Brown Lisle Cummings Inc. Acquires 4,427 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Brown Lisle Cummings Inc. grew its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 25.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,058 shares of the company’s stock after purchasing an additional 4,427 shares during the period. Brown Lisle Cummings Inc.’s holdings in Kraft Heinz were worth $774,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in Kraft Heinz by 109.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,114,970 shares of the company’s stock valued at $39,147,000 after buying an additional 582,219 shares during the period. DMC Group LLC raised its stake in shares of Kraft Heinz by 3.2% in the third quarter. DMC Group LLC now owns 25,732 shares of the company’s stock worth $903,000 after buying an additional 806 shares during the period. Blue Trust Inc. lifted its position in shares of Kraft Heinz by 157.8% during the 3rd quarter. Blue Trust Inc. now owns 9,395 shares of the company’s stock valued at $303,000 after buying an additional 5,750 shares in the last quarter. Aaron Wealth Advisors LLC bought a new position in shares of Kraft Heinz during the 3rd quarter valued at approximately $357,000. Finally, Stonegate Investment Group LLC increased its holdings in Kraft Heinz by 183.3% in the 3rd quarter. Stonegate Investment Group LLC now owns 26,502 shares of the company’s stock worth $930,000 after acquiring an additional 17,146 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Analyst Ratings Changes

KHC has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Citigroup reduced their price target on shares of Kraft Heinz from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Barclays increased their price objective on shares of Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft cut their target price on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Bank of America lowered their price target on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Kraft Heinz currently has a consensus rating of “Hold” and an average price target of $37.55.

Kraft Heinz Price Performance

Shares of KHC stock opened at $36.00 on Monday. The company has a market capitalization of $43.71 billion, a P/E ratio of 15.72, a P/E/G ratio of 3.39 and a beta of 0.49. The company’s 50-day simple moving average is $35.20 and its two-hundred day simple moving average is $34.95. The Kraft Heinz Company has a one year low of $31.08 and a one year high of $38.96. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.05. The company had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. Kraft Heinz’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.79 earnings per share. As a group, equities analysts anticipate that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date was Friday, August 30th. Kraft Heinz’s dividend payout ratio (DPR) is 69.87%.

Insider Activity

In other news, insider Cory Onell sold 4,076 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the transaction, the insider now directly owns 143,970 shares in the company, valued at approximately $5,182,920. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.32% of the company’s stock.

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.