Mn Services Vermogensbeheer B.V. Sells 9,800 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Mn Services Vermogensbeheer B.V. lessened its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 2.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 337,300 shares of the company’s stock after selling 9,800 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Kraft Heinz were worth $10,868,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. NBT Bank N A NY raised its stake in Kraft Heinz by 2.2% during the first quarter. NBT Bank N A NY now owns 12,785 shares of the company’s stock worth $472,000 after acquiring an additional 270 shares in the last quarter. Welch Group LLC increased its position in shares of Kraft Heinz by 1.9% during the 1st quarter. Welch Group LLC now owns 14,868 shares of the company’s stock worth $549,000 after purchasing an additional 272 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Kraft Heinz by 13.2% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 2,423 shares of the company’s stock valued at $89,000 after purchasing an additional 282 shares during the last quarter. Integrated Advisors Network LLC boosted its position in Kraft Heinz by 2.4% in the fourth quarter. Integrated Advisors Network LLC now owns 12,881 shares of the company’s stock valued at $476,000 after buying an additional 301 shares in the last quarter. Finally, Johnson Investment Counsel Inc. grew its stake in Kraft Heinz by 2.1% during the fourth quarter. Johnson Investment Counsel Inc. now owns 14,663 shares of the company’s stock worth $542,000 after buying an additional 307 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on KHC. Piper Sandler cut their target price on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, June 20th. Bank of America reduced their price objective 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. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price objective on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Finally, Evercore ISI dropped their target price on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Kraft Heinz presently has a consensus rating of “Hold” and an average target price of $37.31.

Kraft Heinz Trading Up 1.1 %

KHC traded up $0.39 during midday trading on Friday, reaching $35.91. 4,385,647 shares of the company were exchanged, compared to its average volume of 7,981,689. The stock’s 50-day simple moving average is $33.54 and its 200 day simple moving average is $35.06. The Kraft Heinz Company has a one year low of $30.68 and a one year high of $38.96. The stock has a market capitalization of $43.61 billion, a P/E ratio of 15.68, a PEG ratio of 3.52 and a beta of 0.53. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.61 and a current ratio of 1.01.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.05. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The company had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same period last year, the business posted $0.79 earnings per share. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. As a group, analysts forecast that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a yield of 4.46%. Kraft Heinz’s payout ratio is 69.87%.

Insiders Place Their Bets

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the sale, the insider now directly 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 accessible through this link. Corporate insiders own 0.32% of the company’s stock.

About Kraft Heinz

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.