Beck Bode LLC Trims Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Beck Bode LLC decreased its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 0.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 180,630 shares of the company’s stock after selling 387 shares during the period. Beck Bode LLC’s holdings in Kraft Heinz were worth $5,820,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Welch Group LLC raised its holdings in shares of Kraft Heinz by 1.9% in the 1st quarter. Welch Group LLC now owns 14,868 shares of the company’s stock valued at $549,000 after acquiring an additional 272 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in 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 purchasing an additional 282 shares during the last quarter. Integrated Advisors Network LLC grew its stake in Kraft Heinz by 2.4% in the 4th quarter. Integrated Advisors Network LLC now owns 12,881 shares of the company’s stock worth $476,000 after buying an additional 301 shares in the last quarter. HB Wealth Management LLC increased its holdings in shares of Kraft Heinz by 2.5% in the 2nd quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock worth $419,000 after buying an additional 314 shares during the last quarter. Finally, Lorne Steinberg Wealth Management Inc. raised its position in shares of Kraft Heinz by 0.3% during the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 109,600 shares of the company’s stock valued at $4,044,000 after buying an additional 335 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Trading Down 1.7 %

Shares of KHC opened at $35.04 on Wednesday. The stock has a market capitalization of $42.55 billion, a P/E ratio of 15.30, a PEG ratio of 3.43 and a beta of 0.49. The Kraft Heinz Company has a twelve month low of $30.68 and a twelve month high of $38.96. 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 fifty day simple moving average of $34.62 and a two-hundred day simple moving average of $35.05.

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

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.57%. Kraft Heinz’s dividend payout ratio is presently 69.87%.

Analyst Ratings Changes

KHC has been the topic of a number of research analyst reports. Barclays increased their target price on Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. reduced their price objective on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft dropped their target price on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Piper Sandler cut their target price on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, June 20th. Finally, Wells Fargo & Company lifted their price target 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 equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Kraft Heinz currently has a consensus rating of “Hold” and an average target price of $37.50.

Insider Buying and Selling

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.32% of the stock is currently owned by insiders.

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.