Everence Capital Management Inc. Acquires 10,450 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Everence Capital Management Inc. boosted its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 66.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,230 shares of the company’s stock after acquiring an additional 10,450 shares during the quarter. Everence Capital Management Inc.’s holdings in Kraft Heinz were worth $921,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. MADDEN SECURITIES Corp increased its stake in shares of Kraft Heinz by 2.4% in the 3rd quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock worth $448,000 after purchasing an additional 303 shares in the last quarter. HB Wealth Management LLC increased its stake in Kraft Heinz by 2.5% in the 2nd quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock worth $419,000 after buying an additional 314 shares in the last quarter. Axiom Advisory LLC increased its stake in 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 buying an additional 327 shares in the last quarter. Lorne Steinberg Wealth Management Inc. increased its stake in Kraft Heinz by 0.3% in the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 109,600 shares of the company’s stock worth $4,044,000 after buying an additional 335 shares in the last quarter. Finally, Norden Group LLC increased its stake in 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 buying an additional 339 shares in the last quarter. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Price Performance

Shares of KHC stock traded down $0.10 on Monday, reaching $35.90. 3,999,180 shares of the company were exchanged, compared to its average volume of 7,733,113. The company has a market cap of $43.59 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 3.39 and a beta of 0.49. The business has a 50-day moving average price of $35.20 and a 200 day moving average price of $34.95. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.53 and a current ratio of 1.01. The Kraft Heinz Company has a 1 year low of $31.08 and a 1 year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. The firm had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. Kraft Heinz’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.79 earnings per share. Equities research analysts forecast that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were given a dividend of $0.40 per share. The ex-dividend date was Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a yield of 4.46%. Kraft Heinz’s payout ratio is presently 69.87%.

Analyst Upgrades and Downgrades

KHC has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Bank of America reduced their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. The Goldman Sachs Group assumed coverage on shares of Kraft Heinz in a research report on Monday, August 12th. They set a “sell” rating and a $34.00 target price on the stock. Citigroup reduced their target price on shares of Kraft Heinz from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Finally, Barclays lifted their price objective on shares of Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $37.55.

Insider Buying and Selling

In related news, insider Cory Onell sold 4,076 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the transaction, the insider now directly owns 143,970 shares in the company, valued at approximately $5,182,920. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.32% of the stock is currently owned by company 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.