Evergreen Capital Management LLC Has $3.43 Million Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Evergreen Capital Management LLC reduced its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 1.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 106,476 shares of the company’s stock after selling 1,754 shares during the period. Evergreen Capital Management LLC’s holdings in Kraft Heinz were worth $3,431,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in KHC. Vanguard Group Inc. boosted its holdings in Kraft Heinz by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 70,398,831 shares of the company’s stock valued at $2,603,349,000 after purchasing an additional 183,234 shares in the last quarter. LSV Asset Management boosted its stake in Kraft Heinz by 2.1% in the 2nd quarter. LSV Asset Management now owns 9,107,688 shares of the company’s stock valued at $293,450,000 after buying an additional 189,000 shares in the last quarter. Capital World Investors grew its position in Kraft Heinz by 83.4% in the first quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock valued at $321,388,000 after acquiring an additional 3,961,872 shares during the period. Dimensional Fund Advisors LP raised its stake in Kraft Heinz by 47.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock worth $178,379,000 after acquiring an additional 1,778,263 shares in the last quarter. Finally, Cooke & Bieler LP lifted its holdings in shares of Kraft Heinz by 4.7% during the second quarter. Cooke & Bieler LP now owns 3,402,510 shares of the company’s stock valued at $109,629,000 after acquiring an additional 153,490 shares during the period. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Price Performance

Kraft Heinz stock opened at $34.68 on Tuesday. The business’s 50-day simple moving average is $34.85 and its 200 day simple moving average is $35.04. The company has a quick ratio of 0.53, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. The stock has a market cap of $42.11 billion, a price-to-earnings ratio of 15.14, a P/E/G ratio of 3.43 and a beta of 0.49. The Kraft Heinz Company has a 12-month low of $30.68 and a 12-month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly 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. The company 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 revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.79 EPS. As a group, research analysts anticipate that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date of this dividend is Friday, August 30th. Kraft Heinz’s dividend payout ratio (DPR) is currently 69.87%.

Analysts Set New Price Targets

KHC has been the topic of several analyst reports. The Goldman Sachs Group assumed coverage on shares of Kraft Heinz in a report on Monday, August 12th. They issued a “sell” rating and a $34.00 target price on the stock. Evercore ISI dropped their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. reduced their target price on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Citigroup dropped 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. Finally, Piper Sandler reduced their price objective on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $37.45.

Insider Buying and Selling

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $36.00, for a total value of $146,736.00. Following the transaction, the insider now owns 143,970 shares of the company’s stock, valued at $5,182,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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.