The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by SouthState Corp

SouthState Corp lessened its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 76.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 982 shares of the company’s stock after selling 3,200 shares during the period. SouthState Corp’s holdings in Kraft Heinz were worth $32,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in KHC. TCW Group Inc. purchased a new stake in shares of Kraft Heinz during the fourth quarter worth approximately $1,098,000. Shell Asset Management Co. lifted its stake in shares of Kraft Heinz by 251.3% in the fourth quarter. Shell Asset Management Co. now owns 33,829 shares of the company’s stock worth $1,251,000 after buying an additional 24,199 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Kraft Heinz by 120.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 137,353 shares of the company’s stock worth $5,079,000 after acquiring an additional 75,149 shares during the last quarter. Bridgewater Associates LP grew its stake in Kraft Heinz by 7.7% during the 4th quarter. Bridgewater Associates LP now owns 1,661,700 shares of the company’s stock valued at $61,450,000 after acquiring an additional 118,260 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in Kraft Heinz by 13.2% in the 1st quarter. Lazard Asset Management LLC now owns 2,006,917 shares of the company’s stock valued at $74,053,000 after acquiring an additional 234,783 shares during the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Kraft Heinz Trading Down 0.8 %

NASDAQ KHC opened at $35.84 on Friday. The firm’s fifty day moving average price is $34.14 and its 200 day moving average price is $35.07. The company has a market capitalization of $43.52 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 3.32 and a beta of 0.53. The Kraft Heinz Company has a 12 month low of $30.68 and a 12 month high of $38.96. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53.

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

Kraft Heinz Announces Dividend

The company also recently disclosed 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 is currently 69.87%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on KHC shares. Evercore ISI dropped their price target on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Citigroup cut their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Bank of America reduced their price target on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Piper Sandler dropped their price objective on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, June 20th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note 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 stock. Based on data from MarketBeat.com, Kraft Heinz currently has a consensus rating of “Hold” and a consensus target price of $37.31.

Insider Transactions at Kraft Heinz

In related news, insider Cory Onell sold 4,076 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $36.00, for a total value of $146,736.00. Following the completion of the sale, the insider now owns 143,970 shares in the company, valued at $5,182,920. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company 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.