Birmingham Capital Management Co. Inc. AL Lowers Stock Position in Kraft Heinz Company $KHC

Key Points

• Birmingham Capital Management Co. Inc. AL reduced its stake in Kraft Heinz by 38.9% in the second quarter, selling 22,810 shares and ending with holdings worth $926,000.
• Kraft Heinz received mixed ratings from analysts, with one strong buy, sixteen holds, and three sells, and a consensus price target of $28.65.
• The company declared a quarterly dividend of $0.40 per share, reflecting an annualized dividend yield of 6.3%.

Birmingham Capital Management Co. Inc. AL cut its holdings in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 38.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,845 shares of the company's stock after selling 22,810 shares during the period. Birmingham Capital Management Co. Inc. AL's holdings in Kraft Heinz were worth $926,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Rossby Financial LCC purchased a new position in shares of Kraft Heinz during the first quarter worth approximately $29,000. Wayfinding Financial LLC acquired a new stake in shares of Kraft Heinz during the first quarter worth $33,000. Investment Management Corp VA ADV lifted its holdings in shares of Kraft Heinz by 141.7% during the first 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 during the period. Banque Transatlantique SA acquired a new stake in shares of Kraft Heinz during the first quarter worth $40,000. Finally, Hilltop National Bank acquired a new stake in shares of Kraft Heinz during the second quarter worth $41,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KHC has been the subject of several recent research reports. DZ Bank raised Kraft Heinz from a "hold" rating to a "strong-buy" rating in a report on Friday, September 19th. Deutsche Bank Aktiengesellschaft decreased their price target on Kraft Heinz from $28.00 to $27.00 and set a "hold" rating for the company in a report on Monday, October 13th. UBS Group decreased their price target on Kraft Heinz from $28.00 to $27.00 and set a "neutral" rating for the company in a report on Wednesday, October 8th. Wells Fargo & Company decreased their price target on Kraft Heinz from $29.00 to $27.00 and set an "equal weight" rating for the company in a report on Wednesday, September 3rd. Finally, Morgan Stanley decreased their price target on Kraft Heinz from $29.00 to $28.00 in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, Kraft Heinz presently has an average rating of "Reduce" and a consensus price target of $28.65.

Kraft Heinz Price Performance

Kraft Heinz stock opened at $25.52 on Monday. Kraft Heinz Company has a one year low of $24.80 and a one year high of $36.31. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.66 and a current ratio of 1.07. The business has a fifty day moving average of $26.54 and a two-hundred day moving average of $27.22. The company has a market cap of $30.21 billion, a P/E ratio of -5.68, a price-to-earnings-growth ratio of 2.99 and a beta of 0.16.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its earnings results on Friday, July 8th. The company reported $0.72 EPS for the quarter. The company had revenue of $6.39 billion during the quarter. Kraft Heinz had a positive return on equity of 7.40% and a negative net margin of 20.83%. As a group, analysts predict that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, August 29th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend was Friday, August 29th. Kraft Heinz's payout ratio is -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.

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