Toroso Investments LLC Cuts Stake in the Kraft Heinz Company (NASDAQ:KHC)
Toroso Investments LLC lowered its position in shares of The Kraft Heinz Company (NASDAQ:KHC – Get Rating) by 38.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,627 shares of the company’s stock after selling 16,616 shares during the quarter. Toroso Investments LLC’s holdings in Kraft Heinz were worth $888,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Kraft Heinz by 25.3% during the 3rd quarter. BlackRock Inc. now owns 56,572,464 shares of the company’s stock valued at $1,886,694,000 after acquiring an additional 11,428,520 shares during the period. Vanguard Group Inc. lifted its position in shares of Kraft Heinz by 15.3% during the 3rd quarter. Vanguard Group Inc. now owns 67,502,147 shares of the company’s stock valued at $2,251,197,000 after acquiring an additional 8,948,708 shares during the period. Capital World Investors lifted its position in shares of Kraft Heinz by 96.5% during the 1st quarter. Capital World Investors now owns 13,312,000 shares of the company’s stock valued at $524,360,000 after acquiring an additional 6,537,000 shares during the period. Nuveen Asset Management LLC lifted its position in shares of Kraft Heinz by 301.2% during the 3rd quarter. Nuveen Asset Management LLC now owns 6,416,759 shares of the company’s stock valued at $213,999,000 after acquiring an additional 4,817,233 shares during the period. Finally, Continental Grain Co. acquired a new stake in shares of Kraft Heinz during the 2nd quarter valued at approximately $132,216,000. Hedge funds and other institutional investors own 68.80% of the company’s stock.
Insiders Place Their Bets
In other Kraft Heinz news, EVP Flavio Torres sold 250,571 shares of the stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $39.58, for a total transaction of $9,917,600.18. Following the transaction, the executive vice president now owns 188,983 shares of the company’s stock, valued at $7,479,947.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Melissa Werneck sold 3,500 shares of the stock in a transaction on Monday, January 9th. The shares were sold at an average price of $42.39, for a total value of $148,365.00. Following the completion of the sale, the executive vice president now owns 266,583 shares of the company’s stock, valued at $11,300,453.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Flavio Torres sold 250,571 shares of the stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $39.58, for a total transaction of $9,917,600.18. Following the completion of the sale, the executive vice president now directly owns 188,983 shares of the company’s stock, valued at approximately $7,479,947.14. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of Kraft Heinz in a research report on Tuesday, January 3rd. They set an “equal weight” rating and a $43.00 price target for the company. Piper Sandler raised their price objective on shares of Kraft Heinz from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Monday, February 13th. UBS Group raised their price objective on shares of Kraft Heinz from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, February 16th. StockNews.com started coverage on shares of Kraft Heinz in a research note on Thursday. They set a “hold” rating for the company. Finally, Credit Suisse Group reissued an “underperform” rating and set a $38.00 price objective (up from $36.00) on shares of Kraft Heinz in a research note on Thursday, February 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Kraft Heinz currently has an average rating of “Hold” and a consensus price target of $42.92.
Kraft Heinz Stock Down 1.4 %
Shares of NASDAQ KHC opened at $37.63 on Friday. The Kraft Heinz Company has a 1 year low of $32.73 and a 1 year high of $44.87. The firm’s 50 day moving average price is $39.78 and its 200 day moving average price is $38.31. The firm has a market cap of $46.10 billion, a P/E ratio of 19.70, a price-to-earnings-growth ratio of 3.45 and a beta of 0.70. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.47 and a current ratio of 0.87.
Kraft Heinz (NASDAQ:KHC – Get Rating) last posted its quarterly earnings results on Wednesday, February 15th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.07. The company had revenue of $7.38 billion for the quarter, compared to the consensus estimate of $7.23 billion. Kraft Heinz had a net margin of 8.92% and a return on equity of 7.03%. Kraft Heinz’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.79 earnings per share. As a group, sell-side analysts anticipate that The Kraft Heinz Company will post 2.72 earnings per share for the current year.
Kraft Heinz Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 10th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date is Thursday, March 9th. Kraft Heinz’s dividend payout ratio is currently 83.77%.
Kraft Heinz Company Profile
The Kraft Heinz Co engages in the manufacture and market of food and beverage products. The firm operates through the following geographical segments: United States, Canada and International. Its brands include Oscar Meyer, Velveeta, Smart Ones, Caprisun, Kool-Aid, Golden circle and Honig. The company was founded on July 2, 2015, and is headquartered in Pittsburgh, PA.
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