Midwest Trust Co Buys Shares of 8,975 Kraft Heinz Company $KHC

Midwest Trust Co purchased a new position in shares of Kraft Heinz Company (NASDAQ:KHC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,975 shares of the company’s stock, valued at approximately $232,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Kraft Heinz by 8.5% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,006,959 shares of the company’s stock valued at $51,820,000 after acquiring an additional 157,887 shares during the period. Parkside Financial Bank & Trust raised its holdings in Kraft Heinz by 75.5% during the second quarter. Parkside Financial Bank & Trust now owns 2,788 shares of the company’s stock worth $72,000 after purchasing an additional 1,199 shares during the last quarter. Aviva PLC raised its holdings in Kraft Heinz by 6.6% during the second quarter. Aviva PLC now owns 1,099,314 shares of the company’s stock worth $28,384,000 after purchasing an additional 68,398 shares during the last quarter. Prospera Financial Services Inc boosted its position in Kraft Heinz by 70.2% during the second quarter. Prospera Financial Services Inc now owns 26,617 shares of the company’s stock worth $688,000 after purchasing an additional 10,977 shares in the last quarter. Finally, RWA Wealth Partners LLC grew its holdings in Kraft Heinz by 74.3% in the second quarter. RWA Wealth Partners LLC now owns 90,053 shares of the company’s stock valued at $2,325,000 after purchasing an additional 38,390 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on KHC shares. The Goldman Sachs Group cut their price target on Kraft Heinz from $30.00 to $27.00 in a research note on Thursday, October 30th. Morgan Stanley cut their target price on shares of Kraft Heinz from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Thursday, October 30th. Sanford C. Bernstein lowered their price target on shares of Kraft Heinz from $30.00 to $27.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 28th. DZ Bank raised Kraft Heinz from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Kraft Heinz from $27.00 to $26.00 in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $26.58.

Kraft Heinz Stock Performance

Shares of KHC opened at $24.96 on Friday. Kraft Heinz Company has a 1 year low of $23.70 and a 1 year high of $33.35. The company’s 50 day simple moving average is $25.52 and its 200 day simple moving average is $26.65. The company has a market capitalization of $29.54 billion, a price-to-earnings ratio of -6.69, a PEG ratio of 2.88 and a beta of 0.16. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 1.13.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Friday, July 8th. The company reported $0.72 EPS for the quarter. The firm had revenue of $6.39 billion during the quarter. Kraft Heinz had a negative net margin of 17.35% and a positive return on equity of 7.26%. On average, sell-side analysts predict that Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, November 28th will be issued a $0.40 dividend. The ex-dividend date is Friday, November 28th. This represents a $1.60 annualized dividend and a yield of 6.4%. Kraft Heinz’s payout ratio is -42.90%.

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.