Public Sector Pension Investment Board Acquires 20,200 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Public Sector Pension Investment Board grew its stake in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 138.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,751 shares of the company's stock after purchasing an additional 20,200 shares during the quarter. Public Sector Pension Investment Board's holdings in Kraft Heinz were worth $1,220,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC grew its holdings in Kraft Heinz by 249.5% during the third quarter. Fortitude Family Office LLC now owns 741 shares of the company's stock valued at $26,000 after purchasing an additional 529 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of Kraft Heinz in the 3rd quarter valued at $27,000. DiNuzzo Private Wealth Inc. increased its position in shares of Kraft Heinz by 1,077.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company's stock valued at $31,000 after buying an additional 797 shares in the last quarter. Asset Dedication LLC increased its position in shares of Kraft Heinz by 94.8% in the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company's stock valued at $32,000 after buying an additional 476 shares in the last quarter. Finally, Bangor Savings Bank acquired a new stake in Kraft Heinz during the 3rd quarter worth $32,000. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Stock Performance

KHC traded down $0.10 during trading hours on Friday, reaching $30.81. The company's stock had a trading volume of 11,870,805 shares, compared to its average volume of 10,482,401. The company's 50-day moving average is $33.40 and its 200-day moving average is $33.94. The Kraft Heinz Company has a 52 week low of $30.40 and a 52 week high of $38.96. The firm has a market cap of $37.25 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 3.54 and a beta of 0.48. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $6.42 billion. During the same period in the prior year, the firm posted $0.72 EPS. The company's revenue for the quarter was down 2.8% on a year-over-year basis. On average, equities analysts forecast that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Dividend Announcement

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 dividend yield of 5.19%. The ex-dividend date is Friday, November 29th. Kraft Heinz's dividend payout ratio (DPR) is currently 144.14%.

Insider Buying and Selling

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the business's 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 transaction, the executive vice president now directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. The trade was a 21.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on KHC shares. Barclays lowered their price target on Kraft Heinz from $36.00 to $35.00 and set an "equal weight" rating for the company in a report on Friday, November 1st. Piper Sandler restated a "neutral" rating and issued a $35.00 price target (down from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft cut shares of Kraft Heinz from a "buy" rating to a "hold" rating and cut their price target for the stock from $39.00 to $35.00 in a research report on Thursday, October 31st. Mizuho reduced their price target on Kraft Heinz from $43.00 to $41.00 and set an "outperform" rating for the company in a research report on Thursday, October 31st. Finally, Citigroup lowered their price target on Kraft Heinz from $39.00 to $38.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $36.55.

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.