Advisors Asset Management Inc. Has $1.91 Million Stake in The Kraft Heinz Company (NASDAQ:KHC)

Advisors Asset Management Inc. raised its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 232.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 54,514 shares of the company’s stock after purchasing an additional 38,132 shares during the period. Advisors Asset Management Inc.’s holdings in Kraft Heinz were worth $1,914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in KHC. Fortitude Family Office LLC increased its stake in 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 during the period. New Covenant Trust Company N.A. acquired a new position in shares of Kraft Heinz in the 1st quarter worth approximately $27,000. Ashton Thomas Securities LLC bought a new position in shares of Kraft Heinz during the 3rd quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. boosted its stake in Kraft Heinz by 1,077.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after buying an additional 797 shares in the last quarter. Finally, Asset Dedication LLC grew its position in Kraft Heinz by 94.8% in the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after acquiring an additional 476 shares during the period. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Stock Up 2.3 %

NASDAQ KHC opened at $31.81 on Monday. The stock has a market capitalization of $38.46 billion, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 3.55 and a beta of 0.49. The Kraft Heinz Company has a 52 week low of $30.40 and a 52 week high of $38.96. 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 fifty day moving average of $34.08 and a 200-day moving average of $34.24.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The company had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.42 billion. During the same quarter in the previous year, the company earned $0.72 EPS. Kraft Heinz’s revenue was down 2.8% on a year-over-year basis. On average, equities research analysts forecast that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be given a $0.40 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 5.03%. Kraft Heinz’s dividend payout ratio is currently 144.14%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price objective on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Piper Sandler restated a “neutral” rating and issued a $35.00 price target (down from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. Evercore ISI dropped their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Barclays reduced their target price on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. Finally, Mizuho dropped their price target 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, six have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $36.55.

Insider Buying and Selling

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were 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 directly owns 168,195 shares in the company, valued at $5,626,122.75. This trade represents a 21.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.32% of the stock is owned by insiders.

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.