Steel Grove Capital Advisors LLC Sells 1,786 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Steel Grove Capital Advisors LLC trimmed its position in The Kraft Heinz Company (NASDAQ:KHC) by 3.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,359 shares of the company’s stock after selling 1,786 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in Kraft Heinz were worth $1,526,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Steward Partners Investment Solutions LLC bought a new stake in Kraft Heinz during the fourth quarter worth approximately $25,000. New Covenant Trust Company N.A. bought a new stake in Kraft Heinz during the first quarter worth approximately $27,000. Asset Dedication LLC increased its stake in Kraft Heinz by 94.8% during the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after acquiring an additional 476 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in Kraft Heinz during the fourth quarter worth approximately $38,000. Finally, Hantz Financial Services Inc. bought a new stake in Kraft Heinz during the second quarter worth approximately $34,000. 78.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Evercore ISI reduced their price target on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Barclays increased 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. Deutsche Bank Aktiengesellschaft reduced their price target on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Wells Fargo & Company increased their price objective on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group began coverage on Kraft Heinz in a research note on Monday, August 12th. They issued a “sell” rating and a $34.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Kraft Heinz presently has an average rating of “Hold” and an average price target of $37.45.

Kraft Heinz Stock Performance

Shares of KHC opened at $34.96 on Monday. The Kraft Heinz Company has a 12 month low of $30.68 and a 12 month high of $38.96. The stock has a fifty day moving average price of $34.80 and a 200-day moving average price of $35.04. 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 firm has a market cap of $42.45 billion, a PE ratio of 15.27, a P/E/G ratio of 3.43 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.73 by $0.05. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The firm had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the prior year, the business posted $0.79 EPS. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. Equities research analysts predict that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued 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 4.58%. Kraft Heinz’s dividend payout ratio is presently 69.87%.

Insider Activity

In other news, insider Cory Onell sold 4,076 shares of the stock in a transaction 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 approximately $5,182,920. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.32% of the company’s stock.

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.