Mutual of America Capital Management LLC Sells 4,956 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Mutual of America Capital Management LLC lessened its stake in The Kraft Heinz Company (NASDAQ:KHC) by 4.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 99,635 shares of the company’s stock after selling 4,956 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Kraft Heinz were worth $3,210,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Steward Partners Investment Solutions LLC bought a new position in shares of Kraft Heinz during the 4th quarter worth $25,000. New Covenant Trust Company N.A. purchased a new position in shares of Kraft Heinz in the first quarter worth about $27,000. Asset Dedication LLC raised its position in shares of Kraft Heinz by 94.8% in the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after purchasing an additional 476 shares during the period. Hantz Financial Services Inc. purchased a new stake in shares of Kraft Heinz during the 2nd quarter valued at approximately $34,000. Finally, Valley Wealth Managers Inc. boosted its holdings in Kraft Heinz by 46.4% in the 2nd quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock worth $35,000 after buying an additional 340 shares during the period. 78.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. The Goldman Sachs Group assumed coverage on Kraft Heinz in a research report on Monday, August 12th. They set a “sell” rating and a $34.00 target price on the stock. JPMorgan Chase & Co. cut their target price on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Bank of America decreased their price target on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Barclays raised 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 decreased their target price on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $37.45.

Kraft Heinz Stock Performance

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

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

Kraft Heinz Dividend Announcement

The firm also recently announced 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. This represents a $1.60 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend is Friday, August 30th. Kraft Heinz’s dividend payout ratio is currently 69.87%.

Insider Buying and Selling

In other news, insider Cory Onell sold 4,076 shares of the firm’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 transaction, the insider now directly owns 143,970 shares of the company’s stock, valued at $5,182,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is owned by corporate 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.