Empowered Funds LLC Sells 199,684 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Empowered Funds LLC lessened its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 70.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 83,321 shares of the company’s stock after selling 199,684 shares during the period. Empowered Funds LLC’s holdings in Kraft Heinz were worth $2,925,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Fortitude Family Office LLC raised its position in Kraft Heinz by 249.5% in the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after acquiring an additional 529 shares during the period. New Covenant Trust Company N.A. bought a new position in Kraft Heinz in the 1st quarter worth $27,000. Ashton Thomas Securities LLC purchased a new position in Kraft Heinz during the third quarter valued at $27,000. DiNuzzo Private Wealth Inc. grew its holdings in Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after purchasing an additional 797 shares during the period. Finally, Asset Dedication LLC increased its position in Kraft Heinz by 94.8% in the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after buying an additional 476 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Price Performance

Shares of Kraft Heinz stock opened at $30.58 on Wednesday. The firm has a market cap of $36.98 billion, a PE ratio of 27.55, a PEG ratio of 3.56 and a beta of 0.49. The stock has a 50 day moving average of $34.33 and a 200 day moving average of $34.34. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The Kraft Heinz Company has a 12 month low of $30.40 and a 12 month high of $38.96.

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

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.23%. Kraft Heinz’s dividend payout ratio (DPR) is presently 144.14%.

Insider Activity at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the sale, the executive vice president now owns 168,195 shares in the company, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.37% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft downgraded 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 research note on Thursday, October 31st. Barclays dropped their price target on shares of 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. Mizuho lowered their target price on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Piper Sandler reissued a “neutral” rating and set a $35.00 price target (down from $40.00) on shares of Kraft Heinz in a report on Tuesday. Finally, JPMorgan Chase & Co. dropped their price objective on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $36.55.

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.