Everence Capital Management Inc. Sells 12,210 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Everence Capital Management Inc. trimmed its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 46.5% in the 4th quarter, Holdings Channel reports. The firm owned 14,020 shares of the company’s stock after selling 12,210 shares during the period. Everence Capital Management Inc.’s holdings in Kraft Heinz were worth $431,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew its stake 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 purchasing an additional 529 shares during the period. Ashton Thomas Securities LLC bought a new stake in Kraft Heinz during the third quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. increased 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 buying an additional 797 shares during the last quarter. Asset Dedication LLC boosted its stake in shares of Kraft Heinz by 94.8% during the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after acquiring an additional 476 shares during the last quarter. Finally, Bangor Savings Bank bought a new stake in shares of Kraft Heinz during the 3rd quarter valued at $32,000. Institutional investors own 78.17% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on KHC. Piper Sandler reiterated a “neutral” rating and set a $35.00 target price (down from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. 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. The Goldman Sachs Group lowered their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a report on Thursday, October 31st. Mizuho decreased their price objective on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Finally, Stifel Nicolaus downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and dropped their target price for the stock from $40.00 to $38.00 in a report on Friday, October 25th. One research 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. According to MarketBeat, Kraft Heinz currently has a consensus rating of “Hold” and an average target price of $36.55.

Insider Buying and Selling at Kraft Heinz

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction 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 owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.32% of the company’s stock.

Kraft Heinz Stock Performance

NASDAQ KHC opened at $30.61 on Monday. The stock has a market capitalization of $37.01 billion, a PE ratio of 27.58, a P/E/G ratio of 3.62 and a beta of 0.48. The Kraft Heinz Company has a 1-year low of $30.01 and a 1-year high of $38.96. The business has a 50 day simple moving average of $31.69 and a two-hundred day simple moving average of $33.45. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $6.42 billion. During the same quarter in the prior year, the firm earned $0.72 earnings per share. Kraft Heinz’s revenue was down 2.8% on a year-over-year basis. On average, research analysts predict that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, November 29th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 5.23%. Kraft Heinz’s payout ratio is currently 144.14%.

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.