PNC Financial Services Group Inc. Has $7.06 Million Position in The Kraft Heinz Company (NASDAQ:KHC)

PNC Financial Services Group Inc. boosted its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 7.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 200,937 shares of the company’s stock after acquiring an additional 13,452 shares during the period. PNC Financial Services Group Inc.’s holdings in Kraft Heinz were worth $7,055,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. MADDEN SECURITIES Corp lifted its position in Kraft Heinz by 2.4% in the 3rd quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock valued at $448,000 after acquiring an additional 303 shares in the last quarter. HB Wealth Management LLC boosted its position in shares of Kraft Heinz by 2.5% during the second quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock valued at $419,000 after buying an additional 314 shares during the last quarter. Axiom Advisory LLC grew its holdings in Kraft Heinz by 5.2% during the third quarter. Axiom Advisory LLC now owns 6,594 shares of the company’s stock worth $227,000 after buying an additional 327 shares in the last quarter. Norden Group LLC raised its position in Kraft Heinz by 3.8% in the 2nd quarter. Norden Group LLC now owns 9,321 shares of the company’s stock valued at $300,000 after buying an additional 339 shares during the last quarter. Finally, Valley Wealth Managers Inc. lifted its stake in Kraft Heinz by 46.4% during the 2nd quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock valued at $35,000 after acquiring an additional 340 shares in the last quarter. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Trading Up 2.3 %

Shares of Kraft Heinz stock opened at $31.81 on Friday. 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 market capitalization of $38.46 billion, a P/E ratio of 28.66, a P/E/G 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 stock’s 50-day simple moving average is $34.08 and its 200 day simple moving average is $34.26.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly 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. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 earnings per share. As a group, research analysts anticipate that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Announces Dividend

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 issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date is Friday, November 29th. Kraft Heinz’s payout ratio is currently 144.14%.

Insider Activity at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. The trade was a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on KHC shares. JPMorgan Chase & Co. lowered their target price on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Citigroup dropped their target price 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. Barclays reduced their target price on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Wells Fargo & Company lifted their price target on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, Mizuho reduced their price objective on 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 analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $36.55.

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.