The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC cut its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 5.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 94,267 shares of the company’s stock after selling 5,160 shares during the quarter. Highland Capital Management LLC’s holdings in Kraft Heinz were worth $3,310,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. New Covenant Trust Company N.A. acquired a new position in Kraft Heinz in the 1st quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. increased its stake 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 worth $31,000 after acquiring an additional 797 shares during the period. Asset Dedication LLC raised its holdings in shares of 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 purchasing an additional 476 shares during the last quarter. Bangor Savings Bank purchased a new stake in Kraft Heinz in the third quarter valued at $32,000. Finally, Hantz Financial Services Inc. acquired a new stake in Kraft Heinz during the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Insiders Place Their Bets

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 value of $146,736.00. Following the completion of the sale, the insider now owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Evercore ISI lowered their target price on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Citigroup dropped their price objective on shares of Kraft Heinz from $41.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. The Goldman Sachs Group initiated coverage on shares of Kraft Heinz in a report on Monday, August 12th. They set a “sell” rating and a $34.00 price target on the stock. Barclays lifted their price objective on shares of Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. 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, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Kraft Heinz currently has an average rating of “Hold” and a consensus price target of $37.58.

Kraft Heinz Stock Performance

NASDAQ KHC opened at $34.74 on Friday. 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 stock’s 50 day simple moving average is $35.29 and its 200-day simple moving average is $34.90. The company has a market cap of $42.00 billion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 3.48 and a beta of 0.49. The Kraft Heinz Company has a 1-year low of $31.08 and a 1-year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $6.55 billion. During the same quarter last year, the firm posted $0.79 EPS. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. As a group, equities research analysts anticipate that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were issued a $0.40 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a yield of 4.61%. Kraft Heinz’s payout ratio is 102.56%.

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.