The Manufacturers Life Insurance Company Grows Holdings in The Kraft Heinz Company (NASDAQ:KHC)

The Manufacturers Life Insurance Company grew its holdings in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 9.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 544,638 shares of the company's stock after purchasing an additional 46,740 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Kraft Heinz were worth $19,122,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in Kraft Heinz by 47.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company's stock worth $178,379,000 after purchasing an additional 1,778,263 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in shares of Kraft Heinz by 387.7% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 1,455,033 shares of the company's stock worth $51,086,000 after buying an additional 1,156,712 shares during the last quarter. Marshall Wace LLP raised its position in shares of 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 buying an additional 845,490 shares during the period. Poplar Forest Capital LLC acquired a new position in Kraft Heinz in the second quarter valued at approximately $26,353,000. Finally, Legal & General Group Plc grew its position in Kraft Heinz by 9.7% in the second quarter. Legal & General Group Plc now owns 9,064,592 shares of the company's stock worth $292,061,000 after acquiring an additional 799,581 shares during the period. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Stock Up 0.1 %

Shares of NASDAQ:KHC traded up $0.04 on Friday, hitting $31.97. 5,883,760 shares of the company's stock were exchanged, compared to its average volume of 9,989,345. The company has a market capitalization of $38.66 billion, a PE ratio of 28.80, a P/E/G ratio of 3.65 and a beta of 0.49. The Kraft Heinz Company has a 1-year low of $30.40 and a 1-year high of $38.96. 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 firm's 50-day moving average is $33.77 and its 200 day moving average is $34.10.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.01. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm's quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the company earned $0.72 EPS. Sell-side analysts predict that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 5.00%. Kraft Heinz's dividend payout ratio is presently 144.14%.

Analysts Set New Price Targets

KHC has been the topic of several recent analyst reports. Barclays decreased their price target on Kraft Heinz from $36.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Friday, November 1st. Mizuho decreased their target price on shares of Kraft Heinz from $43.00 to $41.00 and set an "outperform" rating on the stock in a research report on Thursday, October 31st. Citigroup dropped 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 report on Thursday, October 31st. Piper Sandler restated a "neutral" rating and issued a $35.00 price objective (down from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Kraft Heinz from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $39.00 to $35.00 in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $36.55.

Insider Transactions at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the firm's stock in a transaction dated Tuesday, November 5th. The stock was 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 trade represents a 21.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.32% of the company's stock.

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.