Sound View Wealth Advisors Group LLC Decreases Stake in Kraft Heinz Company (NASDAQ:KHC)

Sound View Wealth Advisors Group LLC decreased its position in Kraft Heinz Company (NASDAQ:KHC) by 17.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,565 shares of the company’s stock after selling 2,083 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in Kraft Heinz were worth $291,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of Kraft Heinz by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 19,745,734 shares of the company’s stock worth $604,644,000 after purchasing an additional 595,406 shares during the last quarter. Northern Trust Corp increased its stake in shares of Kraft Heinz by 12.6% during the 4th quarter. Northern Trust Corp now owns 9,289,691 shares of the company’s stock worth $285,286,000 after purchasing an additional 1,039,885 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Kraft Heinz by 23.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,585,167 shares of the company’s stock worth $263,650,000 after purchasing an additional 1,628,516 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Kraft Heinz by 1.3% during the 1st quarter. Bank of New York Mellon Corp now owns 8,171,720 shares of the company’s stock worth $248,665,000 after purchasing an additional 103,548 shares during the last quarter. Finally, Pacer Advisors Inc. increased 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. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Insider Activity

In other news, Director Elio Leoni Sceti sold 25,000 shares of Kraft Heinz stock in a transaction on Friday, July 18th. The shares were sold at an average price of $27.91, for a total transaction of $697,750.00. Following the completion of the sale, the director directly owned 40,000 shares of the company’s stock, valued at approximately $1,116,400. The trade was a 38.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.35% of the company’s stock.

Kraft Heinz Stock Down 0.2%

Shares of NASDAQ:KHC opened at $27.41 on Friday. The firm has a fifty day moving average price of $26.87 and a two-hundred day moving average price of $28.53. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.07 and a quick ratio of 0.81. Kraft Heinz Company has a one year low of $25.44 and a one year high of $36.53. The company has a market cap of $32.44 billion, a price-to-earnings ratio of -6.10, a PEG ratio of 3.21 and a beta of 0.23.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $6.26 billion. During the same period in the previous year, the firm posted $0.78 EPS. The firm’s revenue was down 1.9% compared to the same quarter last year. Analysts anticipate that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Friday, August 29th. Kraft Heinz’s payout ratio is currently -35.63%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on KHC. Cfra Research lowered shares of Kraft Heinz from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, April 16th. Sanford C. Bernstein lowered shares of Kraft Heinz from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $34.00 to $31.00 in a research note on Tuesday, April 22nd. 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 research note on Wednesday, April 30th. DZ Bank lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a research note on Friday, May 9th. Finally, Wells Fargo & Company lifted their price objective on shares of Kraft Heinz from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Monday, July 14th. Three investment analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $30.35.

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.