The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division trimmed its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 21.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,325 shares of the company’s stock after selling 1,200 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Kraft Heinz were worth $133,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew its holdings in shares of Kraft Heinz by 249.5% during the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after buying an additional 529 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Kraft Heinz during the 3rd quarter valued at about $27,000. DiNuzzo Private Wealth Inc. lifted its stake in Kraft Heinz by 1,077.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after purchasing an additional 797 shares in the last quarter. Asset Dedication LLC boosted its holdings 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 purchasing an additional 476 shares during the last quarter. Finally, Bangor Savings Bank purchased a new stake in shares of Kraft Heinz in the third quarter valued at approximately $32,000. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Stock Down 0.5 %

NASDAQ:KHC opened at $30.61 on Friday. The Kraft Heinz Company has a 52 week low of $30.01 and a 52 week high of $38.96. The stock’s fifty day moving average is $31.69 and its two-hundred day moving average is $33.44. The stock has a market capitalization of $37.01 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 3.62 and a beta of 0.48. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. The company had revenue of $6.38 billion during 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%. Kraft Heinz’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period last year, the business posted $0.72 EPS. Research analysts anticipate that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Announces Dividend

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

Insiders Place Their Bets

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 168,195 shares in the company, valued at $5,626,122.75. This represents a 21.11 % decrease in their position. 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 company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on KHC. Barclays reduced their price objective on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, November 1st. The Goldman Sachs Group dropped their price objective on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a report on Thursday, October 31st. Citigroup reduced their target price on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Piper Sandler reissued a “neutral” rating and issued a $35.00 price target (down previously from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price target for the company from $39.00 to $35.00 in a research 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, Kraft Heinz has a consensus rating of “Hold” and a consensus price target of $36.55.

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.