Toronto Dominion Bank Increases Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Toronto Dominion Bank grew its position in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 12.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 487,938 shares of the company's stock after purchasing an additional 54,656 shares during the period. Toronto Dominion Bank's holdings in Kraft Heinz were worth $17,132,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in KHC. Fortitude Family Office LLC raised its stake in Kraft Heinz by 249.5% in the third quarter. Fortitude Family Office LLC now owns 741 shares of the company's stock valued at $26,000 after purchasing an additional 529 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Kraft Heinz during the 3rd quarter valued at $27,000. DiNuzzo Private Wealth Inc. lifted its holdings in shares of Kraft Heinz by 1,077.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company's stock worth $31,000 after acquiring an additional 797 shares during the last quarter. Asset Dedication LLC grew its position in Kraft Heinz by 94.8% in the second quarter. Asset Dedication LLC now owns 978 shares of the company's stock worth $32,000 after acquiring an additional 476 shares in the last quarter. Finally, Bangor Savings Bank bought a new position in Kraft Heinz in the third quarter valued at $32,000. Institutional investors own 78.17% of the company's stock.

Kraft Heinz Stock Performance

NASDAQ KHC traded up $0.14 during trading hours on Friday, hitting $31.69. The company's stock had a trading volume of 7,348,410 shares, compared to its average volume of 8,126,793. The Kraft Heinz Company has a 12 month low of $30.40 and a 12 month high of $38.96. The company's 50 day simple moving average is $33.15 and its two-hundred day simple moving average is $33.83. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. The company has a market cap of $38.32 billion, a P/E ratio of 28.42, a price-to-earnings-growth ratio of 3.57 and a beta of 0.48.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The firm's revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 EPS. As a group, sell-side analysts expect that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 5.05%. Kraft Heinz's payout ratio is presently 144.14%.

Insider Transactions at Kraft Heinz

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group cut their price objective on shares of Kraft Heinz from $34.00 to $32.00 and set a "sell" rating for the company in a research note on Thursday, October 31st. Citigroup reduced their price objective on Kraft Heinz from $39.00 to $38.00 and set a "buy" rating on the stock in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered Kraft Heinz from a "buy" rating to a "hold" rating and lowered their target price for the company from $39.00 to $35.00 in a research note on Thursday, October 31st. Mizuho reduced their price target on Kraft Heinz from $43.00 to $41.00 and set an "outperform" rating on the stock in a research report on Thursday, October 31st. Finally, Barclays dropped their price objective on Kraft Heinz from $36.00 to $35.00 and set an "equal weight" rating for the company in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $36.55.

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.