Kraft Heinz Co (NASDAQ:KHC) Stock Position Reduced by Sciencast Management LP

Sciencast Management LP cut its stake in shares of Kraft Heinz Co (NASDAQ:KHC) by 53.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,908 shares of the company’s stock after selling 25,560 shares during the period. Sciencast Management LP’s holdings in Kraft Heinz were worth $729,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in KHC. Advisor Group Holdings Inc. bought a new stake in Kraft Heinz in the first quarter worth approximately $6,023,000. Aperio Group LLC grew its position in Kraft Heinz by 16.5% in the first quarter. Aperio Group LLC now owns 457,266 shares of the company’s stock worth $11,313,000 after acquiring an additional 64,639 shares in the last quarter. Texas Permanent School Fund grew its position in Kraft Heinz by 3.3% in the first quarter. Texas Permanent School Fund now owns 113,229 shares of the company’s stock worth $2,801,000 after acquiring an additional 3,573 shares in the last quarter. Raymond James Trust N.A. grew its position in Kraft Heinz by 11.2% in the second quarter. Raymond James Trust N.A. now owns 19,944 shares of the company’s stock worth $636,000 after acquiring an additional 2,004 shares in the last quarter. Finally, Chicago Equity Partners LLC bought a new stake in Kraft Heinz in the first quarter worth approximately $586,000. 57.72% of the stock is currently owned by hedge funds and other institutional investors.

KHC opened at $34.38 on Friday. The firm’s 50-day simple moving average is $32.93 and its 200-day simple moving average is $29.36. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.12 and a current ratio of 1.09. Kraft Heinz Co has a twelve month low of $19.99 and a twelve month high of $35.87. The firm has a market cap of $42.02 billion, a price-to-earnings ratio of -229.20, a PEG ratio of 2.36 and a beta of 1.01.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Thursday, July 30th. The company reported $0.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.15. Kraft Heinz had a negative net margin of 0.76% and a positive return on equity of 6.68%. The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.54 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kraft Heinz Co will post 2.43 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, August 28th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date is Thursday, August 27th. Kraft Heinz’s dividend payout ratio is currently 56.14%.

Several analysts have commented on the stock. Barclays reissued a “hold” rating and issued a $36.00 target price on shares of Kraft Heinz in a research report on Sunday, July 19th. Jefferies Financial Group boosted their price objective on shares of Kraft Heinz from $32.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, July 27th. Goldman Sachs Group cut shares of Kraft Heinz from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $32.00 to $30.00 in a research note on Monday, June 22nd. Piper Sandler upgraded shares of Kraft Heinz from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $30.00 to $39.00 in a research note on Tuesday. Finally, Stifel Nicolaus boosted their price objective on shares of Kraft Heinz from $30.00 to $33.00 and gave the stock a “hold” rating in a research note on Friday, May 1st. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $32.95.

Kraft Heinz Profile

The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.

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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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