Arete Wealth Advisors LLC Cuts Stake in The Kraft Heinz Company (NASDAQ:KHC)

Arete Wealth Advisors LLC trimmed its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 16.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 6,015 shares of the company’s stock after selling 1,187 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Kraft Heinz were worth $211,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. LSV Asset Management increased its stake in Kraft Heinz by 2.1% in the 2nd quarter. LSV Asset Management now owns 9,107,688 shares of the company’s stock worth $293,450,000 after purchasing an additional 189,000 shares during the period. Legal & General Group Plc raised its holdings in Kraft Heinz by 9.7% during the 2nd quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock valued at $292,061,000 after buying an additional 799,581 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Kraft Heinz by 47.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock valued at $178,379,000 after buying an additional 1,778,263 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Kraft Heinz by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company’s stock valued at $186,350,000 after buying an additional 545,504 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Kraft Heinz by 14.2% in the second 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 during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Trading Up 0.4 %

Shares of KHC stock opened at $31.69 on Friday. The stock has a market capitalization of $38.32 billion, a P/E ratio of 28.55, a P/E/G ratio of 3.57 and a beta of 0.48. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The firm’s 50 day moving average is $33.09 and its 200 day moving average is $33.80. The Kraft Heinz Company has a 12-month low of $30.40 and a 12-month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, topping 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 company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.42 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. Kraft Heinz’s revenue was down 2.8% compared to the same quarter last year. Research analysts expect that The Kraft Heinz Company will post 3.01 earnings per share for the current year.

Kraft Heinz Dividend Announcement

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. This represents a $1.60 annualized dividend and a dividend yield of 5.05%. The ex-dividend date is Friday, November 29th. Kraft Heinz’s dividend payout ratio (DPR) is presently 144.14%.

Insider Buying and Selling at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of Kraft Heinz stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the transaction, the executive vice president now directly owns 168,195 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on KHC shares. Citigroup dropped their target price on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Stifel Nicolaus lowered Kraft Heinz from a “buy” rating to a “hold” rating and cut their price objective for the stock from $40.00 to $38.00 in a research report on Friday, October 25th. Barclays decreased 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. Piper Sandler reiterated a “neutral” rating and issued a $35.00 price target (down previously from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Finally, Mizuho decreased their price objective on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock 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.