WBI Investments LLC Sells 27,746 Shares of Kraft Heinz Company $KHC

WBI Investments LLC cut its holdings in Kraft Heinz Company (NASDAQ:KHC) by 43.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,562 shares of the company’s stock after selling 27,746 shares during the quarter. WBI Investments LLC’s holdings in Kraft Heinz were worth $944,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in Kraft Heinz by 12.7% during the first quarter. Vanguard Group Inc. now owns 101,980,834 shares of the company’s stock valued at $3,103,277,000 after buying an additional 11,472,071 shares during the period. Geode Capital Management LLC increased its holdings in shares of Kraft Heinz by 14.7% in the 2nd quarter. Geode Capital Management LLC now owns 26,446,203 shares of the company’s stock valued at $681,663,000 after acquiring an additional 3,392,470 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Kraft Heinz by 22.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,480,889 shares of the company’s stock valued at $318,933,000 after acquiring an additional 1,895,722 shares during the period. Nordea Investment Management AB raised its position in shares of Kraft Heinz by 11.1% in the 2nd quarter. Nordea Investment Management AB now owns 7,820,516 shares of the company’s stock worth $201,300,000 after acquiring an additional 778,744 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake in shares of Kraft Heinz by 4,390.7% during the 1st 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 last quarter. Institutional investors own 78.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KHC. UBS Group cut their target price on Kraft Heinz from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. DZ Bank raised shares of Kraft Heinz from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Jefferies Financial Group reduced their price objective on shares of Kraft Heinz from $28.00 to $24.00 and set a “hold” rating for the company in a research note on Wednesday, October 15th. Zacks Research downgraded shares of Kraft Heinz from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 13th. Finally, Evercore ISI cut their price target on shares of Kraft Heinz from $30.00 to $28.00 and set an “in-line” rating on the stock in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $26.58.

Kraft Heinz Stock Down 1.4%

NASDAQ:KHC opened at $24.49 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46. Kraft Heinz Company has a twelve month low of $23.70 and a twelve month high of $33.35. The company has a market cap of $28.99 billion, a PE ratio of -6.57, a P/E/G ratio of 2.88 and a beta of 0.16. The company’s 50 day moving average is $25.42 and its two-hundred day moving average is $26.56.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Friday, July 8th. The company reported $0.72 earnings per share (EPS) for the quarter. The business 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%. Analysts anticipate that Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, November 28th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.60 dividend on an annualized basis and a yield of 6.5%. Kraft Heinz’s payout ratio is currently -42.90%.

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.