Sumitomo Mitsui Trust Group Inc. Has $92.64 Million Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 1.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,638,422 shares of the company's stock after acquiring an additional 47,335 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.22% of Kraft Heinz worth $92,635,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC lifted its holdings in shares of 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 acquiring an additional 529 shares during the period. New Covenant Trust Company N.A. bought a new position in shares of Kraft Heinz in the first quarter valued at about $27,000. Ashton Thomas Securities LLC bought a new position in shares of Kraft Heinz in the third quarter valued at about $27,000. DiNuzzo Private Wealth Inc. raised its holdings in shares of Kraft Heinz by 1,077.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company's stock valued at $31,000 after buying an additional 797 shares during the last quarter. Finally, Asset Dedication LLC raised its holdings in shares of Kraft Heinz by 94.8% in the second quarter. Asset Dedication LLC now owns 978 shares of the company's stock valued at $32,000 after buying an additional 476 shares during the last quarter. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Trading Down 0.4 %

Shares of KHC traded down $0.12 during trading hours on Thursday, reaching $32.01. The stock had a trading volume of 4,897,321 shares, compared to its average volume of 7,794,572. The Kraft Heinz Company has a 52 week low of $31.58 and a 52 week high of $38.96. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The company has a market cap of $38.71 billion, a P/E ratio of 28.95, a P/E/G ratio of 3.65 and a beta of 0.49. The firm has a 50-day moving average of $34.71 and a 200 day moving average of $34.53.

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, topping analysts' consensus estimates of $0.74 by $0.01. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The firm's quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the business posted $0.72 earnings per share. On average, sell-side analysts expect that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

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 paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 5.00%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz's payout ratio is 144.14%.

Analyst Ratings Changes

A number of research firms recently issued reports on KHC. Piper Sandler cut 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. The Goldman Sachs Group cut their price target on Kraft Heinz from $34.00 to $32.00 and set a "sell" 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 dropped their price objective for the stock from $40.00 to $38.00 in a report on Friday, October 25th. Evercore ISI dropped their price objective on Kraft Heinz from $42.00 to $38.00 and set an "overweight" rating for the company in a report on Wednesday, July 31st. Finally, Wells Fargo & Company boosted their price objective on Kraft Heinz from $34.00 to $35.00 and gave the stock an "equal weight" rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Kraft Heinz has a consensus rating of "Hold" and an average price target of $37.25.

Insider Activity

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 168,195 shares in the company, valued at $5,626,122.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.32% of the stock is owned by corporate insiders.

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.