Infrastructure Capital Advisors LLC Sells 392 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Infrastructure Capital Advisors LLC cut its stake in The Kraft Heinz Company (NASDAQ:KHC) by 1.2% in the third quarter, HoldingsChannel.com reports. The fund owned 32,551 shares of the company’s stock after selling 392 shares during the period. Infrastructure Capital Advisors LLC’s holdings in Kraft Heinz were worth $1,143,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Fortitude Family Office LLC grew its stake in shares of Kraft Heinz by 249.5% in the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after acquiring an additional 529 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Kraft Heinz in the third quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. boosted its holdings in shares of Kraft Heinz by 1,077.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after buying an additional 797 shares during the last quarter. Bangor Savings Bank purchased a new position in shares of Kraft Heinz in the third quarter worth approximately $32,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Kraft Heinz in the third quarter worth approximately $33,000. 78.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

KHC has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $39.00 to $35.00 in a report on Thursday, October 31st. Piper Sandler reissued a “neutral” rating and issued a $35.00 price objective (down previously from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Stifel Nicolaus downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $40.00 to $38.00 in a report on Friday, October 25th. Citigroup lowered their price target on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, Wells Fargo & Company lifted their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Kraft Heinz currently has a consensus rating of “Hold” and a consensus target price of $36.55.

Kraft Heinz Price Performance

KHC stock opened at $31.93 on Friday. The Kraft Heinz Company has a one year low of $30.40 and a one year high of $38.96. The company’s fifty day moving average price is $33.83 and its 200-day moving average price is $34.16. 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 company has a market capitalization of $38.61 billion, a PE ratio of 28.77, a price-to-earnings-growth ratio of 3.65 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.42 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities analysts anticipate that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 5.01%. The ex-dividend date is Friday, November 29th. Kraft Heinz’s dividend payout ratio (DPR) is presently 144.14%.

Insider Transactions at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were 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 $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. 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 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.