The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Profund Advisors LLC

Profund Advisors LLC reduced its stake in The Kraft Heinz Company (NASDAQ:KHC) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 96,696 shares of the company’s stock after selling 1,318 shares during the quarter. Profund Advisors LLC’s holdings in Kraft Heinz were worth $3,116,000 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 acquired a new position in shares of Kraft Heinz in the 4th quarter worth approximately $25,000. New Covenant Trust Company N.A. purchased a new stake in Kraft Heinz during the 1st quarter worth approximately $27,000. Asset Dedication LLC increased its stake in Kraft Heinz by 94.8% during the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after buying an additional 476 shares during the period. Transcendent Capital Group LLC purchased a new stake in Kraft Heinz during the 4th quarter worth approximately $38,000. Finally, Hantz Financial Services Inc. purchased a new stake in Kraft Heinz during the 2nd quarter worth approximately $34,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Cory Onell sold 4,076 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

KHC has been the topic of several recent research reports. JPMorgan Chase & Co. cut their target price on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft cut their target price on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Evercore ISI cut their target price 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. Barclays increased their price objective on shares of Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Finally, Piper Sandler dropped their price objective on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $37.45.

Kraft Heinz Stock Down 0.1 %

Shares of NASDAQ:KHC opened at $34.96 on Monday. The stock has a market cap of $42.45 billion, a P/E ratio of 15.27, a P/E/G ratio of 3.43 and a beta of 0.49. The firm has a fifty day moving average price of $34.80 and a 200 day moving average price of $35.04. 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 Kraft Heinz Company has a 1-year low of $30.68 and a 1-year high of $38.96.

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

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s dividend payout ratio is currently 69.87%.

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.