Foundation Resource Management Inc. Sells 1,238 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Foundation Resource Management Inc. reduced its stake in The Kraft Heinz Company (NASDAQ:KHC) by 0.4% in the 3rd quarter, Holdings Channel reports. The firm owned 321,106 shares of the company’s stock after selling 1,238 shares during the period. Kraft Heinz accounts for approximately 1.7% of Foundation Resource Management Inc.’s holdings, making the stock its 23rd biggest position. Foundation Resource Management Inc.’s holdings in Kraft Heinz were worth $11,274,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in KHC. Welch Group LLC raised its position in shares of Kraft Heinz by 1.9% in the first quarter. Welch Group LLC now owns 14,868 shares of the company’s stock valued at $549,000 after purchasing an additional 272 shares during the period. Massmutual Trust Co. FSB ADV lifted its position 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 worth $89,000 after acquiring an additional 282 shares during the last quarter. Integrated Advisors Network LLC grew its position in shares of 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 purchasing an additional 301 shares during the last quarter. MADDEN SECURITIES Corp increased its stake in shares of Kraft Heinz by 2.4% in the third quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock worth $448,000 after purchasing an additional 303 shares during the period. Finally, HB Wealth Management LLC lifted its position in shares of Kraft Heinz by 2.5% during the 2nd quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock worth $419,000 after purchasing an additional 314 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

Insider Activity at Kraft Heinz

In other news, insider Cory Onell sold 4,076 shares of Kraft Heinz stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $36.00, for a total value of $146,736.00. Following the completion of the sale, the insider now directly owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.32% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on KHC. The Goldman Sachs Group began coverage on Kraft Heinz in a research report on Monday, August 12th. They issued a “sell” rating and a $34.00 price target on the stock. Piper Sandler decreased their price target on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, June 20th. Barclays boosted their price target on Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lowered their price objective on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Evercore ISI dropped their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $37.55.

Kraft Heinz Stock Performance

NASDAQ:KHC opened at $35.22 on Friday. The stock has a market capitalization of $42.58 billion, a P/E ratio of 22.58, a price-to-earnings-growth ratio of 3.39 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 firm has a 50 day moving average of $35.13 and a 200-day moving average of $35.01. 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 issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $6.55 billion. During the same quarter in the previous year, the company posted $0.79 EPS. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were given a dividend of $0.40 per share. The ex-dividend date was Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.54%. 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.