The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. decreased its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 1.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 56,271 shares of the company’s stock after selling 1,033 shares during the quarter. Moors & Cabot Inc.’s holdings in Kraft Heinz were worth $1,813,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of KHC. Steward Partners Investment Solutions LLC acquired a new position in shares of Kraft Heinz during the fourth quarter valued at $25,000. New Covenant Trust Company N.A. acquired a new stake in Kraft Heinz in the first quarter worth about $27,000. Asset Dedication LLC lifted its holdings in Kraft Heinz by 94.8% in the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after purchasing an additional 476 shares during the period. Hantz Financial Services Inc. acquired a new stake in Kraft Heinz in the second quarter worth about $34,000. Finally, Valley Wealth Managers Inc. lifted its holdings in Kraft Heinz by 46.4% in the second quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock worth $35,000 after purchasing an additional 340 shares during the period. Institutional investors and hedge funds own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

KHC has been the subject of several research analyst reports. Bank of America reduced their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Piper Sandler reduced their price objective on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, June 20th. Barclays upped their price objective on shares of Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reduced 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, JPMorgan Chase & Co. cut their price target on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $37.50.

Insiders Place Their Bets

In other news, insider Cory Onell sold 4,076 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $36.00, for a total value of $146,736.00. Following the transaction, the insider now owns 143,970 shares in the company, valued at approximately $5,182,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Kraft Heinz Price Performance

NASDAQ KHC opened at $35.04 on Wednesday. The stock’s 50-day moving average price is $34.62 and its two-hundred day moving average price is $35.05. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39. The company has a market cap of $42.55 billion, a PE ratio of 15.30, a PEG ratio of 3.43 and a beta of 0.49. The Kraft Heinz Company has a 1 year low of $30.68 and a 1 year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.05. The firm had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.79 EPS. On average, analysts predict that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders 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 annualized dividend and a yield of 4.57%. Kraft Heinz’s payout ratio is presently 69.87%.

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.