Zacks Investment Management Acquires 38,009 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Zacks Investment Management lifted its stake in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 13.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 318,428 shares of the company's stock after acquiring an additional 38,009 shares during the quarter. Zacks Investment Management's holdings in Kraft Heinz were worth $11,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Simplicity Wealth LLC boosted its position in Kraft Heinz by 37.0% during the second quarter. Simplicity Wealth LLC now owns 18,112 shares of the company's stock valued at $584,000 after acquiring an additional 4,894 shares during the last quarter. OLD National Bancorp IN boosted its position in shares of Kraft Heinz by 2.3% during the 2nd quarter. OLD National Bancorp IN now owns 18,298 shares of the company's stock valued at $590,000 after purchasing an additional 413 shares in the last quarter. Czech National Bank grew its stake in Kraft Heinz by 7.2% during the second quarter. Czech National Bank now owns 150,408 shares of the company's stock worth $4,846,000 after purchasing an additional 10,131 shares during the period. Dynamic Advisor Solutions LLC increased its holdings in Kraft Heinz by 7.1% in the second quarter. Dynamic Advisor Solutions LLC now owns 49,148 shares of the company's stock worth $1,584,000 after purchasing an additional 3,262 shares in the last quarter. Finally, Wedmont Private Capital lifted its stake in Kraft Heinz by 180.7% in the second quarter. Wedmont Private Capital now owns 29,355 shares of the company's stock valued at $941,000 after buying an additional 18,897 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the 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 completion of the transaction, the executive vice president now directly owns 168,195 shares of the company's stock, valued at $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.32% of the company's stock.

Kraft Heinz Stock Down 0.3 %

Shares of KHC stock traded down $0.10 during trading hours on Friday, reaching $30.81. The company had a trading volume of 11,870,805 shares, compared to its average volume of 10,482,401. The business has a fifty day simple moving average of $33.40 and a 200-day simple moving average of $33.93. The Kraft Heinz Company has a 12 month low of $30.40 and a 12 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. The company has a market cap of $37.25 billion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 3.54 and a beta of 0.48.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.01. The firm had revenue of $6.38 billion for 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 revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.72 earnings per share. On average, research analysts expect that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

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

Wall Street Analysts Forecast Growth

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