Clarius Group LLC Cuts Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Clarius Group LLC decreased its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 16.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,912 shares of the company’s stock after selling 1,408 shares during the period. Clarius Group LLC’s holdings in Kraft Heinz were worth $244,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. New Covenant Trust Company N.A. purchased a new stake in shares of Kraft Heinz during the first quarter worth about $27,000. Bangor Savings Bank acquired a new stake in Kraft Heinz in the 3rd quarter worth approximately $32,000. Asset Dedication LLC grew its position in 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 during the last quarter. Transcendent Capital Group LLC acquired a new position in Kraft Heinz during the 4th quarter valued at approximately $38,000. Finally, Hantz Financial Services Inc. purchased a new position in shares of Kraft Heinz in the second quarter worth $34,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 transaction of $146,736.00. Following the completion of the sale, the insider now owns 143,970 shares of the company’s stock, valued at $5,182,920. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is currently owned by company insiders.

Kraft Heinz Stock Up 1.1 %

KHC opened at $35.22 on Friday. The company has a fifty day moving average of $35.13 and a two-hundred day moving average of $35.01. The stock has a market capitalization of $42.77 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 3.39 and a beta of 0.49. 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 quick ratio of 0.53 and a current ratio of 1.01.

Kraft Heinz (NASDAQ:KHC) last released 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 return on equity of 7.38% and a net margin of 7.30%. The company had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter in the prior year, the firm posted $0.79 EPS. Kraft Heinz’s quarterly revenue was down 3.3% compared to the same quarter last year. On average, research analysts expect that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently declared 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 4.54%. The ex-dividend date was Friday, August 30th. Kraft Heinz’s payout ratio is presently 69.87%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on KHC. JPMorgan Chase & Co. dropped their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock 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. Piper Sandler decreased their target price on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, June 20th. Barclays increased their price target on shares of Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, Evercore ISI decreased their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Kraft Heinz presently has a consensus rating of “Hold” and an average target price of $37.55.

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.