The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Palouse Capital Management Inc.

Palouse Capital Management Inc. cut its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 1.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 57,707 shares of the company’s stock after selling 868 shares during the quarter. Palouse Capital Management Inc.’s holdings in Kraft Heinz were worth $1,859,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Kendall Capital Management increased its stake in Kraft Heinz by 36.3% in the 2nd quarter. Kendall Capital Management now owns 64,045 shares of the company’s stock valued at $2,064,000 after purchasing an additional 17,071 shares in the last quarter. Altrius Capital Management Inc grew its holdings in Kraft Heinz by 13.0% in the second quarter. Altrius Capital Management Inc now owns 122,810 shares of the company’s stock valued at $3,957,000 after purchasing an additional 14,141 shares during the last quarter. Seven Eight Capital LP purchased a new position in shares of Kraft Heinz in the second quarter valued at $1,224,000. Elo Mutual Pension Insurance Co raised its stake in shares of Kraft Heinz by 13.0% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 80,341 shares of the company’s stock worth $2,589,000 after buying an additional 9,215 shares during the last quarter. Finally, Blair William & Co. IL boosted its position in shares of Kraft Heinz by 10.5% in the 2nd quarter. Blair William & Co. IL now owns 250,678 shares of the company’s stock worth $8,077,000 after buying an additional 23,810 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Performance

Kraft Heinz stock opened at $35.14 on Thursday. The stock has a fifty day moving average price of $34.69 and a 200 day moving average price of $35.05. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a 52 week low of $30.68 and a 52 week high of $38.96. The firm has a market capitalization of $42.67 billion, a P/E ratio of 15.34, a PEG ratio of 3.43 and a beta of 0.49.

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 during the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter in the prior year, the company posted $0.79 EPS. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. Equities research analysts anticipate that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

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

Insider Transactions at Kraft Heinz

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $5,182,920. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on KHC. Barclays lifted their target price on shares of Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft cut their price objective on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. The Goldman Sachs Group initiated coverage on Kraft Heinz in a research report on Monday, August 12th. They set a “sell” rating and a $34.00 price target for the company. Citigroup reduced their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Finally, Evercore ISI decreased their price objective on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $37.50.

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.