Wasatch Advisors LP Has $2.56 Million Stake in The Kraft Heinz Company (NASDAQ:KHC)

Wasatch Advisors LP reduced its position in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 35.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,961 shares of the company's stock after selling 40,039 shares during the quarter. Wasatch Advisors LP's holdings in Kraft Heinz were worth $2,562,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. LSV Asset Management grew its position in Kraft Heinz by 2.1% in the 2nd quarter. LSV Asset Management now owns 9,107,688 shares of the company's stock worth $293,450,000 after purchasing an additional 189,000 shares during the last quarter. Legal & General Group Plc grew its holdings in 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 buying an additional 799,581 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Kraft Heinz by 47.3% in the 2nd 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 during the period. Charles Schwab Investment Management Inc. raised its stake in Kraft Heinz by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company's stock valued at $186,350,000 after acquiring an additional 545,504 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in Kraft Heinz by 14.2% during the 2nd quarter. AQR Capital Management LLC now owns 4,063,076 shares of the company's stock worth $130,912,000 after acquiring an additional 505,180 shares during the period. Institutional investors and hedge funds own 78.17% of the company's stock.

Kraft Heinz Price Performance

Shares of Kraft Heinz stock traded down $0.36 during trading on Monday, hitting $31.61. 13,136,152 shares of the company's stock traded hands, compared to its average volume of 8,024,432. The company has a market cap of $38.22 billion, a PE ratio of 28.48, a PEG ratio of 3.65 and a beta of 0.49. The firm's fifty day moving average price is $33.77 and its 200 day moving average price is $34.10. The Kraft Heinz Company has a twelve month low of $30.40 and a twelve month high of $38.96. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The company's quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 earnings per share. Analysts forecast that The Kraft Heinz Company will post 3.01 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.06%. Kraft Heinz's payout ratio is presently 144.14%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Mizuho dropped their price objective on Kraft Heinz from $43.00 to $41.00 and set an "outperform" rating on the stock in a research note on Thursday, October 31st. Stifel Nicolaus downgraded shares of Kraft Heinz from a "buy" rating to a "hold" rating and cut their price target for the company from $40.00 to $38.00 in a report on Friday, October 25th. 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 note on Thursday, October 31st. Piper Sandler restated a "neutral" rating and set a $35.00 target price (down from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Finally, Citigroup dropped their price target on Kraft Heinz from $39.00 to $38.00 and set a "buy" rating on the stock in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $36.55.

Insider Activity

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the 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 sale, the executive vice president now directly owns 168,195 shares in the company, valued at $5,626,122.75. This represents a 21.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is owned by corporate insiders.

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.