Auto Owners Insurance Co Sells 518,431 Shares of Kraft Heinz Company (NASDAQ:KHC)

Auto Owners Insurance Co decreased its position in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 76.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 161,033 shares of the company's stock after selling 518,431 shares during the period. Auto Owners Insurance Co's holdings in Kraft Heinz were worth $5,404,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Rossby Financial LCC acquired a new stake in Kraft Heinz in the first quarter valued at about $29,000. Wayfinding Financial LLC acquired a new stake in Kraft Heinz in the first quarter valued at about $33,000. Pinney & Scofield Inc. acquired a new stake in Kraft Heinz in the fourth quarter valued at about $38,000. Abound Wealth Management boosted its stake in Kraft Heinz by 1,157.0% in the first quarter. Abound Wealth Management now owns 1,257 shares of the company's stock valued at $38,000 after buying an additional 1,157 shares in the last quarter. Finally, Capital Analysts LLC boosted its stake in Kraft Heinz by 50.5% in the fourth quarter. Capital Analysts LLC now owns 1,507 shares of the company's stock valued at $47,000 after buying an additional 506 shares in the last quarter. Institutional investors own 78.17% of the company's stock.

Insiders Place Their Bets

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 completion of the sale, the director owned 40,000 shares in the company, valued at approximately $1,116,400. This trade represents a 38.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.35% of the company's stock.

Kraft Heinz Stock Performance

NASDAQ:KHC opened at $28.78 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.81 and a current ratio of 1.31. Kraft Heinz Company has a 52-week low of $25.44 and a 52-week high of $36.53. The firm has a market cap of $34.06 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 3.22 and a beta of 0.25. The business's fifty day moving average is $26.68 and its 200 day moving average is $28.60.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.02. Kraft Heinz had a return on equity of 7.37% and a net margin of 10.44%. The business had revenue of $6 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period in the prior year, the company earned $0.69 EPS. The company's quarterly revenue was down 6.4% compared to the same quarter last year. Research analysts predict that Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, May 30th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 5.56%. The ex-dividend date was Friday, May 30th. Kraft Heinz's dividend payout ratio is presently 73.06%.

Analyst Ratings Changes

KHC has been the topic of a number of recent research reports. Stifel Nicolaus cut their price target 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. Citigroup reissued a "sell" rating and set a $27.00 price target (down from $28.00) on shares of Kraft Heinz in a research note on Friday, April 4th. Mizuho set a $29.00 price objective on Kraft Heinz and gave the stock a "neutral" rating in a research report on Wednesday, May 28th. DZ Bank downgraded Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a research report on Friday, May 9th. Finally, Cfra Research downgraded Kraft Heinz from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, April 16th. Three investment analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $30.29.

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.

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