The Kraft Heinz Company (NASDAQ:KHC) Shares Purchased by New England Asset Management Inc.

New England Asset Management Inc. grew its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 3.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,200 shares of the company’s stock after purchasing an additional 2,505 shares during the quarter. New England Asset Management Inc.’s holdings in Kraft Heinz were worth $2,956,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. LSV Asset Management boosted its position in Kraft Heinz by 2.1% during the second quarter. LSV Asset Management now owns 9,107,688 shares of the company’s stock worth $293,450,000 after acquiring an additional 189,000 shares during the last quarter. Legal & General Group Plc lifted its stake 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 purchasing an additional 799,581 shares in the last quarter. Capital World Investors boosted its holdings in shares of Kraft Heinz by 83.4% during the 1st quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock worth $321,388,000 after purchasing an additional 3,961,872 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Kraft Heinz by 47.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock valued at $178,379,000 after purchasing an additional 1,778,263 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Kraft Heinz by 14.2% in the second quarter. AQR Capital Management LLC now owns 4,063,076 shares of the company’s stock valued at $130,912,000 after purchasing an additional 505,180 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Insider Activity

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction 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 owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

KHC has been the topic of a number of recent research reports. The Goldman Sachs Group lowered their price objective on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a research note on Thursday, October 31st. Mizuho dropped their price objective on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and cut their price objective for the stock from $39.00 to $35.00 in a research report on Thursday, October 31st. Piper Sandler decreased their target price on shares of Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Finally, Wells Fargo & Company raised their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Kraft Heinz presently has a consensus rating of “Hold” and a consensus target price of $37.00.

Kraft Heinz Stock Performance

NASDAQ:KHC opened at $31.07 on Tuesday. The stock has a market capitalization of $37.57 billion, a P/E ratio of 27.99, a PEG ratio of 3.56 and a beta of 0.49. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06. The Kraft Heinz Company has a fifty-two week low of $30.40 and a fifty-two week high of $38.96. The company has a 50 day moving average price of $34.43 and a 200 day moving average price of $34.38.

Kraft Heinz (NASDAQ:KHC) last issued 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. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.42 billion. During the same period in the previous year, the firm posted $0.72 earnings per share. The company’s revenue was down 2.8% on a year-over-year basis. Equities research analysts forecast that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 5.15%. Kraft Heinz’s dividend payout ratio is presently 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.