Beck Bode LLC Lowers Stake in The Kraft Heinz Company (NASDAQ:KHC)

Beck Bode LLC lowered its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 0.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,630 shares of the company’s stock after selling 387 shares during the period. Beck Bode LLC’s holdings in Kraft Heinz were worth $5,820,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital World Investors raised its position in shares of Kraft Heinz by 83.4% in the 1st quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock worth $321,388,000 after purchasing an additional 3,961,872 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Kraft Heinz by 47.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock worth $178,379,000 after buying an additional 1,778,263 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Kraft Heinz by 346.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,520,006 shares of the company’s stock worth $57,799,000 after buying an additional 1,179,863 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Kraft Heinz by 56.7% during the first quarter. Nordea Investment Management AB now owns 2,840,148 shares of the company’s stock valued at $104,929,000 after buying an additional 1,027,636 shares during the last quarter. Finally, Poplar Forest Capital LLC bought a new stake in shares of Kraft Heinz during the second quarter valued at approximately $26,353,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Insider Buying and Selling

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of Kraft Heinz 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 transaction, the insider now owns 143,970 shares of the company’s stock, valued at $5,182,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

KHC has been the topic of several analyst reports. Evercore ISI lowered their price objective on 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 dropped their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Piper Sandler decreased their target price on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, June 20th. Barclays upped their target price on shares of Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company lifted their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Kraft Heinz currently has an average rating of “Hold” and an average price target of $37.50.

Kraft Heinz Stock Down 1.7 %

KHC opened at $35.04 on Wednesday. The firm’s 50 day simple moving average is $34.62 and its two-hundred day simple moving average is $35.05. The company has a market capitalization 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. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $6.55 billion. During the same period in the prior year, the business posted $0.79 EPS. Kraft Heinz’s revenue was down 3.3% on a year-over-year basis. As a group, equities analysts forecast 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. Investors of record on Friday, August 30th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.57%. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

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.