Atria Wealth Solutions Inc. Sells 10,452 Shares of Kraft Heinz Company (NASDAQ:KHC)

Atria Wealth Solutions Inc. cut its stake in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 20.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,740 shares of the company's stock after selling 10,452 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Kraft Heinz were worth $1,240,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of KHC. Rossby Financial LCC purchased a new stake in Kraft Heinz during the 1st quarter worth about $29,000. Wayfinding Financial LLC purchased a new stake in Kraft Heinz during the 1st quarter worth about $33,000. Investment Management Corp VA ADV lifted its holdings in shares of Kraft Heinz by 141.7% in the 1st quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company's stock valued at $35,000 after purchasing an additional 669 shares during the last quarter. Pinney & Scofield Inc. purchased a new stake in shares of Kraft Heinz in the 4th quarter valued at about $38,000. Finally, Abound Wealth Management lifted its holdings in shares of Kraft Heinz by 1,157.0% in the 1st quarter. Abound Wealth Management now owns 1,257 shares of the company's stock valued at $38,000 after purchasing an additional 1,157 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on KHC shares. Wells Fargo & Company upped their price objective on Kraft Heinz from $27.00 to $29.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Mizuho set a $29.00 price target on Kraft Heinz and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Hsbc Global Res upgraded Kraft Heinz to a "hold" rating in a report on Friday, August 1st. The Goldman Sachs Group raised Kraft Heinz from a "sell" rating to a "neutral" rating and upped their target price for the company from $25.00 to $27.00 in a research note on Wednesday, June 25th. Finally, Stifel Nicolaus reduced their target price on Kraft Heinz from $31.00 to $30.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating and eighteen have given a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $30.22.

Insider Activity

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 completion of the transaction, the director 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.35% of the company's stock.

Kraft Heinz Stock Down 1.2%

Shares of Kraft Heinz stock traded down $0.34 on Thursday, hitting $27.68. 12,498,765 shares of the company traded hands, compared to its average volume of 12,481,639. The company has a 50-day moving average price of $26.98 and a 200 day moving average price of $28.43. The company has a quick ratio of 0.66, a current ratio of 1.07 and a debt-to-equity ratio of 0.47. Kraft Heinz Company has a 12-month low of $25.44 and a 12-month high of $36.53. The company has a market cap of $32.76 billion, a PE ratio of -6.16, a PEG ratio of 3.19 and a beta of 0.23.

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

Kraft Heinz Announces Dividend

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

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.