KBC Group NV Decreases Holdings in Kraft Heinz Company $KHC

KBC Group NV decreased its stake in Kraft Heinz Company (NASDAQ:KHC) by 8.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 201,621 shares of the company’s stock after selling 19,270 shares during the quarter. KBC Group NV’s holdings in Kraft Heinz were worth $5,206,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Investment Management Corp VA ADV lifted its stake in Kraft Heinz by 141.7% in the 1st quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company’s stock valued at $35,000 after buying an additional 669 shares in the last quarter. Banque Transatlantique SA purchased a new stake in Kraft Heinz during the 1st quarter worth approximately $40,000. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Kraft Heinz during the second quarter valued at approximately $39,000. Larson Financial Group LLC lifted its position in shares of Kraft Heinz by 52.6% in the first quarter. Larson Financial Group LLC now owns 1,558 shares of the company’s stock valued at $47,000 after acquiring an additional 537 shares in the last quarter. Finally, Hilltop National Bank acquired a new stake in shares of Kraft Heinz in the second quarter worth approximately $41,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Price Performance

Shares of KHC stock opened at $24.85 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66. The company has a market capitalization of $29.41 billion, a PE ratio of -6.66, a price-to-earnings-growth ratio of 2.88 and a beta of 0.16. The firm’s 50-day moving average is $25.47 and its two-hundred day moving average is $26.61. Kraft Heinz Company has a 12 month low of $23.70 and a 12 month high of $33.35.

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

Kraft Heinz Cuts Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on KHC shares. HSBC reduced their price objective on Kraft Heinz from $29.00 to $27.00 in a research note on Thursday, October 30th. Piper Sandler decreased their price target on shares of Kraft Heinz from $30.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. Zacks Research cut shares of Kraft Heinz from a “hold” rating to a “strong sell” rating in a research note on Thursday. Weiss Ratings reiterated a “sell (d)” rating on shares of Kraft Heinz in a report on Wednesday, October 8th. Finally, Hsbc Global Res upgraded Kraft Heinz to a “hold” rating in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $26.58.

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.