OLD National Bancorp IN Decreases Position in The Kraft Heinz Company (NASDAQ:KHC)

OLD National Bancorp IN reduced its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,863 shares of the company’s stock after selling 435 shares during the period. OLD National Bancorp IN’s holdings in Kraft Heinz were worth $627,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. New Covenant Trust Company N.A. acquired a new position in Kraft Heinz in the 1st quarter valued at $27,000. DiNuzzo Private Wealth Inc. raised its position in shares of Kraft Heinz by 1,077.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after buying an additional 797 shares during the last quarter. Bangor Savings Bank purchased a new position in shares of Kraft Heinz in the third quarter worth about $32,000. Asset Dedication LLC boosted its position in Kraft Heinz by 94.8% during the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after acquiring an additional 476 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Kraft Heinz by 221.5% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,016 shares of the company’s stock valued at $36,000 after acquiring an additional 700 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Insider Activity at Kraft Heinz

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the business’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 transaction of $146,736.00. Following the completion of the transaction, the insider now owns 143,970 shares in the company, valued at $5,182,920. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on KHC shares. Deutsche Bank Aktiengesellschaft dropped their target price on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. The Goldman Sachs Group began coverage on Kraft Heinz in a report on Monday, August 12th. They issued a “sell” rating and a $34.00 price objective on the stock. Barclays lifted their target price on Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. cut their price objective 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. Finally, Wells Fargo & Company increased their target price on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $37.55.

Kraft Heinz Price Performance

Shares of KHC opened at $35.49 on Tuesday. The company has a market cap of $43.10 billion, a P/E ratio of 15.50, a PEG ratio of 3.39 and a beta of 0.49. The Kraft Heinz Company has a fifty-two week low of $31.08 and a fifty-two week high of $38.96. The company has a quick ratio of 0.53, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. The firm’s 50 day moving average price is $35.23 and its 200 day moving average price is $34.93.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data 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 business 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 earnings per share. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. On average, research analysts forecast that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors 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 dividend on an annualized basis and a dividend yield of 4.51%. Kraft Heinz’s payout ratio is 69.87%.

About Kraft Heinz

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.