The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. cut its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 29.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,769 shares of the company’s stock after selling 2,428 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Kraft Heinz were worth $203,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Northwest Investment Counselors LLC bought a new stake in shares of Kraft Heinz in the third quarter worth $101,000. Everence Capital Management Inc. increased its position in shares of Kraft Heinz by 66.2% in the 3rd quarter. Everence Capital Management Inc. now owns 26,230 shares of the company’s stock worth $921,000 after purchasing an additional 10,450 shares during the last quarter. Brown Lisle Cummings Inc. raised its stake in shares of Kraft Heinz by 25.1% in the 3rd quarter. Brown Lisle Cummings Inc. now owns 22,058 shares of the company’s stock valued at $774,000 after purchasing an additional 4,427 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Kraft Heinz by 109.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,114,970 shares of the company’s stock worth $39,147,000 after purchasing an additional 582,219 shares in the last quarter. Finally, DMC Group LLC grew its stake in Kraft Heinz by 3.2% in the third quarter. DMC Group LLC now owns 25,732 shares of the company’s stock worth $903,000 after purchasing an additional 806 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Cory Onell sold 4,076 shares of the business’s 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 sale, the insider now 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 the SEC website. 0.32% of the stock is owned by insiders.

Kraft Heinz Stock Performance

KHC opened at $35.50 on Thursday. The Kraft Heinz Company has a twelve month low of $31.08 and a twelve month high of $38.96. The stock has a market cap of $43.11 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 3.39 and a beta of 0.49. The business’s 50 day moving average is $35.27 and its 200-day moving average is $34.93. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results 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. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The firm had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter in the previous year, the business earned $0.79 EPS. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, analysts predict that The Kraft Heinz Company will post 3.02 earnings per share 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. The ex-dividend date was Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.51%. Kraft Heinz’s dividend payout ratio (DPR) is 69.87%.

Analyst Upgrades and Downgrades

KHC has been the topic of a number of research analyst reports. Evercore ISI reduced their target price on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft decreased 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. JPMorgan Chase & Co. reduced their price target on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Barclays boosted their price objective on shares of Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group initiated coverage on shares of Kraft Heinz in a report on Monday, August 12th. They issued a “sell” rating and a $34.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Kraft Heinz presently has a consensus rating of “Hold” and a consensus target price of $37.55.

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.