raises Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Oppenheimer Asset Management Inc. grew its stake in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 9.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 204,200 shares of the company's stock after acquiring an additional 17,969 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Kraft Heinz were worth $7,169,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pinnacle Financial Partners Inc grew its position in Kraft Heinz by 4.2% during the third quarter. Pinnacle Financial Partners Inc now owns 9,560 shares of the company's stock valued at $336,000 after buying an additional 381 shares during the period. MQS Management LLC purchased a new position in shares of Kraft Heinz in the 3rd quarter worth approximately $420,000. Community Bank & Trust Waco Texas lifted its stake in Kraft Heinz by 20.3% during the 3rd quarter. Community Bank & Trust Waco Texas now owns 62,635 shares of the company's stock valued at $2,199,000 after acquiring an additional 10,590 shares during the period. Empower Advisory Group LLC lifted its stake in shares of Kraft Heinz by 3.1% in the 3rd quarter. Empower Advisory Group LLC now owns 2,030,416 shares of the company's stock valued at $71,288,000 after purchasing an additional 61,338 shares during the period. Finally, Ashton Thomas Private Wealth LLC increased its holdings in Kraft Heinz by 4.7% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 17,185 shares of the company's stock worth $603,000 after acquiring an additional 767 shares in the last quarter. 78.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

KHC has been the topic of several recent analyst reports. Evercore ISI dropped their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 31st. Citigroup cut their price target on Kraft Heinz from $39.00 to $38.00 and set a "buy" rating for the company in a research note on Thursday, October 31st. Piper Sandler lowered their price target on Kraft Heinz from $41.00 to $40.00 and set an "overweight" rating for the company in a report on Thursday, October 31st. Stifel Nicolaus cut Kraft Heinz from a "buy" rating to a "hold" rating and decreased their target price for the stock from $40.00 to $38.00 in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. cut 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $37.00.

Insider Buying and Selling

In related 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 value 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 approximately $5,626,122.75. This represents a 21.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.32% of the stock is owned by corporate insiders.

Kraft Heinz Price Performance

Shares of Kraft Heinz stock traded down $0.66 during trading hours on Friday, reaching $31.13. The company's stock had a trading volume of 9,259,223 shares, compared to its average volume of 7,828,962. The firm has a 50 day moving average price of $34.62 and a 200-day moving average price of $34.52. The Kraft Heinz Company has a one year low of $30.40 and a one year high of $38.96. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. The stock has a market cap of $37.64 billion, a P/E ratio of 28.17, a P/E/G ratio of 3.67 and a beta of 0.49.

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, beating the consensus estimate of $0.74 by $0.01. The firm had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The business's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 earnings per share. On average, analysts predict that The Kraft Heinz Company will post 3.01 EPS for the current 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 paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 5.14%. The ex-dividend date is Friday, November 29th. Kraft Heinz's dividend payout ratio is 144.14%.

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.