Covestor Ltd Sells 396 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Covestor Ltd reduced its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 16.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,037 shares of the company’s stock after selling 396 shares during the period. Covestor Ltd’s holdings in Kraft Heinz were worth $75,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in KHC. Steward Partners Investment Solutions LLC bought a new position in shares of Kraft Heinz in the fourth quarter worth about $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Kraft Heinz during the 4th quarter worth approximately $32,000. Transcendent Capital Group LLC acquired a new stake in shares of Kraft Heinz during the 4th quarter worth approximately $38,000. Janiczek Wealth Management LLC grew its position in shares of Kraft Heinz by 409.4% during the 1st quarter. Janiczek Wealth Management LLC now owns 1,187 shares of the company’s stock worth $44,000 after buying an additional 954 shares during the period. Finally, AlphaMark Advisors LLC grew its position in shares of Kraft Heinz by 128.9% during the 1st quarter. AlphaMark Advisors LLC now owns 1,181 shares of the company’s stock worth $44,000 after buying an additional 665 shares during the period. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Stock Performance

Shares of KHC stock opened at $33.05 on Thursday. The company has a quick ratio of 0.61, a current ratio of 1.09 and a debt-to-equity ratio of 0.40. The company’s fifty day simple moving average is $33.57 and its 200-day simple moving average is $35.47. The Kraft Heinz Company has a 12 month low of $30.68 and a 12 month high of $38.96. The firm has a market cap of $40.13 billion, a PE ratio of 14.43, a P/E/G ratio of 3.29 and a beta of 0.53.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.01. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The firm had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.43 billion. During the same period in the prior year, the firm posted $0.68 earnings per share. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. Equities research analysts expect that The Kraft Heinz Company will post 2.99 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 6th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.84%. The ex-dividend date of this dividend was Thursday, June 6th. Kraft Heinz’s dividend payout ratio (DPR) is currently 69.87%.

Insider Activity

In other news, insider Lande Rashida La sold 10,140 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $35.95, for a total value of $364,533.00. Following 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

KHC has been the subject of a number of analyst reports. Barclays decreased their price objective on shares of Kraft Heinz from $36.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, July 19th. Piper Sandler decreased their price objective on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, June 20th. Citigroup decreased their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Finally, Bank of America decreased their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.83.

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.