Massmutual Trust Co. FSB ADV Buys 578 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Massmutual Trust Co. FSB ADV raised its stake in The Kraft Heinz Company (NASDAQ:KHC) by 19.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,502 shares of the company’s stock after buying an additional 578 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Kraft Heinz were worth $123,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Kraft Heinz by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 70,398,831 shares of the company’s stock worth $2,603,349,000 after buying an additional 183,234 shares during the last quarter. LSV Asset Management lifted its holdings in shares of Kraft Heinz by 2.1% in the 2nd quarter. LSV Asset Management now owns 9,107,688 shares of the company’s stock worth $293,450,000 after acquiring an additional 189,000 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Kraft Heinz by 9.7% in the 2nd quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock worth $292,061,000 after acquiring an additional 799,581 shares during the last quarter. Capital World Investors boosted its stake in shares of Kraft Heinz by 83.4% in the 1st quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock valued at $321,388,000 after purchasing an additional 3,961,872 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Kraft Heinz by 47.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock valued at $178,379,000 after purchasing an additional 1,778,263 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

KHC has been the topic of several recent research reports. The Goldman Sachs Group assumed coverage on Kraft Heinz in a research report on Monday, August 12th. They set a “sell” rating and a $34.00 price target on the stock. Barclays raised their target price on shares of Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Bank of America lowered their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Piper Sandler dropped their price target on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, June 20th. Finally, Citigroup decreased 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 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Kraft Heinz presently has a consensus rating of “Hold” and an average price target of $37.45.

Kraft Heinz Price Performance

Shares of NASDAQ KHC opened at $34.59 on Friday. The company has a 50 day simple moving average of $35.12 and a two-hundred day simple moving average of $35.04. The Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week high of $38.96. The company has a market capitalization of $42.00 billion, a price-to-earnings ratio of 15.10, a P/E/G ratio of 3.39 and a beta of 0.49. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.53 and a current ratio of 1.01.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, July 31st. The company reported $0.78 EPS 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 analysts’ expectations of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The company’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 earnings per share. Analysts expect that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.60 annualized dividend and a yield of 4.63%. Kraft Heinz’s dividend payout ratio is 69.87%.

Insiders Place Their Bets

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $36.00, for a total value of $146,736.00. Following the completion of the transaction, the insider now owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Kraft Heinz 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.