Community Bank & Trust Waco Texas Purchases 10,590 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Community Bank & Trust Waco Texas increased its position in The Kraft Heinz Company (NASDAQ:KHC) by 20.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 62,635 shares of the company’s stock after buying an additional 10,590 shares during the quarter. Community Bank & Trust Waco Texas’ holdings in Kraft Heinz were worth $2,199,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in KHC. Fortitude Family Office LLC boosted its holdings in Kraft Heinz by 249.5% during the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after acquiring an additional 529 shares during the period. New Covenant Trust Company N.A. purchased a new stake in shares of Kraft Heinz during the first quarter valued at approximately $27,000. Ashton Thomas Securities LLC bought a new position in shares of Kraft Heinz in the third quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. raised its holdings in Kraft Heinz by 1,077.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after buying an additional 797 shares during the last quarter. Finally, Asset Dedication LLC grew its holdings in Kraft Heinz by 94.8% in the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after acquiring an additional 476 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Stock Performance

Shares of KHC opened at $32.00 on Wednesday. The business has a fifty day moving average of $34.86 and a 200 day moving average of $34.59. The firm has a market capitalization of $38.69 billion, a P/E ratio of 28.83, a PEG ratio of 3.71 and a beta of 0.49. The Kraft Heinz Company has a one year low of $31.58 and a one year high of $38.96. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.42 billion. During the same period last year, the firm earned $0.72 earnings per share. The company’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, sell-side analysts anticipate that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Announces Dividend

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

Wall Street Analysts Forecast Growth

KHC has been the subject of a number of analyst reports. 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 report on Friday, November 1st. Piper Sandler decreased their target price on Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. JPMorgan Chase & Co. cut their price target on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $39.00 to $35.00 in a report on Thursday, October 31st. Finally, The Goldman Sachs Group decreased their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $37.25.

Insider Buying and Selling

In other Kraft Heinz 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 completion of the transaction, the executive vice president now directly owns 168,195 shares in the company, valued at $5,626,122.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.37% of the stock is currently 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.