Chicago Partners Investment Group LLC Buys New Stake in The Kraft Heinz Company (NASDAQ:KHC)

Chicago Partners Investment Group LLC bought a new stake in The Kraft Heinz Company (NASDAQ:KHC) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,710 shares of the company’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of KHC. Fortitude Family Office LLC grew its holdings 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 valued at $26,000 after purchasing an additional 529 shares in the last quarter. New Covenant Trust Company N.A. purchased a new position in Kraft Heinz during the first quarter worth $27,000. DiNuzzo Private Wealth Inc. boosted its stake in Kraft Heinz by 1,077.0% during 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 period. Asset Dedication LLC boosted its stake in Kraft Heinz by 94.8% during the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after buying an additional 476 shares during the period. Finally, Bangor Savings Bank purchased a new position in Kraft Heinz during the third quarter worth $32,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on KHC shares. Piper Sandler dropped their price objective on shares of Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered 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 research note on Thursday, October 31st. Citigroup lowered their target price on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Barclays lowered their target price on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Finally, Mizuho decreased their price objective on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $37.25.

Kraft Heinz Stock Performance

Shares of Kraft Heinz stock opened at $33.51 on Wednesday. The company has a market capitalization of $40.52 billion, a PE ratio of 30.19, a P/E/G ratio of 3.82 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 company has a 50-day simple moving average of $35.05 and a two-hundred day simple moving average of $34.75. The Kraft Heinz Company has a one year low of $31.58 and a one year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The business had revenue of $6.38 billion during 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 firm’s revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 earnings per share. Research analysts expect that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be issued a $0.40 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a yield of 4.77%. 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.