The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 25.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,181,913 shares of the company’s stock after selling 407,725 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Kraft Heinz were worth $38,081,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of KHC. Steward Partners Investment Solutions LLC acquired a new position in Kraft Heinz during the 4th quarter worth approximately $25,000. New Covenant Trust Company N.A. purchased a new position in shares of Kraft Heinz in the 1st quarter worth $27,000. Asset Dedication LLC raised its stake in shares of Kraft Heinz by 94.8% in the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after acquiring an additional 476 shares during the period. Hantz Financial Services Inc. acquired a new stake in Kraft Heinz during the 2nd quarter valued at $34,000. Finally, Valley Wealth Managers Inc. boosted its stake in shares of Kraft Heinz by 46.4% during the 2nd quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock valued at $35,000 after buying an additional 340 shares during the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KHC has been the topic of a number of analyst reports. Bank of America dropped their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Barclays boosted their target price on Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Citigroup reduced their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Piper Sandler dropped their price target on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, June 20th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $37.50.

Kraft Heinz Price Performance

NASDAQ:KHC opened at $34.99 on Friday. The Kraft Heinz Company has a 52 week low of $30.68 and a 52 week high of $38.96. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.53 and a current ratio of 1.01. The company has a 50-day moving average of $34.74 and a 200-day moving average of $35.05. The company has a market capitalization of $42.49 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 3.43 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, beating 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 firm had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.55 billion. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 earnings per share. As a group, equities research analysts anticipate that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.57%. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

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 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 transaction, the insider now directly owns 143,970 shares of the company’s stock, valued at $5,182,920. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by company insiders.

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.