The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by SouthState Corp

SouthState Corp cut its stake in shares of The Kraft Heinz Company (NASDAQ:KHC – Get Rating) by 6.5% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 4,182 shares of the company’s stock after selling 290 shares during the period. SouthState Corp’s holdings in Kraft Heinz were worth $165,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KHC. Sandy Cove Advisors LLC purchased a new stake in Kraft Heinz during the 1st quarter worth approximately $25,000. AlphaMark Advisors LLC increased its holdings in Kraft Heinz by 521.7% during the 4th quarter. AlphaMark Advisors LLC now owns 715 shares of the company’s stock worth $26,000 after purchasing an additional 600 shares during the last quarter. Larson Financial Group LLC increased its holdings in Kraft Heinz by 383.7% during the 4th quarter. Larson Financial Group LLC now owns 803 shares of the company’s stock worth $29,000 after purchasing an additional 637 shares during the last quarter. Focused Wealth Management Inc increased its holdings in Kraft Heinz by 100.5% during the 1st quarter. Focused Wealth Management Inc now owns 772 shares of the company’s stock worth $30,000 after purchasing an additional 387 shares during the last quarter. Finally, Rather & Kittrell Inc. purchased a new stake in Kraft Heinz during the 4th quarter worth approximately $33,000. 63.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KHC has been the topic of several analyst reports. The Goldman Sachs Group restated an “upgrade” rating on shares of Kraft Heinz in a report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft reduced their price objective on Kraft Heinz from $48.00 to $47.00 in a research report on Monday, July 18th. UBS Group lowered Kraft Heinz from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $40.00 to $34.00 in a research report on Thursday, May 26th. Mizuho initiated coverage on Kraft Heinz in a research report on Monday, July 18th. They set a “buy” rating and a $48.00 price target for the company. Finally, BMO Capital Markets upgraded Kraft Heinz from a “market perform” rating to an “outperform” rating and set a $46.00 price target for the company in a research report on Wednesday, June 22nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $40.30.

Insider Transactions at Kraft Heinz

In other news, CEO Miguel Patricio sold 259,958 shares of the business’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $44.28, for a total transaction of $11,510,940.24. Following the sale, the chief executive officer now directly owns 1,897,433 shares of the company’s stock, valued at $84,018,333.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Marcos Eloi Lima sold 28,855 shares of the company’s stock in a transaction on Friday, June 10th. The stock was sold at an average price of $36.97, for a total transaction of $1,066,769.35. Following the transaction, the executive vice president now directly owns 193,938 shares of the company’s stock, valued at $7,169,887.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Miguel Patricio sold 259,958 shares of the company’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $44.28, for a total value of $11,510,940.24. Following the transaction, the chief executive officer now directly owns 1,897,433 shares in the company, valued at $84,018,333.24. The disclosure for this sale can be found here. Insiders have sold 308,594 shares of company stock valued at $13,299,438 over the last three months. Company insiders own 1.40% of the company’s stock.

Kraft Heinz Trading Down 0.8 %

Shares of Kraft Heinz stock opened at $37.03 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.89 and a debt-to-equity ratio of 0.40. The firm has a market cap of $45.38 billion, a price-to-earnings ratio of 30.35, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73. The business has a fifty day simple moving average of $37.57 and a 200-day simple moving average of $38.72. The Kraft Heinz Company has a fifty-two week low of $32.78 and a fifty-two week high of $44.87.

Kraft Heinz (NASDAQ:KHC – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. The business had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.36 billion. Kraft Heinz had a return on equity of 6.82% and a net margin of 5.92%. The company’s revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.78 earnings per share. On average, equities analysts forecast that The Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, August 26th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date is Thursday, August 25th. Kraft Heinz’s dividend payout ratio (DPR) is presently 131.15%.

Kraft Heinz Profile

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The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.