National Bank of Canada FI Sells 135,455 Shares of The Kraft Heinz Company (NASDAQ:KHC)

National Bank of Canada FI decreased its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 14.6% during the second quarter, Holdings Channel.com reports. The fund owned 789,231 shares of the company’s stock after selling 135,455 shares during the quarter. National Bank of Canada FI’s holdings in Kraft Heinz were worth $25,119,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KHC. Wealthcare Advisory Partners LLC purchased a new stake in Kraft Heinz during the 4th quarter valued at approximately $239,000. Apollon Wealth Management LLC grew its holdings in Kraft Heinz by 87.8% during the 4th quarter. Apollon Wealth Management LLC now owns 22,222 shares of the company’s stock valued at $822,000 after buying an additional 10,389 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Kraft Heinz by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,577,285 shares of the company’s stock valued at $169,268,000 after buying an additional 137,169 shares in the last quarter. Cullen Frost Bankers Inc. grew its holdings in Kraft Heinz by 27.5% during the 4th quarter. Cullen Frost Bankers Inc. now owns 11,860 shares of the company’s stock valued at $439,000 after buying an additional 2,558 shares in the last quarter. Finally, Principal Securities Inc. purchased a new position in shares of Kraft Heinz in the fourth quarter valued at $110,000. Institutional investors own 78.17% of the company’s stock.

Insider Buying and Selling at Kraft Heinz

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of Kraft Heinz 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 transaction, the insider now owns 143,970 shares in the company, valued at $5,182,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on KHC. Bank of America cut their target price 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. Citigroup cut their target price 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 17th. Wells Fargo & Company raised their target price on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Piper Sandler lowered their price target on 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, JPMorgan Chase & Co. lowered their price target on 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 research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $37.31.

Kraft Heinz Stock Performance

KHC stock opened at $35.84 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53. The business has a 50-day moving average price of $34.14 and a 200 day moving average price of $35.07. The company has a market capitalization of $43.52 billion, a P/E ratio of 15.65, a PEG ratio of 3.32 and a beta of 0.53. The Kraft Heinz Company has a 1-year low of $30.68 and a 1-year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.05. The firm had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 earnings per share. As a group, equities research analysts forecast that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a $0.40 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.60 annualized dividend and a yield of 4.46%. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

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.