Beech Hill Advisors Inc. Lowers Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Beech Hill Advisors Inc. lowered its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,398 shares of the company’s stock after selling 801 shares during the period. Beech Hill Advisors Inc.’s holdings in Kraft Heinz were worth $2,612,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in KHC. Wellington Management Group LLP lifted its holdings in Kraft Heinz by 5.3% during the fourth quarter. Wellington Management Group LLP now owns 680,122 shares of the company’s stock worth $25,151,000 after buying an additional 34,389 shares during the period. HighPoint Advisor Group LLC purchased a new position in Kraft Heinz in the fourth quarter valued at about $766,000. Mather Group LLC. purchased a new position in Kraft Heinz in the first quarter valued at about $115,000. Massmutual Trust Co. FSB ADV lifted its position in shares of Kraft Heinz by 13.2% during the first quarter. Massmutual Trust Co. FSB ADV now owns 2,423 shares of the company’s stock valued at $89,000 after buying an additional 282 shares during the last quarter. Finally, Alaska Permanent Fund Corp bought a new stake in shares of Kraft Heinz in the 1st quarter valued at about $628,000. 78.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on KHC. The Goldman Sachs Group began coverage on shares of Kraft Heinz in a research note on Monday, August 12th. They set a “sell” rating and a $34.00 price objective for the company. Citigroup decreased their price objective on Kraft Heinz from $41.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Piper Sandler dropped their target price on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, June 20th. Bank of America decreased their price target 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. 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 note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Kraft Heinz has a consensus rating of “Hold” and an average price target of $37.55.

Kraft Heinz Trading Up 0.3 %

Kraft Heinz stock opened at $35.81 on Thursday. The Kraft Heinz Company has a 52 week low of $31.08 and a 52 week high of $38.96. The stock has a 50-day moving average price of $35.17 and a 200 day moving average price of $34.98. 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 company has a market capitalization of $43.48 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 3.39 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.73 by $0.05. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The business had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same period in the prior year, the firm earned $0.79 EPS. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. Sell-side analysts anticipate that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.47%. Kraft Heinz’s payout ratio is currently 69.87%.

Insider Activity

In related news, insider Cory Onell sold 4,076 shares of Kraft Heinz 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 transaction, the insider now directly owns 143,970 shares in the company, valued at approximately $5,182,920. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.32% of the company’s stock.

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.