Kraft Heinz Company $KHC Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC reduced its stake in Kraft Heinz Company (NASDAQ:KHC) by 40.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 88,556 shares of the company’s stock after selling 60,868 shares during the period. DAVENPORT & Co LLC’s holdings in Kraft Heinz were worth $2,287,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Swedbank AB boosted its stake in Kraft Heinz by 13.6% in the first quarter. Swedbank AB now owns 878,684 shares of the company’s stock valued at $26,738,000 after acquiring an additional 104,872 shares during the period. Bard Financial Services Inc. boosted its stake in 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 acquiring an additional 20,500 shares during the period. D.A. Davidson & CO. boosted its position in shares of Kraft Heinz by 7.8% during the first quarter. D.A. Davidson & CO. now owns 90,252 shares of the company’s stock worth $2,746,000 after buying an additional 6,551 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Kraft Heinz by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 8,171,720 shares of the company’s stock worth $248,665,000 after buying an additional 103,548 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Kraft Heinz by 28.1% during the first quarter. GAMMA Investing LLC now owns 15,794 shares of the company’s stock worth $481,000 after buying an additional 3,468 shares during the period. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Morgan Stanley set a $29.00 price objective on Kraft Heinz and gave the stock an “equal weight” rating in a research report on Wednesday, September 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Kraft Heinz in a research report on Wednesday. JPMorgan Chase & Co. assumed coverage on Kraft Heinz in a research report on Wednesday, August 20th. They set a “neutral” rating and a $27.00 price objective for the company. Hsbc Global Res upgraded Kraft Heinz to a “hold” rating in a research report on Friday, August 1st. Finally, DZ Bank upgraded Kraft Heinz from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $29.71.

Insider Transactions at Kraft Heinz

In other Kraft Heinz news, Director Elio Leoni Sceti sold 25,000 shares of the business’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $27.91, for a total transaction of $697,750.00. Following the sale, the director directly owned 40,000 shares of the company’s stock, valued at $1,116,400. The trade was a 38.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is currently owned by company insiders.

Kraft Heinz Price Performance

NASDAQ KHC opened at $25.04 on Friday. The stock has a market capitalization of $29.64 billion, a P/E ratio of -5.58, a P/E/G ratio of 2.93 and a beta of 0.16. Kraft Heinz Company has a 1 year low of $24.85 and a 1 year high of $36.31. The business’s fifty day moving average is $26.78 and its two-hundred day moving average is $27.46. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.66 and a current ratio of 1.07.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Friday, July 8th. The company reported $0.72 earnings per share (EPS) for the quarter. The company had revenue of $6.39 billion for the quarter. Kraft Heinz had a positive return on equity of 7.40% and a negative net margin of 20.83%. On average, research analysts forecast that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, August 29th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend was Friday, August 29th. Kraft Heinz’s payout ratio is -35.63%.

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.