Assetmark Inc. Acquires 1,070 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Assetmark Inc. grew its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 1.1% during the third quarter, HoldingsChannel.com reports. The firm owned 97,462 shares of the company’s stock after acquiring an additional 1,070 shares during the quarter. Assetmark Inc.’s holdings in Kraft Heinz were worth $3,422,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in KHC. New Covenant Trust Company N.A. purchased a new stake in shares of Kraft Heinz in the first quarter valued at approximately $27,000. Fortitude Family Office LLC raised 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 acquiring an additional 529 shares in the last quarter. DiNuzzo Private Wealth Inc. lifted its stake in 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 acquiring an additional 797 shares during the period. Bangor Savings Bank bought a new position in Kraft Heinz during the 3rd quarter worth about $32,000. Finally, Capital Performance Advisors LLP purchased a new position in Kraft Heinz during the 3rd quarter valued at about $33,000. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Stock Performance

Shares of KHC opened at $32.00 on Wednesday. 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 stock has a 50-day moving average of $34.86 and a two-hundred day moving average of $34.59. The stock has a market cap of $38.69 billion, a P/E ratio of 29.31, a P/E/G ratio of 3.77 and a beta of 0.49. 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 issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping 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%. Kraft Heinz’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS. As a group, research analysts predict that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently declared 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. This represents a $1.60 annualized dividend and a yield of 5.00%. The ex-dividend date is Friday, November 29th. Kraft Heinz’s payout ratio is 144.14%.

Insider Buying and Selling at Kraft Heinz

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the sale, the executive vice president now owns 168,195 shares in the company, valued at $5,626,122.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on KHC shares. Deutsche Bank Aktiengesellschaft lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and cut their price objective for the company from $39.00 to $35.00 in a report on Thursday, October 31st. The Goldman Sachs Group decreased their price objective on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company lifted their target price on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Citigroup decreased their price target on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, Mizuho reduced their price objective on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Kraft Heinz has a consensus rating of “Hold” and a consensus price target of $37.25.

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.