Sunbelt Securities Inc. Decreases Stake in The Kraft Heinz Company (NASDAQ:KHC)

Sunbelt Securities Inc. trimmed its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 27.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,529 shares of the company’s stock after selling 969 shares during the quarter. Sunbelt Securities Inc.’s holdings in Kraft Heinz were worth $81,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Capital World Investors raised its position 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. Dimensional Fund Advisors LP increased its stake in shares of Kraft Heinz by 47.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock worth $178,379,000 after buying an additional 1,778,263 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Kraft Heinz by 346.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,520,006 shares of the company’s stock valued at $57,799,000 after acquiring an additional 1,179,863 shares in the last quarter. Nordea Investment Management AB boosted its stake in Kraft Heinz by 56.7% during the 1st quarter. Nordea Investment Management AB now owns 2,840,148 shares of the company’s stock valued at $104,929,000 after acquiring an additional 1,027,636 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in Kraft Heinz by 260.8% during the 2nd quarter. Marshall Wace LLP now owns 1,169,657 shares of the company’s stock worth $37,686,000 after acquiring an additional 845,490 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Insider Activity at Kraft Heinz

In other news, insider Cory Onell sold 4,076 shares of the company’s stock in a transaction that occurred on 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 directly owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Piper Sandler reduced their price target on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, June 20th. Citigroup lowered their price target on 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 price objective on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Bank of America lowered their target price on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Finally, Evercore ISI reduced their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Kraft Heinz has a consensus rating of “Hold” and a consensus target price of $37.45.

Kraft Heinz Price Performance

NASDAQ KHC opened at $34.17 on Friday. The company has a 50-day moving average price of $35.10 and a two-hundred day moving average price of $35.05. The stock has a market cap of $41.49 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 3.39 and a beta of 0.49. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a 52 week low of $30.68 and a 52 week high of $38.96.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, July 31st. The company reported $0.78 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 period last year, the firm earned $0.79 EPS. The firm’s revenue was down 3.3% compared to the same quarter last year. Analysts forecast that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.68%. The ex-dividend date was Friday, August 30th. Kraft Heinz’s payout ratio is currently 69.87%.

Kraft Heinz Company 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.