D.A. Davidson & CO. Sells 6,198 Shares of The Kraft Heinz Company (NASDAQ:KHC)

D.A. Davidson & CO. lowered its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 8.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,290 shares of the company’s stock after selling 6,198 shares during the quarter. D.A. Davidson & CO.’s holdings in Kraft Heinz were worth $2,488,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in KHC. Invesco Ltd. lifted its holdings in shares of Kraft Heinz by 10.7% in the third quarter. Invesco Ltd. now owns 24,601,098 shares of the company’s stock worth $827,581,000 after buying an additional 2,369,080 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Kraft Heinz by 86.0% in the third quarter. AQR Capital Management LLC now owns 4,627,569 shares of the company’s stock worth $155,671,000 after buying an additional 2,140,153 shares in the last quarter. Nordea Investment Management AB raised its stake in Kraft Heinz by 3,167.3% during the third quarter. Nordea Investment Management AB now owns 1,869,778 shares of the company’s stock valued at $63,198,000 after purchasing an additional 1,812,551 shares in the last quarter. Morgan Stanley raised its stake in Kraft Heinz by 7.2% during the third quarter. Morgan Stanley now owns 12,580,726 shares of the company’s stock valued at $423,216,000 after purchasing an additional 850,326 shares in the last quarter. Finally, FMR LLC raised its stake in Kraft Heinz by 37.9% during the third quarter. FMR LLC now owns 3,029,052 shares of the company’s stock valued at $101,897,000 after purchasing an additional 832,653 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Citigroup initiated coverage on shares of Kraft Heinz in a research report on Thursday, February 1st. They set a “buy” rating and a $43.00 price objective on the stock. Piper Sandler raised shares of Kraft Heinz from a “neutral” rating to an “overweight” rating and set a $42.00 price objective for the company in a research report on Wednesday. Bank of America increased their price target on shares of Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Wells Fargo & Company cut their target price on shares of Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a report on Thursday, February 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.08.

Insider Buying and Selling

In related news, insider Lande Rashida La sold 10,140 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $35.95, for a total value of $364,533.00. Following the completion of the transaction, the insider now directly owns 158,266 shares of the company’s stock, valued at $5,689,662.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.32% of the company’s stock.

Kraft Heinz Trading Up 0.1 %

NASDAQ KHC traded up $0.05 during trading hours on Friday, reaching $35.85. The company had a trading volume of 5,700,622 shares, compared to its average volume of 7,366,014. The company has a current ratio of 1.09, a quick ratio of 0.61 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $43.53 billion, a P/E ratio of 15.66, a price-to-earnings-growth ratio of 2.87 and a beta of 0.65. The stock has a 50-day moving average of $36.64 and a 200 day moving average of $36.18. 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 released its earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The firm had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.43 billion. During the same period in the prior year, the firm earned $0.68 earnings per share. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, research analysts anticipate that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 6th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, June 6th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.46%. Kraft Heinz’s payout ratio is 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.