Trust Point Inc. Cuts Stake in The Kraft Heinz Company (NASDAQ:KHC)

Trust Point Inc. lessened its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 12.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,469 shares of the company’s stock after selling 897 shares during the quarter. Trust Point Inc.’s holdings in Kraft Heinz were worth $227,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of KHC. Clifford Capital Partners LLC increased its stake in shares of Kraft Heinz by 21.4% during the second quarter. Clifford Capital Partners LLC now owns 454,884 shares of the company’s stock worth $14,656,000 after buying an additional 80,101 shares during the period. Lazard Asset Management LLC raised its holdings in shares of Kraft Heinz by 13.2% in the 1st quarter. Lazard Asset Management LLC now owns 2,006,917 shares of the company’s stock valued at $74,053,000 after purchasing an additional 234,783 shares in the last quarter. Smith Thornton Advisors LLC purchased a new stake in shares of Kraft Heinz during the 2nd quarter worth $654,000. MBB Public Markets I LLC acquired a new position in shares of Kraft Heinz during the second quarter worth $2,001,000. Finally, Sei Investments Co. grew its stake in shares of Kraft Heinz by 12.8% during the second quarter. Sei Investments Co. now owns 760,222 shares of the company’s stock worth $24,495,000 after purchasing an additional 86,311 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Insider Buying and Selling at Kraft Heinz

In other news, insider Cory Onell sold 4,076 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 143,970 shares in the company, valued at $5,182,920. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.32% of the company’s stock.

Kraft Heinz Stock Performance

Shares of Kraft Heinz stock opened at $36.00 on Friday. The firm’s fifty day simple moving average is $35.20 and its 200-day simple moving average is $34.96. The Kraft Heinz Company has a 12 month low of $31.08 and a 12 month high of $38.96. The stock has a market capitalization of $43.71 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 3.39 and a beta of 0.49. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates 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 in the previous year, the business posted $0.79 earnings per share. Kraft Heinz’s quarterly 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 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a yield of 4.44%. Kraft Heinz’s payout ratio is 69.87%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on KHC shares. Barclays lifted their price target on Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Citigroup decreased their target price on Kraft Heinz from $41.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Evercore ISI dropped their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Bank of America cut their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have given 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 a consensus rating of “Hold” and an average price target of $37.55.

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.