Sound View Wealth Advisors Group LLC Sells 2,083 Shares of Kraft Heinz Company (NASDAQ:KHC)

Sound View Wealth Advisors Group LLC lessened its holdings in Kraft Heinz Company (NASDAQ:KHC) by 17.9% during the first quarter, Holdings Channel.com reports. The firm owned 9,565 shares of the company’s stock after selling 2,083 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Kraft Heinz were worth $291,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Rossby Financial LCC purchased a new position in shares of Kraft Heinz in the first quarter valued at about $29,000. Wayfinding Financial LLC bought a new position in shares of Kraft Heinz during the first quarter valued at about $33,000. Investment Management Corp VA ADV raised its stake in shares of Kraft Heinz by 141.7% during the first quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company’s stock valued at $35,000 after acquiring an additional 669 shares during the last quarter. Pinney & Scofield Inc. bought a new position in shares of Kraft Heinz during the fourth quarter valued at about $38,000. Finally, Abound Wealth Management raised its stake in shares of Kraft Heinz by 1,157.0% during the first quarter. Abound Wealth Management now owns 1,257 shares of the company’s stock valued at $38,000 after acquiring an additional 1,157 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Wall Street Analysts Forecast Growth

KHC has been the subject of several recent analyst reports. Stifel Nicolaus lowered their price objective on shares of Kraft Heinz from $31.00 to $30.00 and set a “hold” rating for the company in a research note on Wednesday, April 30th. Cfra Research downgraded shares of Kraft Heinz from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, April 16th. Sanford C. Bernstein downgraded shares of Kraft Heinz from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $34.00 to $31.00 in a research note on Tuesday, April 22nd. DZ Bank downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a research note on Friday, May 9th. Finally, The Goldman Sachs Group raised shares of Kraft Heinz from a “sell” rating to a “neutral” rating and upped their price objective for the company from $25.00 to $27.00 in a research note on Wednesday, June 25th. Three analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. According to MarketBeat.com, Kraft Heinz has an average rating of “Hold” and an average target price of $30.35.

Insiders Place Their Bets

In other Kraft Heinz news, Director Elio Leoni Sceti sold 25,000 shares of the company’s stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $27.91, for a total value of $697,750.00. Following the sale, the director owned 40,000 shares in the company, valued at approximately $1,116,400. This represents a 38.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.35% of the company’s stock.

Kraft Heinz Price Performance

Shares of KHC opened at $27.41 on Friday. The stock has a market cap of $32.44 billion, a PE ratio of -6.10, a price-to-earnings-growth ratio of 3.21 and a beta of 0.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.07. Kraft Heinz Company has a fifty-two week low of $25.44 and a fifty-two week high of $36.53. The firm’s 50-day simple moving average is $26.87 and its two-hundred day simple moving average is $28.53.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.26 billion. Kraft Heinz had a negative net margin of 20.83% and a positive return on equity of 7.40%. The business’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 earnings per share. Analysts anticipate that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, August 29th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Friday, August 29th. Kraft Heinz’s dividend payout ratio is -35.63%.

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.