Edgar Lomax Co. VA Trims Stock Holdings in Kraft Heinz Company $KHC

Key Points

• Edgar Lomax Co. VA has significantly reduced its stake in Kraft Heinz Company, trimming its holdings by 76.6% to 164,765 shares, valued at around $5 million.
• The company's latest earnings showed a profit of $0.69 per share, exceeding expectations, but revenue fell by 1.9% compared to last year.
• Kraft Heinz plans to pay a quarterly dividend of $0.40 on September 26th, yielding approximately 5.8%, with an ex-dividend date of August 29th.

Edgar Lomax Co. VA decreased its stake in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 76.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 164,765 shares of the company's stock after selling 539,065 shares during the period. Edgar Lomax Co. VA's holdings in Kraft Heinz were worth $5,014,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Hara Capital LLC boosted its position in Kraft Heinz by 61.9% during the fourth quarter. Hara Capital LLC now owns 1,700 shares of the company's stock valued at $52,000 after purchasing an additional 650 shares during the last quarter. CreativeOne Wealth LLC raised its stake in shares of Kraft Heinz by 29.1% during the 4th quarter. CreativeOne Wealth LLC now owns 8,490 shares of the company's stock worth $261,000 after purchasing an additional 1,914 shares in the last quarter. United Capital Financial Advisors LLC raised its stake in shares of Kraft Heinz by 108.1% during the 4th quarter. United Capital Financial Advisors LLC now owns 22,012 shares of the company's stock worth $676,000 after purchasing an additional 11,436 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Kraft Heinz by 36.4% during the 4th quarter. NewEdge Advisors LLC now owns 69,732 shares of the company's stock worth $2,141,000 after purchasing an additional 18,593 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Kraft Heinz by 99.1% in the fourth quarter. Marshall Wace LLP now owns 28,469 shares of the company's stock worth $874,000 after buying an additional 14,169 shares during the last quarter. Institutional investors own 78.17% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Hsbc Global Res raised Kraft Heinz to a "hold" rating in a research report on Friday, August 1st. Stifel Nicolaus lowered their price objective 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. Sanford C. Bernstein lowered Kraft Heinz from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $34.00 to $31.00 in a research note on Tuesday, April 22nd. The Goldman Sachs Group upgraded Kraft Heinz from a "sell" rating to a "neutral" rating and upped their price objective for the company from $25.00 to $27.00 in a research note on Wednesday, June 25th. Finally, Wells Fargo & Company increased their price target on Kraft Heinz from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Three equities research analysts have rated the stock with a sell rating and seventeen have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $30.35.

Kraft Heinz Price Performance

Shares of NASDAQ KHC opened at $27.67 on Monday. The stock has a market capitalization of $32.75 billion, a price-to-earnings ratio of -6.16, a PEG ratio of 3.22 and a beta of 0.23. The business has a 50-day moving average of $27.02 and a 200-day moving average of $28.38. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.07 and a quick ratio of 0.66. Kraft Heinz Company has a fifty-two week low of $25.44 and a fifty-two week high of $36.53.

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

Kraft Heinz Announces Dividend

The company also recently announced 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 yield of 5.8%. The ex-dividend date is Friday, August 29th. Kraft Heinz's dividend payout ratio (DPR) is -35.63%.

Insider Transactions at Kraft Heinz

In other Kraft Heinz news, Director Elio Leoni Sceti sold 25,000 shares of the firm'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 completion of the sale, the director directly owned 40,000 shares in the company, valued at $1,116,400. This trade represents a 38.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.35% of the company's stock.

About Kraft Heinz

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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