Wellington Management Group LLP Increases Stake in The Kraft Heinz Company (NASDAQ:KHC)

Wellington Management Group LLP grew its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 276.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 126,653 shares of the company’s stock after purchasing an additional 93,046 shares during the period. Wellington Management Group LLP’s holdings in Kraft Heinz were worth $4,447,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in KHC. Charles Schwab Investment Management Inc. grew its stake in Kraft Heinz by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company’s stock valued at $186,350,000 after acquiring an additional 545,504 shares in the last quarter. Clifford Capital Partners LLC grew its position in Kraft Heinz by 21.4% during the second quarter. Clifford Capital Partners LLC now owns 454,884 shares of the company’s stock worth $14,656,000 after buying an additional 80,101 shares in the last quarter. Banque Cantonale Vaudoise raised its holdings in shares of Kraft Heinz by 52.5% in the 3rd quarter. Banque Cantonale Vaudoise now owns 170,511 shares of the company’s stock valued at $5,988,000 after acquiring an additional 58,665 shares in the last quarter. Easterly Investment Partners LLC lifted its holdings in shares of Kraft Heinz by 39.4% during the 3rd quarter. Easterly Investment Partners LLC now owns 157,479 shares of the company’s stock worth $5,529,000 after acquiring an additional 44,485 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its position in Kraft Heinz by 1,760.8% during the third quarter. Los Angeles Capital Management LLC now owns 655,312 shares of the company’s stock valued at $23,008,000 after acquiring an additional 620,096 shares during the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KHC has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and reduced their target price for the company from $39.00 to $35.00 in a report on Thursday, October 31st. Mizuho dropped their price target on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Barclays decreased their price objective on shares of 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 target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research report on Thursday, October 31st. Finally, Citigroup reduced their price target on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research note 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 company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $36.55.

Kraft Heinz Stock Down 2.3 %

Shares of Kraft Heinz stock opened at $30.97 on Tuesday. The company has a market cap of $37.45 billion, a price-to-earnings ratio of 27.90, a price-to-earnings-growth ratio of 3.57 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. The company’s 50 day moving average is $33.02 and its 200 day moving average is $33.76. The Kraft Heinz Company has a twelve month low of $30.40 and a twelve month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $6.42 billion. During the same quarter in the prior year, the company earned $0.72 earnings per share. Kraft Heinz’s revenue was down 2.8% on a year-over-year basis. Research analysts anticipate that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Dividend Announcement

The business 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 5.17%. The ex-dividend date is Friday, November 29th. Kraft Heinz’s dividend payout ratio (DPR) is currently 144.14%.

Insiders Place Their Bets

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 168,195 shares in the company, valued at $5,626,122.75. The trade was a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.32% of the stock is owned by company insiders.

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.