Hourglass Capital LLC Buys 3,450 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Hourglass Capital LLC lifted its stake in The Kraft Heinz Company (NASDAQ:KHC) by 2.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 152,550 shares of the company’s stock after acquiring an additional 3,450 shares during the quarter. Hourglass Capital LLC’s holdings in Kraft Heinz were worth $5,356,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. ICICI Prudential Asset Management Co Ltd grew its stake in shares of Kraft Heinz by 18.3% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 15,783 shares of the company’s stock worth $554,000 after acquiring an additional 2,444 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of Kraft Heinz by 9.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 204,200 shares of the company’s stock worth $7,169,000 after acquiring an additional 17,969 shares during the period. Pinnacle Financial Partners Inc grew its stake in shares of Kraft Heinz by 4.2% in the third quarter. Pinnacle Financial Partners Inc now owns 9,560 shares of the company’s stock worth $336,000 after acquiring an additional 381 shares during the period. MQS Management LLC bought a new stake in shares of Kraft Heinz in the third quarter worth approximately $420,000. Finally, Community Bank & Trust Waco Texas grew its stake in shares of Kraft Heinz by 20.3% in the third quarter. Community Bank & Trust Waco Texas now owns 62,635 shares of the company’s stock worth $2,199,000 after acquiring an additional 10,590 shares during the period. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Price Performance

Shares of NASDAQ:KHC opened at $32.13 on Thursday. 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 $31.58 and a 1-year high of $38.96. The company has a market capitalization of $38.85 billion, a P/E ratio of 28.95, a P/E/G ratio of 3.65 and a beta of 0.49. The firm’s 50 day simple moving average is $34.79 and its two-hundred day simple moving average is $34.55.

Kraft Heinz (NASDAQ:KHC) last issued 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 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 quarter in the previous year, the firm earned $0.72 earnings per share. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. Research analysts expect that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.98%. Kraft Heinz’s dividend payout ratio is 144.14%.

Insider Buying and Selling

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the company’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 in the company, valued at approximately $5,626,122.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on KHC. Barclays reduced their price target on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Mizuho dropped their price objective on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Evercore ISI dropped their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Stifel Nicolaus downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $40.00 to $38.00 in a report on Friday, October 25th. Finally, Citigroup dropped their price objective on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Kraft Heinz currently has a consensus rating of “Hold” and a consensus target price of $37.25.

Kraft Heinz Company 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.