Worldquant Millennium Advisors LLC Buys Shares of 100,319 The Kraft Heinz Company (NASDAQ:KHC)

Worldquant Millennium Advisors LLC purchased a new stake in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 100,319 shares of the company's stock, valued at approximately $3,522,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in KHC. MADDEN SECURITIES Corp lifted its holdings in shares of Kraft Heinz by 2.4% during the third quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company's stock worth $448,000 after purchasing an additional 303 shares during the period. HB Wealth Management LLC lifted its stake in Kraft Heinz by 2.5% during the 2nd quarter. HB Wealth Management LLC now owns 13,013 shares of the company's stock valued at $419,000 after acquiring an additional 314 shares during the period. Axiom Advisory LLC boosted its holdings in shares of Kraft Heinz by 5.2% in the 3rd quarter. Axiom Advisory LLC now owns 6,594 shares of the company's stock valued at $227,000 after acquiring an additional 327 shares during the last quarter. Norden Group LLC increased its stake 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 acquiring an additional 339 shares during the period. Finally, Valley Wealth Managers Inc. raised its holdings in shares of Kraft Heinz by 46.4% during the second 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 last quarter. Hedge funds and other institutional investors own 78.17% of the company's stock.

Wall Street Analyst Weigh In

KHC has been the topic of several analyst reports. Piper Sandler reaffirmed a "neutral" rating and set a $35.00 price target (down from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. The Goldman Sachs Group dropped their target price on Kraft Heinz from $34.00 to $32.00 and set a "sell" rating on the stock in a report on Thursday, October 31st. Citigroup reduced their price target on Kraft Heinz from $39.00 to $38.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. Barclays lowered their price objective 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. Finally, Stifel Nicolaus lowered shares of Kraft Heinz from a "buy" rating to a "hold" rating and cut their target price for the company from $40.00 to $38.00 in a report on Friday, October 25th. One equities research 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, the stock currently has an average rating of "Hold" and an average target price of $36.55.

Kraft Heinz Price Performance

NASDAQ KHC traded down $0.10 on Friday, hitting $30.81. The company had a trading volume of 11,870,805 shares, compared to its average volume of 10,482,401. 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's fifty day moving average price is $33.40 and its 200-day moving average price is $33.94. The company has a market capitalization of $37.25 billion, a PE ratio of 27.76, a PEG ratio of 3.54 and a beta of 0.48. The Kraft Heinz Company has a 12-month low of $30.40 and a 12-month high of $38.96.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released 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 analysts' expectations of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The company's quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.72 earnings per share. As a group, analysts predict that The Kraft Heinz Company will post 3.01 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date is Friday, November 29th. Kraft Heinz's dividend payout ratio is presently 144.14%.

Insider Buying and Selling

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now directly owns 168,195 shares of the company's stock, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.32% of the stock is owned by company insiders.

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.