Eastern Bank Invests $41,000 in The Kraft Heinz Company (NASDAQ:KHC)

Eastern Bank purchased a new stake in shares of The Kraft Heinz Company (NASDAQ:KHC) in the third quarter, Holdings Channel.com reports. The fund purchased 1,160 shares of the company’s stock, valued at approximately $41,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. New Covenant Trust Company N.A. acquired a new stake in Kraft Heinz during the 1st quarter valued at $27,000. DiNuzzo Private Wealth Inc. increased its holdings in Kraft Heinz by 1,077.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after purchasing an additional 797 shares in the last quarter. Bangor Savings Bank acquired a new stake in Kraft Heinz during the 3rd quarter valued at $32,000. Asset Dedication LLC increased its holdings in Kraft Heinz by 94.8% during the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after purchasing an additional 476 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Kraft Heinz by 221.5% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,016 shares of the company’s stock valued at $36,000 after purchasing an additional 700 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of Kraft Heinz stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $36.00, for a total transaction of $146,736.00. Following the transaction, the insider now directly owns 143,970 shares in the company, valued at approximately $5,182,920. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on KHC shares. Bank of America dropped their price target on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Stifel Nicolaus cut Kraft Heinz from a “buy” rating to a “hold” rating and lowered their target price for the company from $40.00 to $38.00 in a research note on Friday. The Goldman Sachs Group started coverage on Kraft Heinz in a research note on Monday, August 12th. They issued a “sell” rating and a $34.00 target price for the company. Evercore ISI lowered their target price on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, Barclays lifted their target price on Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Kraft Heinz has a consensus rating of “Hold” and a consensus target price of $37.58.

Kraft Heinz Stock Down 0.8 %

NASDAQ:KHC opened at $34.74 on Friday. The Kraft Heinz Company has a 12-month low of $31.08 and a 12-month high of $38.96. The company has a quick ratio of 0.53, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $42.00 billion, a P/E ratio of 22.27, a P/E/G ratio of 3.48 and a beta of 0.49. The stock’s fifty day simple moving average is $35.29 and its 200-day simple moving average is $34.91.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.05. The business had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The firm’s revenue was down 3.3% on a year-over-year basis. During the same period last year, the company earned $0.79 EPS. Equities research analysts expect that The Kraft Heinz Company will post 3.01 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.60 annualized dividend and a yield of 4.61%. Kraft Heinz’s dividend payout ratio is presently 102.56%.

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.