Barrett & Company Inc. Reduces Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Barrett & Company Inc. decreased its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 11.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,400 shares of the company’s stock after selling 304 shares during the quarter. Barrett & Company Inc.’s holdings in Kraft Heinz were worth $84,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

KHC has been the topic of a number of recent analyst reports. The Goldman Sachs Group began coverage on shares of Kraft Heinz in a research report on Monday, August 12th. They issued a “sell” rating and a $34.00 target price on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Evercore ISI lowered their target price on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Bank of America decreased their price target on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Finally, Citigroup dropped their target price on shares of Kraft Heinz from $41.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $37.58.

Insider Transactions at Kraft Heinz

In other 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 completion of the transaction, the insider now directly owns 143,970 shares in the company, valued at approximately $5,182,920. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.32% of the company’s stock.

Kraft Heinz Trading Up 0.9 %

NASDAQ KHC traded up $0.30 during mid-day trading on Monday, hitting $35.04. The company’s stock had a trading volume of 1,708,240 shares, compared to its average volume of 7,718,009. The Kraft Heinz Company has a 52-week low of $31.08 and a 52-week high of $38.96. The stock’s fifty day simple moving average is $35.29 and its two-hundred day simple moving average is $34.88. The firm has a market capitalization of $42.37 billion, a P/E ratio of 22.27, a price-to-earnings-growth ratio of 3.48 and a beta of 0.49. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53.

Kraft Heinz (NASDAQ:KHC) last released its quarterly 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 return on equity of 7.38% and a net margin of 7.30%. The firm had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter in the prior year, the business earned $0.79 EPS. Kraft Heinz’s quarterly revenue was down 3.3% compared to the same quarter last year. Research analysts expect that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date of this dividend was Friday, August 30th. Kraft Heinz’s payout ratio is 102.56%.

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.