Capital International Investors Sells 8,720,207 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Capital International Investors cut its position in The Kraft Heinz Company (NASDAQ:KHC) by 36.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,225,104 shares of the company’s stock after selling 8,720,207 shares during the quarter. Capital International Investors owned about 1.25% of Kraft Heinz worth $561,806,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. NBT Bank N A NY boosted its holdings in shares of Kraft Heinz by 2.2% in the 1st quarter. NBT Bank N A NY now owns 12,785 shares of the company’s stock worth $472,000 after purchasing an additional 270 shares in the last quarter. Welch Group LLC boosted its holdings in shares of Kraft Heinz by 1.9% in the 1st quarter. Welch Group LLC now owns 14,868 shares of the company’s stock worth $549,000 after purchasing an additional 272 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Kraft Heinz by 13.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 2,423 shares of the company’s stock worth $89,000 after purchasing an additional 282 shares in the last quarter. Archer Investment Corp boosted its holdings in shares of Kraft Heinz by 2.0% in the 4th quarter. Archer Investment Corp now owns 14,709 shares of the company’s stock worth $544,000 after purchasing an additional 294 shares in the last quarter. Finally, Ingalls & Snyder LLC boosted its holdings in shares of Kraft Heinz by 3.1% in the 4th quarter. Ingalls & Snyder LLC now owns 10,005 shares of the company’s stock worth $370,000 after purchasing an additional 300 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.

Insider Transactions at Kraft Heinz

In other news, insider Lande Rashida La sold 10,140 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $35.95, for a total value of $364,533.00. Following the completion of the transaction, the insider now owns 158,266 shares of the company’s stock, valued at approximately $5,689,662.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

KHC has been the subject of a number of research reports. Barclays cut their price objective on Kraft Heinz from $36.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft increased their target price on Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Piper Sandler dropped their target price on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, June 20th. Bank of America dropped their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Finally, Wells Fargo & Company dropped their target price on Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating for the company in a report on Thursday, June 27th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.83.

Kraft Heinz Trading Up 0.2 %

KHC traded up $0.07 during midday trading on Friday, reaching $33.36. 6,048,313 shares of the company’s stock traded hands, compared to its average volume of 7,885,722. The firm has a fifty day moving average of $33.46 and a two-hundred day moving average of $35.42. The stock has a market capitalization of $40.51 billion, a price-to-earnings ratio of 14.57, a P/E/G ratio of 3.32 and a beta of 0.53. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.09 and a quick ratio of 0.61. The Kraft Heinz Company has a 52 week low of $30.68 and a 52 week high of $38.96.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. The business had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.43 billion. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. Kraft Heinz’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 EPS. On average, equities analysts anticipate that The Kraft Heinz Company will post 2.99 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 6th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.80%. The ex-dividend date was Thursday, June 6th. Kraft Heinz’s dividend payout ratio is currently 69.87%.

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.