The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. trimmed its position in The Kraft Heinz Company (NASDAQ:KHC) by 7.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 95,056 shares of the company’s stock after selling 7,839 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Kraft Heinz were worth $3,337,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC grew its position in Kraft Heinz by 249.5% in the third 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 period. New Covenant Trust Company N.A. acquired a new position in shares of Kraft Heinz in the 1st quarter valued at $27,000. Ashton Thomas Securities LLC purchased a new position in shares of Kraft Heinz during the 3rd quarter worth $27,000. DiNuzzo Private Wealth Inc. increased its position in shares of Kraft Heinz by 1,077.0% during 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 during the last quarter. Finally, Asset Dedication LLC raised its holdings in Kraft Heinz by 94.8% in the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after buying an additional 476 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Insider Transactions at Kraft Heinz

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the completion of the sale, the executive vice president now owns 168,195 shares in the company, valued at approximately $5,626,122.75. The trade was a 21.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on KHC. Deutsche Bank Aktiengesellschaft cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price target for the company from $39.00 to $35.00 in a research report on Thursday, October 31st. Evercore ISI dropped their target price on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. lowered their price target on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Barclays cut their price objective on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. Finally, Stifel Nicolaus downgraded 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 research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $37.00.

Kraft Heinz Stock Performance

Shares of KHC opened at $31.14 on Friday. The Kraft Heinz Company has a 1 year low of $30.40 and a 1 year high of $38.96. The stock has a market capitalization of $37.65 billion, a PE ratio of 28.05, a PEG ratio of 3.67 and a beta of 0.49. 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 50-day simple moving average of $34.62 and a 200-day simple moving average of $34.52.

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

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz’s dividend payout ratio is presently 144.14%.

Kraft Heinz 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.