First Horizon Advisors Inc. Has $16.30 Million Stake in The Kraft Heinz Company (NASDAQ:KHC)

First Horizon Advisors Inc. grew its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 8.6% during the third quarter, HoldingsChannel.com reports. The firm owned 464,351 shares of the company’s stock after acquiring an additional 36,877 shares during the quarter. First Horizon Advisors Inc.’s holdings in Kraft Heinz were worth $16,303,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Capital World Investors grew its position in Kraft Heinz by 83.4% during the first quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock worth $321,388,000 after buying an additional 3,961,872 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Kraft Heinz by 47.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock worth $178,379,000 after purchasing an additional 1,778,263 shares in the last quarter. Marshall Wace LLP increased its position in shares of Kraft Heinz by 260.8% in the second quarter. Marshall Wace LLP now owns 1,169,657 shares of the company’s stock worth $37,686,000 after purchasing an additional 845,490 shares during the period. Poplar Forest Capital LLC acquired a new position in Kraft Heinz in the second quarter valued at about $26,353,000. Finally, Legal & General Group Plc lifted its position in Kraft Heinz by 9.7% during the second quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock worth $292,061,000 after purchasing an additional 799,581 shares during the period. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Price Performance

Shares of KHC opened at $30.58 on Wednesday. The company has a market capitalization of $36.98 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 3.56 and a beta of 0.49. The business has a 50-day moving average of $34.33 and a 200-day moving average of $34.34. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. The Kraft Heinz Company has a 1 year low of $30.40 and a 1 year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 EPS. As a group, equities research analysts anticipate that The Kraft Heinz Company will post 3.01 earnings per share for the current 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 paid a $0.40 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 5.23%. Kraft Heinz’s dividend payout ratio is presently 144.14%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on KHC. Barclays dropped their target price on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft cut Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price target for the stock from $39.00 to $35.00 in a report on Thursday, October 31st. Piper Sandler restated a “neutral” rating and set a $35.00 price objective (down from $40.00) on shares of Kraft Heinz in a research report on Tuesday. Evercore ISI decreased their target price on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Finally, Citigroup dropped 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $36.55.

Insider Transactions at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s 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 sale, the executive vice president now owns 168,195 shares in the company, valued at $5,626,122.75. This represents a 21.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.37% of the stock is owned by 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.