Econ Financial Services Corp trimmed its position in shares of The Kraft Heinz Company (NASDAQ:KHC – Get Rating) by 19.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,885 shares of the company's stock after selling 6,954 shares during the period. Econ Financial Services Corp's holdings in Kraft Heinz were worth $1,102,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sandy Cove Advisors LLC acquired a new stake in shares of Kraft Heinz in the 1st quarter valued at $25,000. Focused Wealth Management Inc raised its position in shares of Kraft Heinz by 100.5% during the first quarter. Focused Wealth Management Inc now owns 772 shares of the company's stock valued at $30,000 after buying an additional 387 shares during the last quarter. Rather & Kittrell Inc. bought a new stake in Kraft Heinz in the fourth quarter valued at about $33,000. Field & Main Bank bought a new stake in Kraft Heinz in the second quarter valued at about $34,000. Finally, Howe & Rusling Inc. increased its stake in Kraft Heinz by 234.6% in the first quarter. Howe & Rusling Inc. now owns 967 shares of the company's stock valued at $38,000 after acquiring an additional 678 shares during the period. 67.03% of the stock is currently owned by hedge funds and other institutional investors.
Get Kraft Heinz alerts:Insider Transactions at Kraft Heinz
In related news, CAO Lande Rashida La sold 3,500 shares of the firm's stock in a transaction on Friday, July 29th. The shares were sold at an average price of $36.56, for a total value of $127,960.00. Following the completion of the transaction, the chief accounting officer now owns 266,627 shares of the company's stock, valued at $9,747,883.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Vince Garlati sold 19,938 shares of the firm's stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $38.43, for a total transaction of $766,217.34. Following the completion of the sale, the vice president now owns 94,843 shares in the company, valued at approximately $3,644,816.49. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Lande Rashida La sold 3,500 shares of the firm's stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $36.56, for a total transaction of $127,960.00. Following the sale, the chief accounting officer now owns 266,627 shares of the company's stock, valued at approximately $9,747,883.12. The disclosure for this sale can be found here. Insiders sold 53,438 shares of company stock valued at $2,044,977 over the last quarter. Corporate insiders own 1.40% of the company's stock.
Kraft Heinz Trading Down 1.6 %
KHC traded down $0.56 during mid-day trading on Tuesday, hitting $33.50. The stock had a trading volume of 122,086 shares, compared to its average volume of 8,767,517. The stock's fifty day simple moving average is $37.17 and its 200-day simple moving average is $38.69. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.89 and a quick ratio of 0.52. The firm has a market capitalization of $41.05 billion, a price-to-earnings ratio of 27.92, a price-to-earnings-growth ratio of 2.55 and a beta of 0.70. The Kraft Heinz Company has a 1-year low of $32.78 and a 1-year high of $44.87.Kraft Heinz (NASDAQ:KHC – Get Rating) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.03. Kraft Heinz had a net margin of 5.92% and a return on equity of 6.82%. The company had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.36 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. The firm's revenue was down .9% compared to the same quarter last year. As a group, research analysts forecast that The Kraft Heinz Company will post 2.66 EPS for the current fiscal year.
Kraft Heinz Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, August 26th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend was Thursday, August 25th. Kraft Heinz's dividend payout ratio is 131.15%.
Wall Street Analyst Weigh In
Several analysts have weighed in on the stock. TheStreet cut shares of Kraft Heinz from a "b" rating to a "c+" rating in a research note on Monday, September 19th. Stifel Nicolaus raised shares of Kraft Heinz from a "hold" rating to a "buy" rating and set a $43.00 price objective on the stock in a research note on Thursday, July 28th. They noted that the move was a valuation call. BMO Capital Markets raised shares of Kraft Heinz from a "market perform" rating to an "outperform" rating and set a $46.00 price objective on the stock in a research note on Wednesday, June 22nd. The Goldman Sachs Group reaffirmed an "upgrade" rating on shares of Kraft Heinz in a research note on Thursday, July 28th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Kraft Heinz from $48.00 to $47.00 in a research note on Monday, July 18th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $40.44.
Kraft Heinz Company Profile
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The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.
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