Brighton Jones LLC Reduces Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Brighton Jones LLC reduced its position in The Kraft Heinz Company (NASDAQ:KHC) by 5.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,185 shares of the company’s stock after selling 428 shares during the period. Brighton Jones LLC’s holdings in Kraft Heinz were worth $264,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of KHC. Steward Partners Investment Solutions LLC acquired a new stake in Kraft Heinz in the fourth quarter valued at $25,000. New Covenant Trust Company N.A. bought a new stake in shares of Kraft Heinz in the 1st quarter worth about $27,000. Asset Dedication LLC raised its stake in shares of Kraft Heinz by 94.8% in the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after purchasing an additional 476 shares in the last quarter. Hantz Financial Services Inc. bought a new position in shares of Kraft Heinz during the second quarter worth about $34,000. Finally, Valley Wealth Managers Inc. grew its stake in Kraft Heinz by 46.4% in the second quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock worth $35,000 after purchasing an additional 340 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Kraft Heinz

In related news, insider Cory Onell sold 4,076 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $36.00, for a total transaction of $146,736.00. Following the sale, the insider now owns 143,970 shares of the company’s stock, valued at $5,182,920. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.32% of the company’s stock.

Kraft Heinz Stock Performance

KHC opened at $34.96 on Monday. The Kraft Heinz Company has a twelve month low of $30.68 and a twelve month high of $38.96. The stock has a market cap of $42.45 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 3.43 and a beta of 0.49. The business’s 50 day moving average is $34.80 and its 200-day moving average is $35.04. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. The company 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 firm’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.79 EPS. On average, analysts predict that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft reduced their target price on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Bank of America decreased their price objective 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. Piper Sandler dropped 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. Wells Fargo & Company lifted their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Finally, Evercore ISI dropped their price objective 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kraft Heinz has an average rating of “Hold” and an average target price of $37.45.

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.