Victory Capital Management Inc. Has $54.92 Million Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Victory Capital Management Inc. lessened its stake in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 3.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,564,272 shares of the company's stock after selling 50,932 shares during the period. Victory Capital Management Inc. owned approximately 0.13% of Kraft Heinz worth $54,922,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. MADDEN SECURITIES Corp lifted its position in Kraft Heinz by 2.4% during the third quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company's stock valued at $448,000 after purchasing an additional 303 shares in the last quarter. HB Wealth Management LLC raised its position in Kraft Heinz by 2.5% during the second quarter. HB Wealth Management LLC now owns 13,013 shares of the company's stock valued at $419,000 after purchasing an additional 314 shares during the period. Axiom Advisory LLC raised its holdings in shares of Kraft Heinz by 5.2% in the third quarter. Axiom Advisory LLC now owns 6,594 shares of the company's stock worth $227,000 after buying an additional 327 shares during the period. Norden Group LLC raised its holdings in shares of Kraft Heinz by 3.8% in the second quarter. Norden Group LLC now owns 9,321 shares of the company's stock worth $300,000 after buying an additional 339 shares during the period. Finally, Valley Wealth Managers Inc. increased its holdings in Kraft Heinz by 46.4% during the 2nd quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company's stock worth $35,000 after purchasing an additional 340 shares during the period. Institutional investors own 78.17% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Citigroup dropped their target price on Kraft Heinz from $39.00 to $38.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered Kraft Heinz from a "buy" rating to a "hold" rating and cut their price target for the company from $39.00 to $35.00 in a research note on Thursday, October 31st. Piper Sandler lowered their target price on Kraft Heinz from $41.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, October 31st. Stifel Nicolaus cut Kraft Heinz from a "buy" rating to a "hold" rating and decreased their price objective for the company from $40.00 to $38.00 in a report on Friday, October 25th. Finally, Barclays cut their target price on Kraft Heinz from $36.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $37.00.

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 shares were sold at an average price of $33.45, for a total value of $1,505,250.00. Following the sale, the executive vice president now directly owns 168,195 shares in the company, valued at $5,626,122.75. The trade was a 21.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.32% of the company's stock.

Kraft Heinz Price Performance

Kraft Heinz stock traded down $0.66 during mid-day trading on Friday, reaching $31.13. The company had a trading volume of 9,259,225 shares, compared to its average volume of 7,826,873. 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 stock's 50-day simple moving average is $34.62 and its 200-day simple moving average is $34.52. The Kraft Heinz Company has a 1 year low of $30.40 and a 1 year high of $38.96. The company has a market capitalization of $37.64 billion, a P/E ratio of 28.17, a P/E/G ratio of 3.67 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share 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 company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. During the same quarter last year, the business earned $0.72 EPS. Kraft Heinz's revenue for the quarter was down 2.8% on a year-over-year basis. On average, equities analysts predict that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be paid a dividend of $0.40 per share. 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 (DPR) is 144.14%.

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.