Pathstone Holdings LLC Buys 24,606 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Pathstone Holdings LLC increased its stake in The Kraft Heinz Company (NASDAQ:KHC) by 34.4% during the third quarter, Holdings Channel.com reports. The firm owned 96,151 shares of the company’s stock after purchasing an additional 24,606 shares during the quarter. Pathstone Holdings LLC’s holdings in Kraft Heinz were worth $3,376,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Fortitude Family Office LLC lifted its position in shares of Kraft Heinz by 249.5% during the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after buying 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 valued at approximately $27,000. Ashton Thomas Securities LLC bought a new position in shares of Kraft Heinz in the third quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. increased its stake in shares of 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 purchasing an additional 797 shares in the last quarter. Finally, Asset Dedication LLC raised its position in shares of Kraft Heinz by 94.8% during the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after purchasing an additional 476 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on KHC. Wells Fargo & Company upped their target price on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Barclays cut their target price on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Piper Sandler reissued a “neutral” rating and issued a $35.00 price target (down from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Citigroup reduced their price objective on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Finally, Evercore ISI dropped their target price on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average 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 dated 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 directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.32% of the stock is currently owned by insiders.

Kraft Heinz Price Performance

Kraft Heinz stock opened at $31.81 on Monday. The Kraft Heinz Company has a 52-week low of $30.40 and a 52-week high of $38.96. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The firm’s fifty day moving average is $34.08 and its 200 day moving average is $34.24. The company has a market cap of $38.46 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 3.55 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last announced its 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. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.42 billion. During the same period in the prior year, the company earned $0.72 EPS. The business’s revenue was down 2.8% compared to the same quarter last year. Sell-side analysts forecast that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

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

About Kraft Heinz

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.