The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Wedmont Private Capital

Wedmont Private Capital reduced its stake in The Kraft Heinz Company (NASDAQ:KHC) by 9.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,710 shares of the company’s stock after selling 2,645 shares during the period. Wedmont Private Capital’s holdings in Kraft Heinz were worth $924,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Clifford Capital Partners LLC grew its stake in Kraft Heinz by 21.4% during the 2nd quarter. Clifford Capital Partners LLC now owns 454,884 shares of the company’s stock worth $14,656,000 after buying an additional 80,101 shares during the last quarter. Lazard Asset Management LLC grew its stake in Kraft Heinz by 13.2% during the 1st quarter. Lazard Asset Management LLC now owns 2,006,917 shares of the company’s stock worth $74,053,000 after buying an additional 234,783 shares during the last quarter. Smith Thornton Advisors LLC bought a new position in Kraft Heinz during the 2nd quarter worth $654,000. GLOBALT Investments LLC GA bought a new position in Kraft Heinz during the 4th quarter worth $7,743,000. Finally, MBB Public Markets I LLC bought a new position in Kraft Heinz during the 2nd quarter worth $2,001,000. 78.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

KHC has been the subject of a number of recent research reports. Evercore ISI lowered their price objective 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. Bank of America lowered their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. The Goldman Sachs Group began coverage on Kraft Heinz in a research report on Monday, August 12th. They set a “sell” rating and a $34.00 price target for the company. Wells Fargo & Company boosted their price target on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Finally, Barclays boosted their price target 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $37.55.

Kraft Heinz Trading Up 0.5 %

Shares of Kraft Heinz stock opened at $34.83 on Friday. 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 has a market cap of $42.29 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 3.39 and a beta of 0.49. The business has a fifty day simple moving average of $35.15 and a 200-day simple moving average of $35.02. The Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week 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 the consensus estimate of $0.73 by $0.05. The business had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The company’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.79 earnings per share. On average, equities analysts forecast that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.60 annualized dividend and a dividend yield of 4.59%. Kraft Heinz’s dividend payout ratio (DPR) is 69.87%.

Insider Activity

In other news, insider Cory Onell sold 4,076 shares of the business’s stock in a transaction 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 sale, the insider now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.32% of the company’s stock.

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.