Caisse DE Depot ET Placement DU Quebec Boosts Stake in The Kraft Heinz Company (NASDAQ:KHC)

Caisse DE Depot ET Placement DU Quebec increased its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 62.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 641,668 shares of the company’s stock after purchasing an additional 247,328 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Kraft Heinz were worth $22,529,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. White Knight Strategic Wealth Advisors LLC grew its position in shares of Kraft Heinz by 30.3% during the 3rd quarter. White Knight Strategic Wealth Advisors LLC now owns 15,236 shares of the company’s stock valued at $535,000 after acquiring an additional 3,539 shares during the period. BlueCrest Capital Management Ltd purchased a new position in Kraft Heinz during the third quarter worth approximately $246,000. Vinva Investment Management Ltd increased its position in shares of Kraft Heinz by 192.6% in the third quarter. Vinva Investment Management Ltd now owns 39,803 shares of the company’s stock valued at $1,408,000 after buying an additional 26,198 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of Kraft Heinz by 138.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 34,751 shares of the company’s stock valued at $1,220,000 after buying an additional 20,200 shares in the last quarter. Finally, FORA Capital LLC purchased a new stake in Kraft Heinz in the 3rd quarter worth $405,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KHC has been the topic of several recent analyst reports. Stifel Nicolaus downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price objective for the company from $40.00 to $38.00 in a report on Friday, October 25th. Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 price target (down from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. 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 report 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 for the company in a research note on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their target price for the stock from $39.00 to $35.00 in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $36.55.

Insider Activity

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the transaction, the executive vice president now owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.32% of the company’s stock.

Kraft Heinz Stock Up 1.4 %

KHC stock opened at $31.97 on Monday. The firm has a market cap of $38.66 billion, a PE ratio of 28.80, a PEG ratio of 3.65 and a beta of 0.49. The Kraft Heinz Company has a one year low of $30.40 and a one year high of $38.96. 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’s 50 day moving average price is $33.77 and its 200-day moving average price is $34.10.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.74 by $0.01. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.72 EPS. On average, equities research analysts anticipate that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 5.00%. 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.