Caprock Group LLC Grows Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Caprock Group LLC boosted its stake in The Kraft Heinz Company (NASDAQ:KHC) by 5.1% in the third quarter, Holdings Channel.com reports. The fund owned 52,508 shares of the company’s stock after buying an additional 2,538 shares during the quarter. Caprock Group LLC’s holdings in Kraft Heinz were worth $1,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Pathstone Holdings LLC raised its holdings in shares of Kraft Heinz by 34.4% in the third quarter. Pathstone Holdings LLC now owns 96,151 shares of the company’s stock valued at $3,376,000 after buying an additional 24,606 shares during the last quarter. New England Asset Management Inc. raised its holdings in shares of Kraft Heinz by 3.1% in the third quarter. New England Asset Management Inc. now owns 84,200 shares of the company’s stock valued at $2,956,000 after buying an additional 2,505 shares during the last quarter. Aviso Wealth Management raised its holdings in shares of Kraft Heinz by 14.4% in the third quarter. Aviso Wealth Management now owns 66,397 shares of the company’s stock valued at $2,331,000 after buying an additional 8,338 shares during the last quarter. Swiss National Bank raised its holdings in shares of Kraft Heinz by 0.3% in the third quarter. Swiss National Bank now owns 2,702,842 shares of the company’s stock valued at $94,897,000 after buying an additional 9,000 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in shares of Kraft Heinz by 23.0% during the third quarter. Thrivent Financial for Lutherans now owns 52,628 shares of the company’s stock worth $1,848,000 after acquiring an additional 9,833 shares during the period. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Stock Up 1.0 %

Shares of NASDAQ KHC opened at $30.88 on Thursday. The Kraft Heinz Company has a 12-month low of $30.40 and a 12-month high of $38.96. The company has a market capitalization of $37.34 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 3.56 and a beta of 0.49. 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 firm’s 50-day moving average is $34.24 and its two-hundred day moving average is $34.32.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.01. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate 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 prior year, the firm earned $0.72 earnings per share. Equities analysts anticipate that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.18%. The ex-dividend date is Friday, November 29th. Kraft Heinz’s payout ratio is 144.14%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Mizuho dropped their price target on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Citigroup dropped their price target on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Evercore ISI dropped their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. JPMorgan Chase & Co. dropped their price target on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Finally, Piper Sandler restated a “neutral” rating and set a $35.00 target price (down from $40.00) on shares of Kraft Heinz in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $36.55.

Insider Activity at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.37% of the company’s stock.

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.