Clark Estates Inc. NY Sells 22,576 Shares of Kraft Heinz Company (NASDAQ:KHC)

Clark Estates Inc. NY lessened its stake in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 27.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,124 shares of the company's stock after selling 22,576 shares during the quarter. Clark Estates Inc. NY's holdings in Kraft Heinz were worth $1,799,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Rossby Financial LCC purchased a new position in shares of Kraft Heinz in the 1st quarter valued at $29,000. Wayfinding Financial LLC bought a new stake in shares of Kraft Heinz in the 1st quarter worth about $33,000. Investment Management Corp VA ADV increased its position 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 worth $35,000 after purchasing an additional 669 shares during the last quarter. Pinney & Scofield Inc. bought a new stake in shares of Kraft Heinz in the 4th quarter worth about $38,000. Finally, Abound Wealth Management increased its position 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 worth $38,000 after purchasing an additional 1,157 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company's stock.

Kraft Heinz Price Performance

Shares of NASDAQ KHC traded down $0.05 during midday trading on Friday, reaching $27.41. The company's stock had a trading volume of 16,933,075 shares, compared to its average volume of 12,534,841. The company has a current ratio of 1.07, a quick ratio of 0.81 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average price of $26.84 and a 200 day moving average price of $28.54. Kraft Heinz Company has a one year low of $25.44 and a one year high of $36.53. The company has a market cap of $32.44 billion, a price-to-earnings ratio of -6.10, a price-to-earnings-growth ratio of 3.34 and a beta of 0.25.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $6.26 billion. During the same quarter in the previous year, the business earned $0.78 earnings per share. The firm's revenue was down 1.9% compared to the same quarter last year. On average, equities research analysts expect that Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Dividend Announcement

The business also recently disclosed 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 of this dividend is Friday, August 29th. This represents a $1.60 dividend on an annualized basis and a yield of 5.8%. Kraft Heinz's payout ratio is presently -35.63%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Citigroup reissued a "sell" rating and issued a $27.00 target price (down previously from $28.00) on shares of Kraft Heinz in a research report on Friday, April 4th. The Goldman Sachs Group raised shares of Kraft Heinz from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $25.00 to $27.00 in a research report on Wednesday, June 25th. Sanford C. Bernstein lowered shares of Kraft Heinz from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $34.00 to $31.00 in a report on Tuesday, April 22nd. DZ Bank lowered shares of Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 price target for the company. in a report on Friday, May 9th. Finally, UBS Group lifted their price target on shares of Kraft Heinz from $29.00 to $30.00 and gave the company a "neutral" rating in a report on Thursday. Three research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $30.35.

Insider Buying and Selling

In related news, Director Elio Leoni Sceti sold 25,000 shares of the business's stock in a transaction that occurred 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 transaction, the director directly owned 40,000 shares of the company's stock, valued at approximately $1,116,400. The trade was a 38.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.35% of the company's stock.

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.