The Kraft Heinz Company (NASDAQ:KHC) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc increased its stake in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 7.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 359,786 shares of the company's stock after acquiring an additional 25,887 shares during the period. CIBC Asset Management Inc's holdings in Kraft Heinz were worth $12,632,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KHC. Capital World Investors lifted its holdings in Kraft Heinz by 83.4% in the 1st quarter. Capital World Investors now owns 8,709,714 shares of the company's stock worth $321,388,000 after buying an additional 3,961,872 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Kraft Heinz by 47.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company's stock valued at $178,379,000 after acquiring an additional 1,778,263 shares in the last quarter. Marshall Wace LLP increased its position in Kraft Heinz by 260.8% during the 2nd quarter. Marshall Wace LLP now owns 1,169,657 shares of the company's stock valued at $37,686,000 after purchasing an additional 845,490 shares during the period. Poplar Forest Capital LLC bought a new position in Kraft Heinz in the 2nd quarter worth $26,353,000. Finally, Legal & General Group Plc lifted its position in shares of Kraft Heinz by 9.7% in the 2nd quarter. Legal & General Group Plc now owns 9,064,592 shares of the company's stock worth $292,061,000 after purchasing an additional 799,581 shares during the period. Institutional investors own 78.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on KHC shares. 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. Evercore ISI lowered their target price on Kraft Heinz from $42.00 to $38.00 and set an "overweight" rating for the company in a research note on Wednesday, July 31st. Wells Fargo & Company lifted their price target on Kraft Heinz from $34.00 to $35.00 and gave the company an "equal weight" rating in a research report on Thursday, August 1st. Stifel Nicolaus downgraded Kraft Heinz from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $40.00 to $38.00 in a report on Friday, October 25th. Finally, Mizuho dropped their target price on shares of Kraft Heinz from $43.00 to $41.00 and set an "outperform" rating on the stock in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $37.00.

Insider Buying and Selling at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of Kraft Heinz 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 sale, the executive vice president now owns 168,195 shares in the company, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is currently owned by insiders.

Kraft Heinz Stock Down 2.0 %

NASDAQ:KHC traded down $0.65 during mid-day trading on Friday, hitting $31.14. 17,403,523 shares of the company's stock traded hands, compared to its average volume of 8,422,634. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06. The company has a market capitalization of $37.65 billion, a P/E ratio of 28.05, a P/E/G ratio of 3.56 and a beta of 0.49. The company has a fifty day moving average of $34.53 and a 200 day moving average of $34.43. The Kraft Heinz Company has a twelve month low of $30.40 and a twelve month high of $38.96.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.42 billion. During the same quarter in the prior year, the company earned $0.72 EPS. Kraft Heinz's quarterly revenue was down 2.8% on a year-over-year basis. On average, analysts forecast that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Announces Dividend

The company also recently disclosed 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 of this dividend is Friday, November 29th. Kraft Heinz's dividend payout ratio is currently 144.14%.

About Kraft Heinz

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.