Charles Schwab Investment Management Inc. Purchases 545,504 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Charles Schwab Investment Management Inc. increased its position in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 11.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,307,598 shares of the company's stock after acquiring an additional 545,504 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.44% of Kraft Heinz worth $186,350,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC increased its position 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 buying an additional 529 shares during the period. New Covenant Trust Company N.A. purchased a new stake in shares of Kraft Heinz in the first quarter worth $27,000. Ashton Thomas Securities LLC bought a new stake in Kraft Heinz during the third quarter valued at $27,000. DiNuzzo Private Wealth Inc. grew its position in Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company's stock worth $31,000 after buying an additional 797 shares in the last quarter. Finally, Asset Dedication LLC increased its stake in Kraft Heinz by 94.8% in the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company's stock worth $32,000 after acquiring an additional 476 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KHC has been the subject of a number of research analyst reports. Stifel Nicolaus downgraded Kraft Heinz from a "buy" rating to a "hold" rating and dropped their price target for the company from $40.00 to $38.00 in a research report on Friday, October 25th. The Goldman Sachs Group dropped their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a "sell" rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company raised their price objective on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an "equal weight" rating in a research report on Thursday, August 1st. Barclays dropped their price objective on shares of Kraft Heinz from $36.00 to $35.00 and set an "equal weight" rating for the company in a report on Friday, November 1st. Finally, Piper Sandler reissued a "neutral" rating and issued a $35.00 target price (down previously from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $36.55.

Insider Activity

In related news, EVP Pedro F. P. Navio sold 45,000 shares of Kraft Heinz 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 owns 168,195 shares of the company's stock, valued at $5,626,122.75. The trade was a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.32% of the company's stock.

Kraft Heinz Trading Up 2.3 %

Shares of KHC stock traded up $0.72 during trading hours on Friday, reaching $31.81. The company's stock had a trading volume of 12,404,544 shares, compared to its average volume of 10,078,290. 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 firm's fifty day simple moving average is $34.08 and its 200 day simple moving average is $34.24. The stock has a market capitalization of $38.46 billion, a P/E ratio of 28.66, a P/E/G ratio of 3.55 and a beta of 0.49. The Kraft Heinz Company has a one year low of $30.40 and a one year high of $38.96.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its earnings results 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 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 quarter in the previous year, the business posted $0.72 EPS. The company's quarterly revenue was down 2.8% on a year-over-year basis. Equities research analysts expect that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be given a $0.40 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 5.03%. Kraft Heinz's dividend payout ratio (DPR) is presently 144.14%.

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.