Creative Planning Sells 98,284 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Creative Planning reduced its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 46.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,283 shares of the company’s stock after selling 98,284 shares during the period. Creative Planning’s holdings in Kraft Heinz were worth $3,907,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. LSV Asset Management lifted its stake in shares of Kraft Heinz by 2.1% in 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 last quarter. Legal & General Group Plc boosted its stake in Kraft Heinz by 9.7% during the 2nd quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock valued at $292,061,000 after purchasing an additional 799,581 shares during the period. Capital World Investors lifted its holdings 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 last quarter. Dimensional Fund Advisors LP increased its position 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 during the period. Finally, AQR Capital Management LLC boosted its holdings in Kraft Heinz by 14.2% in the 2nd quarter. AQR Capital Management LLC now owns 4,063,076 shares of the company’s stock valued at $130,912,000 after purchasing an additional 505,180 shares during the period. Institutional investors own 78.17% of the company’s stock.

Insider Activity at Kraft Heinz

In other news, insider Cory Onell sold 4,076 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was 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 of the company’s stock, valued at approximately $5,182,920. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.32% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on the company. Barclays upped their price target on Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Wells Fargo & Company boosted their target price on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft decreased their price target on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Stifel Nicolaus downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price target for the stock from $40.00 to $38.00 in a research report on Friday. Finally, Bank of America lowered their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. One research 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.58.

Kraft Heinz Price Performance

KHC opened at $34.74 on Friday. The stock has a market cap of $42.00 billion, a P/E ratio of 22.27, a P/E/G ratio of 3.48 and a beta of 0.49. 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 company has a fifty day simple moving average of $35.28 and a 200 day simple moving average of $34.93. The Kraft Heinz Company has a 12 month low of $31.08 and a 12 month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.05. The firm had revenue of $6.50 billion for the quarter, compared to the consensus estimate 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 for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.79 EPS. On average, research analysts expect that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend was Friday, August 30th. Kraft Heinz’s payout ratio is 102.56%.

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.