BlueCrest Capital Management Ltd Takes Position in The Kraft Heinz Company (NASDAQ:KHC)

BlueCrest Capital Management Ltd bought a new stake in shares of The Kraft Heinz Company (NASDAQ:KHC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,000 shares of the company’s stock, valued at approximately $246,000.

Several other large investors have also added to or reduced their stakes in KHC. Fortitude Family Office LLC raised 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 valued at $26,000 after purchasing an additional 529 shares during the period. Ashton Thomas Securities LLC bought a new stake in Kraft Heinz in the 3rd quarter valued at about $27,000. DiNuzzo Private Wealth Inc. raised its stake in 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 buying an additional 797 shares during the period. Asset Dedication LLC boosted its holdings in Kraft Heinz by 94.8% in the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after acquiring an additional 476 shares in the last quarter. Finally, Bangor Savings Bank bought a new position in Kraft Heinz in the third quarter worth approximately $32,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on KHC. Citigroup decreased their price objective on 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 lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price target for the company from $39.00 to $35.00 in a research note on Thursday, October 31st. Mizuho dropped their price objective 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. The Goldman Sachs Group decreased 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, Piper Sandler restated a “neutral” rating and issued a $35.00 target price (down previously from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. One 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 MarketBeat, the company has an average rating of “Hold” and an average target price of $36.55.

Kraft Heinz Trading Up 0.1 %

NASDAQ:KHC opened at $31.97 on Friday. The Kraft Heinz Company has a 52 week low of $30.40 and a 52 week high of $38.96. The firm has a 50-day moving average price of $33.77 and a two-hundred day moving average price of $34.13. 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 firm has a market cap of $38.66 billion, a price-to-earnings ratio of 28.80, a price-to-earnings-growth ratio of 3.65 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly 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. 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 during the quarter, compared to the consensus estimate of $6.42 billion. During the same period last year, the business posted $0.72 earnings per share. Kraft Heinz’s revenue was down 2.8% on a year-over-year basis. On average, equities analysts expect that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 5.00%. Kraft Heinz’s payout ratio is currently 144.14%.

Insider Buying and Selling

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 168,195 shares in the company, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is currently owned by corporate insiders.

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.