Quest Partners LLC Has $180,000 Stake in The Kraft Heinz Company (NASDAQ:KHC)

Quest Partners LLC decreased its position in The Kraft Heinz Company (NASDAQ:KHC) by 34.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 5,588 shares of the company’s stock after selling 2,877 shares during the period. Quest Partners LLC’s holdings in Kraft Heinz were worth $180,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of KHC. Steward Partners Investment Solutions LLC acquired a new position in shares of Kraft Heinz in the 4th quarter worth approximately $25,000. New Covenant Trust Company N.A. bought a new stake in shares of Kraft Heinz in the 1st quarter worth about $27,000. Asset Dedication LLC increased its position in shares of Kraft Heinz by 94.8% during the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after purchasing an additional 476 shares in the last quarter. Hantz Financial Services Inc. bought a new position in Kraft Heinz during the 2nd quarter valued at about $34,000. Finally, Transcendent Capital Group LLC acquired a new position in Kraft Heinz in the fourth quarter valued at about $38,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KHC has been the subject of several research analyst reports. Bank of America cut their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Evercore ISI lowered their target price on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. cut their price target on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Finally, Piper Sandler dropped their price objective on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Kraft Heinz has a consensus rating of “Hold” and an average price target of $37.50.

Kraft Heinz Stock Up 1.1 %

Kraft Heinz stock opened at $35.59 on Monday. The Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week 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. The firm has a market capitalization of $43.03 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 3.43 and a beta of 0.49. The company’s 50 day simple moving average is $34.49 and its 200 day simple moving average is $35.04.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The company 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 posted $0.79 earnings per share. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a $0.40 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.60 annualized dividend and a dividend yield of 4.50%. Kraft Heinz’s dividend payout ratio (DPR) is currently 69.87%.

Insider Transactions at Kraft Heinz

In related news, insider Cory Onell sold 4,076 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $36.00, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.32% of the stock is currently owned by insiders.

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.