Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Prudential PLC

Key Points

• Prudential PLC reduced its holdings in Kraft Heinz by 77.1%, now owning 32,829 shares worth approximately $999,000 after selling 110,542 shares during the first quarter.
• Several institutional investors increased their stakes in Kraft Heinz, with Versant Capital Management boosting its holdings by 493.4%, now owning 12,354 shares valued at $376,000.
• Kraft Heinz has announced a quarterly dividend of $0.40, yielding 5.8%, with the payment scheduled for September 26th to shareholders of record on August 29th.

Prudential PLC trimmed its holdings in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 77.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,829 shares of the company's stock after selling 110,542 shares during the period. Prudential PLC's holdings in Kraft Heinz were worth $999,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc boosted its holdings in shares of Kraft Heinz by 493.4% during the first quarter. Versant Capital Management Inc now owns 12,354 shares of the company's stock valued at $376,000 after acquiring an additional 10,272 shares during the period. D.A. Davidson & CO. boosted its holdings in shares of Kraft Heinz by 7.8% during the first quarter. D.A. Davidson & CO. now owns 90,252 shares of the company's stock valued at $2,746,000 after acquiring an additional 6,551 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of 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 valued at $248,665,000 after acquiring an additional 103,548 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Kraft Heinz by 28.1% during the first quarter. GAMMA Investing LLC now owns 15,794 shares of the company's stock valued at $481,000 after acquiring an additional 3,468 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Kraft Heinz by 58.3% during the first quarter. Farther Finance Advisors LLC now owns 22,111 shares of the company's stock valued at $671,000 after acquiring an additional 8,144 shares during the period. Institutional investors and hedge funds own 78.17% of the company's stock.

Analyst Upgrades and Downgrades

KHC has been the subject of several research analyst reports. Argus reaffirmed a "hold" rating and issued a $28.02 price objective on shares of Kraft Heinz in a report on Thursday. Mizuho set a $29.00 price objective on shares of Kraft Heinz and gave the stock a "neutral" rating in a report on Wednesday, May 28th. UBS Group upped their price objective on shares of Kraft Heinz from $29.00 to $30.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Stifel Nicolaus reduced their price objective on shares of Kraft Heinz from $31.00 to $30.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Finally, DZ Bank downgraded shares of Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a report on Friday, May 9th. Three research analysts have rated the stock with a sell rating and eighteen have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $30.22.

Insider Activity at Kraft Heinz

In other Kraft Heinz news, Director Elio Leoni Sceti sold 25,000 shares of the firm's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $27.91, for a total value of $697,750.00. Following the completion of the transaction, 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 filing with the SEC, which is available through this link. 0.35% of the stock is currently owned by insiders.

Kraft Heinz Stock Performance

Shares of KHC opened at $27.67 on Friday. Kraft Heinz Company has a one year low of $25.44 and a one year high of $36.53. The company has a 50-day moving average of $27.02 and a two-hundred day moving average of $28.40. The stock has a market cap 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 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 (NASDAQ:KHC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.69 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 during the quarter, compared to analysts' expectations of $6.26 billion. During the same period last year, the company posted $0.78 earnings per share. The business's revenue for the quarter was down 1.9% on a year-over-year basis. 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 company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, August 29th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Friday, August 29th. Kraft Heinz's dividend payout ratio (DPR) is presently -35.63%.

Kraft Heinz Company 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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