Townsquare Capital LLC Cuts Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Townsquare Capital LLC trimmed its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 16.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,084 shares of the company’s stock after selling 5,311 shares during the period. Townsquare Capital LLC’s holdings in Kraft Heinz were worth $951,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC lifted its holdings in shares of Kraft Heinz by 249.5% in the 3rd 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 last quarter. Ashton Thomas Securities LLC bought a new stake in Kraft Heinz in the third quarter worth $27,000. DiNuzzo Private Wealth Inc. boosted its position 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 period. Bangor Savings Bank bought a new position in shares of Kraft Heinz during the third quarter valued at about $32,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Kraft Heinz in the third quarter worth about $33,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on KHC shares. Mizuho dropped their target price on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. The Goldman Sachs Group dropped their target price on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a report on Thursday, October 31st. Piper Sandler restated a “neutral” rating and set a $35.00 target price (down from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Stifel Nicolaus cut Kraft Heinz from a “buy” rating to a “hold” rating and dropped their target price for the company from $40.00 to $38.00 in a report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft cut Kraft Heinz from a “buy” rating to a “hold” rating and dropped their target price for the company from $39.00 to $35.00 in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $36.55.

Insiders Place Their Bets

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was 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 directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.32% of the company’s stock.

Kraft Heinz Stock Performance

Kraft Heinz stock opened at $31.61 on Tuesday. The Kraft Heinz Company has a fifty-two week low of $30.40 and a fifty-two week high of $38.96. The stock’s 50 day simple moving average is $33.77 and its two-hundred day simple moving average is $34.10. 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 cap of $38.22 billion, a price-to-earnings ratio of 28.48, a PEG ratio of 3.65 and a beta of 0.49.

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

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 5.06%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz’s payout ratio is currently 144.14%.

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.