The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by McKinley Carter Wealth Services Inc.

McKinley Carter Wealth Services Inc. decreased its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 32.0% in the third quarter, HoldingsChannel reports. The firm owned 7,069 shares of the company’s stock after selling 3,322 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Kraft Heinz were worth $248,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New Covenant Trust Company N.A. purchased a new position in Kraft Heinz during the first quarter valued at approximately $27,000. Asset Dedication LLC raised its position in Kraft Heinz by 94.8% during the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after acquiring an additional 476 shares in the last quarter. Bangor Savings Bank purchased a new position in Kraft Heinz during the third quarter valued at approximately $32,000. Hantz Financial Services Inc. purchased a new position in Kraft Heinz during the second quarter valued at approximately $34,000. Finally, Valley Wealth Managers Inc. raised its position in Kraft Heinz by 46.4% during the second quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock valued at $35,000 after acquiring an additional 340 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Insiders Place Their Bets

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the business’s stock in a transaction 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 transaction, the insider now owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on KHC. JPMorgan Chase & Co. reduced their price target on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Piper Sandler cut their price objective 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. Citigroup cut their price objective on Kraft Heinz from $41.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Evercore ISI cut their price objective 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. Finally, Bank of America cut their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $37.55.

Kraft Heinz Stock Up 0.3 %

Shares of KHC opened at $35.81 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.53 and a current ratio of 1.01. The Kraft Heinz Company has a one year low of $31.08 and a one year high of $38.96. The stock has a market capitalization of $43.48 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 3.39 and a beta of 0.49. The stock has a 50 day moving average price of $35.17 and a 200 day moving average price of $34.98.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.73 by $0.05. The firm had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.79 earnings per share. Equities research analysts forecast that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend was Friday, August 30th. Kraft Heinz’s dividend payout ratio (DPR) is currently 69.87%.

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.