Transcend Capital Advisors LLC Sells 1,748 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Transcend Capital Advisors LLC trimmed its stake in The Kraft Heinz Company (NASDAQ:KHC) by 6.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 26,738 shares of the company’s stock after selling 1,748 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Kraft Heinz were worth $861,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Capital World Investors increased its position in Kraft Heinz by 83.4% during the first quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock valued at $321,388,000 after acquiring an additional 3,961,872 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Kraft Heinz by 346.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,520,006 shares of the company’s stock worth $57,799,000 after buying an additional 1,179,863 shares in the last quarter. Nordea Investment Management AB increased its position in Kraft Heinz by 56.7% in the first quarter. Nordea Investment Management AB now owns 2,840,148 shares of the company’s stock worth $104,929,000 after buying an additional 1,027,636 shares in the last quarter. Swedbank AB purchased a new stake in Kraft Heinz in the first quarter worth about $25,298,000. Finally, Ilex Capital Partners UK LLP increased its position in Kraft Heinz by 34.7% in the first quarter. Ilex Capital Partners UK LLP now owns 2,616,278 shares of the company’s stock worth $96,541,000 after buying an additional 674,436 shares in the last quarter. 78.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Piper Sandler dropped their price target on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, June 20th. Bank of America reduced their price target on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Citigroup reduced their price target on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. JPMorgan Chase & Co. reduced their price objective on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Finally, Barclays raised their price objective on Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Thursday. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.58.

Kraft Heinz Stock Down 3.0 %

Shares of Kraft Heinz stock traded down $1.07 during trading on Monday, reaching $34.99. The company’s stock had a trading volume of 5,578,483 shares, compared to its average volume of 8,052,526. The company has a quick ratio of 0.61, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. The company has a market cap of $42.31 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 3.52 and a beta of 0.53. The Kraft Heinz Company has a 1-year low of $30.68 and a 1-year high of $38.96. The company has a 50-day simple moving average of $33.34 and a two-hundred day simple moving average of $35.28.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The company had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter in the previous year, the firm posted $0.79 EPS. The firm’s revenue was down 3.3% compared to the same quarter last year. As a group, equities analysts forecast that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The company 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 yield of 4.57%. 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.