Southeast Asset Advisors LLC Has $500,000 Stake in Kraft Heinz Company $KHC

Southeast Asset Advisors LLC lowered its stake in shares of Kraft Heinz Company (NASDAQ:KHC) by 48.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,378 shares of the company’s stock after selling 18,358 shares during the quarter. Southeast Asset Advisors LLC’s holdings in Kraft Heinz were worth $500,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Shell Asset Management Co. increased its stake in Kraft Heinz by 89.7% in the second quarter. Shell Asset Management Co. now owns 90,450 shares of the company’s stock valued at $2,335,000 after acquiring an additional 42,758 shares during the last quarter. Lakeshore Capital Group Inc. grew its stake in shares of Kraft Heinz by 39.8% during the second quarter. Lakeshore Capital Group Inc. now owns 37,050 shares of the company’s stock worth $957,000 after buying an additional 10,551 shares during the last quarter. Swedbank AB grew its position in Kraft Heinz by 13.6% during the 1st quarter. Swedbank AB now owns 878,684 shares of the company’s stock worth $26,738,000 after acquiring an additional 104,872 shares during the last quarter. Bard Financial Services Inc. increased its stake in shares of Kraft Heinz by 24.5% in the second quarter. Bard Financial Services Inc. now owns 104,225 shares of the company’s stock valued at $2,691,000 after buying an additional 20,500 shares during the period. Finally, Quinn Opportunity Partners LLC grew its stake in shares of Kraft Heinz by 225.2% in the second quarter. Quinn Opportunity Partners LLC now owns 403,238 shares of the company’s stock worth $10,412,000 after purchasing an additional 279,238 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Stock Performance

NASDAQ:KHC opened at $25.23 on Tuesday. Kraft Heinz Company has a 1 year low of $23.70 and a 1 year high of $33.35. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66. The business has a fifty day simple moving average of $25.29 and a two-hundred day simple moving average of $26.44. The company has a market capitalization of $29.86 billion, a P/E ratio of -6.76, a P/E/G ratio of 2.88 and a beta of 0.16.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Friday, July 8th. The company reported $0.72 earnings per share for the quarter. The company had revenue of $6.39 billion during the quarter. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 17.35%. On average, analysts expect that Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, November 28th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Friday, November 28th. Kraft Heinz’s dividend payout ratio is presently -42.90%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Evercore ISI cut their target price on Kraft Heinz from $30.00 to $28.00 and set an “in-line” rating on the stock in a research report on Thursday, October 30th. BNP Paribas Exane cut their price target on Kraft Heinz from $29.00 to $26.00 in a report on Thursday, October 30th. Jefferies Financial Group lowered their price objective on shares of Kraft Heinz from $28.00 to $24.00 and set a “hold” rating for the company in a research note on Wednesday, October 15th. Mizuho dropped their target price on shares of Kraft Heinz from $29.00 to $27.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 28th. Finally, UBS Group reduced their price target on shares of Kraft Heinz from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $26.58.

Kraft Heinz Company 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.