Truvestments Capital LLC Grows Position in The Kraft Heinz Company (NASDAQ:KHC)

Truvestments Capital LLC boosted its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 19.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,446 shares of the company’s stock after acquiring an additional 13,528 shares during the period. Truvestments Capital LLC’s holdings in Kraft Heinz were worth $2,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. MADDEN SECURITIES Corp boosted its stake in shares of Kraft Heinz by 2.4% during the third quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock valued at $448,000 after purchasing an additional 303 shares in the last quarter. HB Wealth Management LLC boosted its position in Kraft Heinz by 2.5% during the 2nd quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock valued at $419,000 after acquiring an additional 314 shares in the last quarter. Axiom Advisory LLC raised its position in shares of Kraft Heinz by 5.2% in the 3rd quarter. Axiom Advisory LLC now owns 6,594 shares of the company’s stock worth $227,000 after acquiring an additional 327 shares in the last quarter. Norden Group LLC raised its position in shares of Kraft Heinz by 3.8% in the 2nd quarter. Norden Group LLC now owns 9,321 shares of the company’s stock worth $300,000 after acquiring an additional 339 shares in the last quarter. Finally, Valley Wealth Managers Inc. lifted its stake in shares of Kraft Heinz by 46.4% during the 2nd quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock worth $35,000 after purchasing an additional 340 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Insider Buying and Selling at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 168,195 shares of the company’s stock, valued at $5,626,122.75. This trade represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.37% of the company’s stock.

Kraft Heinz Price Performance

Shares of KHC opened at $31.93 on Monday. 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 company’s fifty day moving average price is $34.08 and its 200-day moving average price is $34.24. The Kraft Heinz Company has a 1-year low of $30.40 and a 1-year high of $38.96. The firm has a market capitalization of $38.61 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 3.63 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $6.42 billion. During the same quarter in the previous year, the business earned $0.72 EPS. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities research analysts predict that The Kraft Heinz Company will post 3.01 EPS for the current 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 given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date is Friday, November 29th. Kraft Heinz’s dividend payout ratio is presently 144.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on KHC shares. Barclays reduced 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 report on Friday, November 1st. JPMorgan Chase & Co. reduced their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Piper Sandler reissued a “neutral” rating and set a $35.00 target price (down previously from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. The Goldman Sachs Group cut their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a report on Thursday, October 31st. Finally, Mizuho decreased their price objective on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. One 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. Based on data from MarketBeat.com, Kraft Heinz has an average rating of “Hold” and an average target price of $36.55.

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.