Kraft Heinz Company (NASDAQ:KHC) Shares Sold by LSV Asset Management

Key Points

• LSV Asset Management reduced its stake in Kraft Heinz Company by 3.3%, now holding approximately 8.86 million shares valued at $269.74 million.
• The latest earnings report revealed Kraft Heinz achieved $0.69 EPS, surpassing analysts' expectations, though revenue declined 1.9% year-over-year.
• Kraft Heinz announced a quarterly dividend of $0.40 per share, representing a 5.8% dividend yield for shareholders, payable on September 26th.

LSV Asset Management lessened its stake in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,864,363 shares of the company's stock after selling 302,073 shares during the period. LSV Asset Management owned 0.75% of Kraft Heinz worth $269,743,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of Kraft Heinz by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 19,745,734 shares of the company's stock worth $604,644,000 after purchasing an additional 595,406 shares during the last quarter. Northern Trust Corp increased its stake in Kraft Heinz by 12.6% during the fourth quarter. Northern Trust Corp now owns 9,289,691 shares of the company's stock worth $285,286,000 after purchasing an additional 1,039,885 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Kraft Heinz by 23.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,585,167 shares of the company's stock worth $263,650,000 after purchasing an additional 1,628,516 shares during the period. Bank of New York Mellon Corp increased its stake in Kraft Heinz by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 8,171,720 shares of the company's stock worth $248,665,000 after purchasing an additional 103,548 shares during the period. Finally, Pacer Advisors Inc. increased its stake in Kraft Heinz by 4,390.7% during the first quarter. Pacer Advisors Inc. now owns 7,444,062 shares of the company's stock worth $226,523,000 after purchasing an additional 7,278,295 shares during the period. Hedge funds and other institutional investors own 78.17% of the company's stock.

Kraft Heinz Stock Performance

Shares of KHC traded down $0.05 during mid-day trading on Friday, reaching $27.41. 16,933,701 shares of the company's stock were exchanged, compared to its average volume of 18,148,692. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.07 and a quick ratio of 0.66. The stock has a market capitalization of $32.44 billion, a PE ratio of -6.10, a price-to-earnings-growth ratio of 3.20 and a beta of 0.23. The business's fifty day simple moving average is $26.87 and its 200-day simple moving average is $28.53. Kraft Heinz Company has a 52-week low of $25.44 and a 52-week high of $36.53.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.05. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.26 billion. Kraft Heinz had a negative net margin of 20.83% and a positive return on equity of 7.40%. The company's revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the firm posted $0.78 earnings per share. On average, equities research analysts expect that Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

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

Insider Buying and Selling at Kraft Heinz

In related news, Director Elio Leoni Sceti sold 25,000 shares of the stock in a transaction on Friday, July 18th. The stock was 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 of the company's stock, valued at $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 Securities & Exchange Commission, which is available through this link. 0.35% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on KHC. DZ Bank lowered shares of Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 price target on the stock. in a research note on Friday, May 9th. Wells Fargo & Company boosted their price target on shares of Kraft Heinz from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Stifel Nicolaus cut their target price on shares of 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 shares of Kraft Heinz from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $34.00 to $31.00 in a research note on Tuesday, April 22nd. Finally, Mizuho set a $29.00 target price on shares of Kraft Heinz and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. Three investment analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $30.35.

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.