Cadence Bank Reduces Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Cadence Bank lessened its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 91.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,159 shares of the company’s stock after selling 100,910 shares during the period. Cadence Bank’s holdings in Kraft Heinz were worth $322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Kraft Heinz by 47.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock valued at $178,379,000 after buying an additional 1,778,263 shares during the period. Thompson Siegel & Walmsley LLC lifted its holdings in Kraft Heinz by 387.7% in the third quarter. Thompson Siegel & Walmsley LLC now owns 1,455,033 shares of the company’s stock valued at $51,086,000 after acquiring an additional 1,156,712 shares during the period. Marshall Wace LLP lifted its holdings in Kraft Heinz by 260.8% in the second quarter. Marshall Wace LLP now owns 1,169,657 shares of the company’s stock valued at $37,686,000 after acquiring an additional 845,490 shares during the period. Poplar Forest Capital LLC acquired a new stake in shares of Kraft Heinz during the 2nd quarter worth approximately $26,353,000. Finally, Legal & General Group Plc increased its holdings in shares of Kraft Heinz by 9.7% during the 2nd quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock valued at $292,061,000 after purchasing an additional 799,581 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on KHC shares. Barclays lowered their price target on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft cut Kraft Heinz from a “buy” rating to a “hold” rating and dropped their target price for the company from $39.00 to $35.00 in a research report on Thursday, October 31st. The Goldman Sachs Group lowered their price target on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a research report on Thursday, October 31st. Citigroup reduced their target price on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, 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 report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Kraft Heinz presently has an average rating of “Hold” and an average target price of $36.55.

Kraft Heinz Stock Performance

KHC opened at $31.93 on Thursday. The Kraft Heinz Company has a twelve month low of $30.40 and a twelve month high of $38.96. The firm has a market capitalization of $38.61 billion, a PE ratio of 28.77, a PEG ratio of 3.66 and a beta of 0.49. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The firm’s 50-day moving average price is $33.89 and its 200 day moving average price is $34.17.

Kraft Heinz (NASDAQ:KHC) last issued its 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 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 analysts’ expectations of $6.42 billion. During the same period in the previous year, the firm posted $0.72 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, sell-side analysts expect that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date is Friday, November 29th. Kraft Heinz’s dividend payout ratio (DPR) is presently 144.14%.

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 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 transaction, the executive vice president now directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.37% of the company’s stock.

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.