Freedom Investment Management Inc. Cuts Position in The Kraft Heinz Company (NASDAQ:KHC)

Freedom Investment Management Inc. lowered its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 6.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,631 shares of the company’s stock after selling 514 shares during the quarter. Freedom Investment Management Inc.’s holdings in Kraft Heinz were worth $268,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of KHC. Goodman Financial Corp grew its position in shares of Kraft Heinz by 1.8% in the third quarter. Goodman Financial Corp now owns 381,724 shares of the company’s stock valued at $13,402,000 after purchasing an additional 6,814 shares during the period. Avestar Capital LLC boosted its holdings in Kraft Heinz by 12.3% in the 3rd quarter. Avestar Capital LLC now owns 15,485 shares of the company’s stock worth $544,000 after buying an additional 1,700 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Kraft Heinz during the 3rd quarter worth approximately $81,000. D.A. Davidson & CO. raised its holdings in shares of Kraft Heinz by 3.2% during the third quarter. D.A. Davidson & CO. now owns 98,510 shares of the company’s stock valued at $3,459,000 after acquiring an additional 3,054 shares during the last quarter. Finally, West Tower Group LLC purchased a new position in shares of Kraft Heinz in the third quarter valued at approximately $263,000. 78.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on KHC. The Goldman Sachs Group dropped their price target on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research report on Thursday, October 31st. Piper Sandler reiterated a “neutral” rating and issued a $35.00 target price (down from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. Mizuho decreased their price target on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Citigroup dropped their price objective on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, Stifel Nicolaus lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their target price for the stock from $40.00 to $38.00 in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Kraft Heinz has a consensus rating of “Hold” and an average target price of $36.55.

Kraft Heinz Stock Up 0.1 %

Shares of NASDAQ KHC opened at $31.97 on Monday. The Kraft Heinz Company has a 1 year low of $30.40 and a 1 year high of $38.96. The company has a market capitalization of $38.66 billion, a P/E ratio of 28.80, a P/E/G ratio of 3.65 and a beta of 0.49. The company has a 50 day simple moving average of $33.77 and a 200-day simple moving average of $34.10. 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 posted 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 for the quarter, compared to the consensus estimate of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 earnings per share. On average, equities research analysts predict that The Kraft Heinz Company will post 3.01 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 5.00%. 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 other 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 value of $1,505,250.00. Following the completion of 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.32% of the company’s stock.

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.