Gulf International Bank UK Ltd Reduces Stock Position in Kraft Heinz Company (NASDAQ:KHC)

Key Points

• Gulf International Bank UK Ltd has reduced its stake in Kraft Heinz Company (NASDAQ:KHC) by 30.4% in the first quarter, now holding 49,885 shares worth $1,518,000.
• Significant increases in holdings were observed from other institutional investors, including National Pension Service (up 9.3%) and LGT Group Foundation (up 77.5%).
• Kraft Heinz announced a quarterly dividend of $0.40 per share, representing an annual yield of 5.8%, to be paid on September 26th.

Gulf International Bank UK Ltd reduced its position in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 30.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,885 shares of the company's stock after selling 21,829 shares during the period. Gulf International Bank UK Ltd's holdings in Kraft Heinz were worth $1,518,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. National Pension Service raised its stake in Kraft Heinz by 9.3% in the first quarter. National Pension Service now owns 1,954,221 shares of the company's stock worth $59,467,000 after buying an additional 165,986 shares in the last quarter. LGT Group Foundation raised its stake in Kraft Heinz by 77.5% in the first quarter. LGT Group Foundation now owns 34,141 shares of the company's stock worth $1,039,000 after buying an additional 14,906 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Kraft Heinz by 40.3% in the first quarter. Russell Investments Group Ltd. now owns 1,431,864 shares of the company's stock worth $43,571,000 after buying an additional 411,363 shares in the last quarter. Resona Asset Management Co. Ltd. raised its stake in Kraft Heinz by 4.3% in the first quarter. Resona Asset Management Co. Ltd. now owns 387,311 shares of the company's stock worth $11,778,000 after buying an additional 15,996 shares in the last quarter. Finally, Rathbones Group PLC raised its stake in Kraft Heinz by 0.8% in the first quarter. Rathbones Group PLC now owns 56,798 shares of the company's stock worth $1,728,000 after buying an additional 442 shares in the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Kraft Heinz

In related 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 value of $697,750.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.35% of the company's stock.

Kraft Heinz Trading Down 1.3%

NASDAQ:KHC opened at $27.65 on Friday. The company's 50 day moving average price is $27.00 and its 200-day moving average price is $28.42. Kraft Heinz Company has a 52 week low of $25.44 and a 52 week high of $36.53. The company has a quick ratio of 0.66, a current ratio of 1.07 and a debt-to-equity ratio of 0.47. The stock has a market cap of $32.73 billion, a price-to-earnings ratio of -6.16, a PEG ratio of 3.26 and a beta of 0.23.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.69 earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.35 billion for the quarter, compared to analysts' expectations of $6.26 billion. During the same quarter last year, the company posted $0.78 earnings per share. The firm's quarterly revenue was down 1.9% on a year-over-year basis. On average, equities research analysts forecast that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, August 29th will be issued a $0.40 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.60 annualized dividend and a yield of 5.8%. Kraft Heinz's dividend payout ratio (DPR) is currently -35.63%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. UBS Group increased their price target on shares of Kraft Heinz from $29.00 to $30.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Hsbc Global Res raised shares of Kraft Heinz to a "hold" rating in a research note on Friday, August 1st. Wells Fargo & Company raised their target price on shares of Kraft Heinz from $27.00 to $29.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. The Goldman Sachs Group raised shares of Kraft Heinz from a "sell" rating to a "neutral" rating and raised their target price for the company from $25.00 to $27.00 in a research note on Wednesday, June 25th. Finally, Sanford C. Bernstein downgraded shares of Kraft Heinz from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $34.00 to $31.00 in a research note on Tuesday, April 22nd. Three analysts have rated the stock with a sell rating and eighteen have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $30.22.

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.

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