Rockefeller Capital Management L.P. Trims Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Rockefeller Capital Management L.P. reduced its holdings in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 77.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 83,282 shares of the company's stock after selling 292,832 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Kraft Heinz were worth $2,924,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Mather Group LLC. boosted its position in shares of Kraft Heinz by 23.1% during the 2nd quarter. Mather Group LLC. now owns 3,826 shares of the company's stock worth $123,000 after purchasing an additional 719 shares in the last quarter. Simplicity Wealth LLC grew its stake in Kraft Heinz by 37.0% in the second quarter. Simplicity Wealth LLC now owns 18,112 shares of the company's stock valued at $584,000 after acquiring an additional 4,894 shares during the period. Clarius Group LLC bought a new stake in shares of Kraft Heinz during the second quarter valued at approximately $268,000. Symmetry Partners LLC raised its position in shares of Kraft Heinz by 18.5% during the second quarter. Symmetry Partners LLC now owns 7,980 shares of the company's stock worth $257,000 after purchasing an additional 1,244 shares during the period. Finally, Manning & Napier Advisors LLC bought a new position in shares of Kraft Heinz in the 2nd quarter worth $12,989,000. 78.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the company'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 transaction of $1,505,250.00. Following the sale, the executive vice president now directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.32% of the company's stock.

Kraft Heinz Stock Performance

Shares of NASDAQ:KHC traded down $0.10 during midday trading on Friday, reaching $30.81. The company had a trading volume of 11,870,805 shares, compared to its average volume of 8,079,333. The stock has a market cap of $37.25 billion, a P/E ratio of 27.76, a P/E/G ratio of 3.59 and a beta of 0.48. The company's 50 day moving average price is $33.49 and its 200 day moving average price is $33.99. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The Kraft Heinz Company has a 52-week low of $30.40 and a 52-week high of $38.96.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The firm had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.42 billion. During the same period in the previous year, the company earned $0.72 earnings per share. The company's quarterly revenue was down 2.8% on a year-over-year basis. As a group, sell-side analysts anticipate that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date is Friday, November 29th. Kraft Heinz's dividend payout ratio is currently 144.14%.

Analyst Ratings Changes

A number of brokerages have commented on KHC. Citigroup decreased their price target on shares of Kraft Heinz from $39.00 to $38.00 and set a "buy" rating for the company in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered shares of Kraft Heinz from a "buy" rating to a "hold" rating and lowered their target price for the stock from $39.00 to $35.00 in a report on Thursday, October 31st. Mizuho decreased their price objective on Kraft Heinz from $43.00 to $41.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. Barclays dropped their target price on Kraft Heinz from $36.00 to $35.00 and set an "equal weight" rating on the stock in a report on Friday, November 1st. Finally, Stifel Nicolaus downgraded Kraft Heinz from a "buy" rating to a "hold" rating and decreased their price target for the stock from $40.00 to $38.00 in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Kraft Heinz has a consensus rating of "Hold" and an average target price 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.