11,714,730 Shares in The Kraft Heinz Company (NASDAQ:KHC) Purchased by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of The Kraft Heinz Company (NASDAQ:KHC) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 11,714,730 shares of the company’s stock, valued at approximately $411,304,000. Kraft Heinz comprises 1.4% of Hotchkis & Wiley Capital Management LLC’s portfolio, making the stock its 26th largest position.

Several other institutional investors also recently bought and sold shares of the stock. Fortitude Family Office LLC raised its holdings 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 purchasing an additional 529 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Kraft Heinz during the 3rd quarter valued at about $27,000. DiNuzzo Private Wealth Inc. grew its holdings in shares of Kraft Heinz by 1,077.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after acquiring an additional 797 shares during the period. Asset Dedication LLC increased its holdings in Kraft Heinz by 94.8% during the second 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 last quarter. Finally, Bangor Savings Bank purchased a new position in Kraft Heinz during the third quarter valued at $32,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KHC has been the subject of a number of analyst reports. Piper Sandler reissued a “neutral” rating and issued a $35.00 price objective (down from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. Citigroup cut 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. Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price objective for the company from $39.00 to $35.00 in a research report on Thursday, October 31st. Stifel Nicolaus lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and lowered their target price for the stock from $40.00 to $38.00 in a report on Friday, October 25th. Finally, Mizuho cut their price objective on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $36.55.

Insiders Place Their Bets

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total value of $1,505,250.00. Following the completion of the transaction, the executive vice president now directly owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.37% of the stock is currently owned by corporate insiders.

Kraft Heinz Stock Down 1.1 %

KHC stock opened at $31.61 on Tuesday. 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 Kraft Heinz Company has a 12 month low of $30.40 and a 12 month high of $38.96. The firm has a 50-day moving average of $33.77 and a two-hundred day moving average of $34.10. The company has a market cap of $38.22 billion, a price-to-earnings ratio of 28.48, a PEG ratio of 3.65 and a beta of 0.48.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results 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 business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.42 billion. During the same period last year, the business posted $0.72 earnings per share. The company’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, analysts forecast that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date is Friday, November 29th. Kraft Heinz’s dividend payout ratio (DPR) is currently 144.14%.

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.