The Kraft Heinz Company (NASDAQ:KHC) Stake Lowered by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. cut its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 15.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,044 shares of the company’s stock after selling 3,132 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Kraft Heinz were worth $549,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of 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 during the last quarter. LSV Asset Management boosted its position in shares of Kraft Heinz by 2.1% during the second quarter. LSV Asset Management now owns 9,107,688 shares of the company’s stock worth $293,450,000 after buying an additional 189,000 shares during the period. Legal & General Group Plc boosted its position in shares of Kraft Heinz by 9.7% during the second quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock worth $292,061,000 after buying an additional 799,581 shares during the period. Capital World Investors boosted its position in shares of Kraft Heinz by 83.4% during the first quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock worth $321,388,000 after buying an additional 3,961,872 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of 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 buying an additional 1,778,263 shares during the period. 78.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

KHC has been the subject of a number of research analyst reports. Citigroup cut their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. The Goldman Sachs Group initiated coverage on Kraft Heinz in a research report on Monday, August 12th. They issued a “sell” rating and a $34.00 target price for the company. 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 report on Wednesday, July 31st. Wells Fargo & Company upped their target price on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Finally, Piper Sandler cut their target price on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, June 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $37.45.

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 value of $146,736.00. Following the sale, the insider now directly owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is owned by corporate insiders.

Kraft Heinz Price Performance

KHC opened at $34.59 on Friday. The stock has a fifty day moving average of $35.12 and a 200-day moving average of $35.04. The firm has a market capitalization of $42.00 billion, a P/E ratio of 15.10, a PEG ratio of 3.39 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. The company has a quick ratio of 0.53, a current ratio of 1.01 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data 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. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The business had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same period last year, the company earned $0.79 earnings per share. Kraft Heinz’s quarterly revenue was down 3.3% compared to the same quarter last year. Equities analysts forecast that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, August 30th. This represents a $1.60 annualized dividend and a dividend yield of 4.63%. Kraft Heinz’s dividend payout ratio is 69.87%.

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.