Affinity Investment Advisors LLC Has $344,000 Holdings in Kraft Heinz Company (NASDAQ:KHC)

Key Points

• Affinity Investment Advisors LLC significantly reduced its stake in Kraft Heinz Company by 62.6%, holding 11,314 shares worth approximately $344,000 after selling 18,970 shares in the first quarter.
• Kraft Heinz's recent quarterly earnings report indicated earnings per share of $0.69, surpassing the consensus estimate of $0.64, while revenue also exceeded expectations at $6.35 billion.
• The company has announced a quarterly dividend of $0.40 per share, with an annualized yield of 5.8%, illustrating its commitment to returning value to shareholders despite a negative margin.

Affinity Investment Advisors LLC cut its holdings in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 62.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,314 shares of the company's stock after selling 18,970 shares during the quarter. Affinity Investment Advisors LLC's holdings in Kraft Heinz were worth $344,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of KHC. Rossby Financial LCC acquired a new position in Kraft Heinz in the 1st quarter worth about $29,000. Wayfinding Financial LLC acquired a new position in Kraft Heinz in the 1st quarter worth about $33,000. Investment Management Corp VA ADV increased its holdings in Kraft Heinz by 141.7% in the 1st quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company's stock worth $35,000 after purchasing an additional 669 shares in the last quarter. Pinney & Scofield Inc. acquired a new position in Kraft Heinz in the 4th quarter worth about $38,000. Finally, Abound Wealth Management increased its holdings in Kraft Heinz by 1,157.0% in the 1st quarter. Abound Wealth Management now owns 1,257 shares of the company's stock worth $38,000 after purchasing an additional 1,157 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KHC has been the subject of a number of recent research reports. Hsbc Global Res raised Kraft Heinz to a "hold" rating in a report on Friday, August 1st. Stifel Nicolaus lowered their target price on Kraft Heinz from $31.00 to $30.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Sanford C. Bernstein cut Kraft Heinz from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $34.00 to $31.00 in a report on Tuesday, April 22nd. Mizuho set a $29.00 price target on Kraft Heinz and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Finally, UBS Group upped their price target on Kraft Heinz from $29.00 to $30.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Three research analysts have rated the stock with a sell rating and seventeen have issued a hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $30.35.

Kraft Heinz Stock Up 0.1%

Shares of Kraft Heinz stock opened at $27.67 on Friday. Kraft Heinz Company has a one year low of $25.44 and a one year high of $36.53. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.07 and a quick ratio of 0.66. The stock's 50-day moving average is $27.02 and its 200 day moving average is $28.40. The firm has a market cap of $32.75 billion, a price-to-earnings ratio of -6.16, a PEG ratio of 3.22 and a beta of 0.23.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.64 by $0.05. Kraft Heinz had a positive return on equity of 7.40% and a negative net margin of 20.83%. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same quarter in the prior year, the company earned $0.78 EPS. The firm's revenue for the quarter was down 1.9% compared to the same quarter last year. Equities research analysts anticipate that Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, August 29th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, August 29th. This represents a $1.60 annualized dividend and a dividend yield of 5.8%. Kraft Heinz's dividend payout ratio is presently -35.63%.

Insider Activity at Kraft Heinz

In other Kraft Heinz news, Director Elio Leoni Sceti sold 25,000 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $27.91, for a total value of $697,750.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.35% of the stock is currently owned by insiders.

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.

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