Kraft Heinz Company $KHC Shares Sold by Ritholtz Wealth Management

Key Points

• Ritholtz Wealth Management reduced its stake in Kraft Heinz Company by 48%, owning 16,539 shares post-sale, valued at approximately $427,000 as of the latest SEC filing.
• Several other hedge funds have also adjusted their positions in Kraft Heinz, with 78.17% of the stock currently held by institutional investors and hedge funds.
• Analysts maintain a consensus rating of "Reduce" for Kraft Heinz, with an average target price set at $28.65, reflecting mixed sentiments about the company's future performance.

Ritholtz Wealth Management cut its holdings in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 48.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,539 shares of the company's stock after selling 15,253 shares during the period. Ritholtz Wealth Management's holdings in Kraft Heinz were worth $427,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Rossby Financial LCC acquired a new position in Kraft Heinz in the first quarter worth about $29,000. Wayfinding Financial LLC acquired a new position in Kraft Heinz in the first quarter worth about $33,000. Investment Management Corp VA ADV grew its stake in Kraft Heinz by 141.7% in 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 in the last quarter. Banque Transatlantique SA acquired a new position in Kraft Heinz in the first quarter worth about $40,000. Finally, FSC Wealth Advisors LLC grew its stake in Kraft Heinz by 1,245.6% in the first quarter. FSC Wealth Advisors LLC now owns 1,534 shares of the company's stock worth $47,000 after purchasing an additional 1,420 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KHC has been the subject of a number of research reports. Weiss Ratings reiterated a "sell (d)" rating on shares of Kraft Heinz in a research note on Wednesday, October 8th. Stifel Nicolaus decreased their price target on Kraft Heinz from $30.00 to $28.00 and set a "hold" rating for the company in a research note on Wednesday, September 3rd. Jefferies Financial Group decreased their target price on Kraft Heinz from $28.00 to $24.00 and set a "hold" rating for the company in a research note on Wednesday, October 15th. Barclays decreased their target price on Kraft Heinz from $29.00 to $26.00 and set an "equal weight" rating for the company in a research note on Friday, October 10th. Finally, JPMorgan Chase & Co. assumed coverage on Kraft Heinz in a research note on Wednesday, August 20th. They issued a "neutral" rating and a $27.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $28.65.

Kraft Heinz Stock Performance

KHC opened at $25.52 on Monday. The business's 50 day moving average is $26.54 and its 200-day moving average is $27.22. The stock has a market cap of $30.21 billion, a PE ratio of -5.68, a price-to-earnings-growth ratio of 2.99 and a beta of 0.16. The company has a current ratio of 1.07, a quick ratio of 0.66 and a debt-to-equity ratio of 0.47. Kraft Heinz Company has a twelve month low of $24.80 and a twelve month high of $36.31.

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

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, August 29th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis 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%.

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.

Want to see what other hedge funds are holding KHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kraft Heinz Company (NASDAQ:KHC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.