Sequoia Financial Advisors LLC Sells 588,257 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Sequoia Financial Advisors LLC cut its stake in The Kraft Heinz Company (NASDAQ:KHC) by 95.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,087 shares of the company’s stock after selling 588,257 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Kraft Heinz were worth $1,110,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. FSC Wealth Advisors LLC lifted its position in shares of Kraft Heinz by 23.4% during the fourth quarter. FSC Wealth Advisors LLC now owns 1,424 shares of the company’s stock worth $53,000 after purchasing an additional 270 shares during the last quarter. NBT Bank N A NY increased its stake in shares of Kraft Heinz by 2.2% during the first quarter. NBT Bank N A NY now owns 12,785 shares of the company’s stock valued at $472,000 after buying an additional 270 shares during the period. Welch Group LLC increased its stake in shares of Kraft Heinz by 1.9% during the first quarter. Welch Group LLC now owns 14,868 shares of the company’s stock valued at $549,000 after buying an additional 272 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in shares of Kraft Heinz by 13.2% during the first quarter. Massmutual Trust Co. FSB ADV now owns 2,423 shares of the company’s stock valued at $89,000 after buying an additional 282 shares during the period. Finally, Archer Investment Corp increased its stake in shares of Kraft Heinz by 2.0% during the fourth quarter. Archer Investment Corp now owns 14,709 shares of the company’s stock valued at $544,000 after buying an additional 294 shares during the period. 78.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Kraft Heinz news, insider Lande Rashida La sold 10,140 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $35.95, for a total value of $364,533.00. Following the completion of the transaction, the insider now directly owns 158,266 shares of the company’s stock, valued at $5,689,662.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

KHC has been the topic of several research reports. Deutsche Bank Aktiengesellschaft raised their price target on Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Wells Fargo & Company cut their target price on Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 27th. Piper Sandler cut their target price on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, June 20th. Finally, Bank of America lifted their target price on Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $39.75.

Kraft Heinz Stock Performance

Shares of KHC stock remained flat at $32.09 during trading hours on Friday. The stock had a trading volume of 5,200,219 shares, compared to its average volume of 7,350,779. The Kraft Heinz Company has a 1-year low of $30.68 and a 1-year high of $38.96. The stock has a market cap of $38.97 billion, a PE ratio of 14.01, a PEG ratio of 2.59 and a beta of 0.53. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 1.09. The firm has a 50-day moving average price of $34.56 and a two-hundred day moving average price of $35.87.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, May 1st. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The firm had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.43 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company’s revenue was down 1.2% compared to the same quarter last year. On average, equities analysts expect that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 6th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date of this dividend was Thursday, June 6th. Kraft Heinz’s dividend payout ratio (DPR) is 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.