Prime Capital Investment Advisors LLC Sells 1,108 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Prime Capital Investment Advisors LLC lowered its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 8.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,877 shares of the company’s stock after selling 1,108 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Kraft Heinz were worth $417,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. LSV Asset Management increased its holdings in shares of Kraft Heinz by 2.1% during the second quarter. LSV Asset Management now owns 9,107,688 shares of the company’s stock valued at $293,450,000 after acquiring an additional 189,000 shares in the last quarter. Legal & General Group Plc raised its holdings in Kraft Heinz by 9.7% in the second quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock worth $292,061,000 after buying an additional 799,581 shares during the last quarter. Capital World Investors grew its holdings in shares of Kraft Heinz by 83.4% during the first quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock valued at $321,388,000 after buying an additional 3,961,872 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Kraft Heinz by 47.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock worth $178,379,000 after acquiring an additional 1,778,263 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in Kraft Heinz by 14.2% in the 2nd quarter. AQR Capital Management LLC now owns 4,063,076 shares of the company’s stock valued at $130,912,000 after acquiring an additional 505,180 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft cut Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price objective for the company from $39.00 to $35.00 in a research report on Thursday, October 31st. Evercore ISI lowered their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Wells Fargo & Company boosted their target price on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. lowered their target price on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group cut their price target on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $37.00.

Kraft Heinz Price Performance

Shares of KHC stock opened at $31.14 on Friday. The company has a market cap of $37.65 billion, a P/E ratio of 28.05, a PEG ratio of 3.67 and a beta of 0.49. The stock’s 50-day moving average is $34.53 and its 200 day moving average is $34.46. The Kraft Heinz Company has a 1-year low of $30.40 and a 1-year high of $38.96. 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 issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $6.42 billion. During the same quarter in the prior year, the business posted $0.72 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. Research analysts predict that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be paid 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 5.14%. Kraft Heinz’s payout ratio is currently 144.14%.

Insider Buying and Selling at Kraft Heinz

In other news, EVP Pedro F. P. Navio sold 45,000 shares of Kraft Heinz stock in a transaction dated 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 in the company, valued at $5,626,122.75. This trade represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.32% of the stock is owned by corporate insiders.

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.