Trust Point Inc. Lowers Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Trust Point Inc. cut its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 12.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,469 shares of the company’s stock after selling 897 shares during the quarter. Trust Point Inc.’s holdings in Kraft Heinz were worth $227,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in KHC. LSV Asset Management lifted its stake in Kraft Heinz by 2.1% in the 2nd quarter. LSV Asset Management now owns 9,107,688 shares of the company’s stock valued at $293,450,000 after buying an additional 189,000 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Kraft Heinz by 9.7% during the second quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock valued at $292,061,000 after acquiring an additional 799,581 shares during the last quarter. Capital World Investors lifted its position in shares of Kraft Heinz by 83.4% in the first quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock valued at $321,388,000 after acquiring an additional 3,961,872 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Kraft Heinz by 47.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock worth $178,379,000 after acquiring an additional 1,778,263 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Kraft Heinz by 14.2% during the second quarter. AQR Capital Management LLC now owns 4,063,076 shares of the company’s stock worth $130,912,000 after purchasing an additional 505,180 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Cory Onell sold 4,076 shares of the stock in a transaction that occurred on 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on KHC. The Goldman Sachs Group started 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. Evercore ISI decreased their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Wells Fargo & Company upped their price objective on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Bank of America lowered their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $37.55.

Kraft Heinz Trading Up 0.1 %

KHC opened at $36.00 on Friday. The business’s 50 day moving average price is $35.20 and its 200 day moving average price is $34.96. 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 stock has a market capitalization of $43.71 billion, a PE ratio of 15.72, a P/E/G ratio of 3.39 and a beta of 0.49. The Kraft Heinz Company has a one year low of $31.08 and a one year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.73 by $0.05. The business had revenue of $6.50 billion for 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 quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.79 EPS. As a group, equities research analysts expect that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend was Friday, August 30th. Kraft Heinz’s dividend payout ratio is presently 69.87%.

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.