Stock Yards Bank & Trust Co. Sells 1,126 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Stock Yards Bank & Trust Co. reduced its stake in The Kraft Heinz Company (NASDAQ:KHC) by 9.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,266 shares of the company’s stock after selling 1,126 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Kraft Heinz were worth $331,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Level Four Advisory Services LLC lifted its holdings in Kraft Heinz by 21.6% during the 4th quarter. Level Four Advisory Services LLC now owns 8,802 shares of the company’s stock valued at $325,000 after purchasing an additional 1,562 shares during the last quarter. Norges Bank bought a new position in shares of Kraft Heinz in the fourth quarter valued at approximately $13,417,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Kraft Heinz by 97.9% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 44,873 shares of the company’s stock worth $1,659,000 after acquiring an additional 22,203 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Kraft Heinz by 3.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 210,297 shares of the company’s stock worth $7,777,000 after acquiring an additional 6,135 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its position in Kraft Heinz by 4.4% during the 4th quarter. Coldstream Capital Management Inc. now owns 13,888 shares of the company’s stock worth $514,000 after acquiring an additional 586 shares during the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Trading Up 0.3 %

NASDAQ KHC opened at $35.14 on Thursday. The Kraft Heinz Company has a one year low of $30.68 and a one year high of $38.96. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53. The firm has a market cap of $42.67 billion, a P/E ratio of 15.34, a P/E/G ratio of 3.43 and a beta of 0.49. The stock’s 50-day moving average is $34.69 and its 200-day moving average is $35.05.

Kraft Heinz (NASDAQ:KHC) last announced its 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. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The firm had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same period last year, the company posted $0.79 EPS. The business’s quarterly revenue was down 3.3% on a year-over-year basis. Sell-side analysts anticipate that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.55%. Kraft Heinz’s payout ratio is presently 69.87%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on KHC shares. Citigroup cut their price target on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Evercore ISI reduced their price objective 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. Wells Fargo & Company upped their target price on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Piper Sandler reduced their price target on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, June 20th. Finally, Bank of America dropped their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Kraft Heinz currently has a consensus rating of “Hold” and an average target price of $37.50.

Insider Activity at Kraft Heinz

In other news, insider Cory Onell sold 4,076 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the completion of the transaction, the insider now directly owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is owned by insiders.

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.