Midwest Trust Co Takes $232,000 Position in Kraft Heinz Company $KHC

Midwest Trust Co acquired a new position in shares of Kraft Heinz Company (NASDAQ:KHC) in the second quarter, HoldingsChannel reports. The fund acquired 8,975 shares of the company’s stock, valued at approximately $232,000.

A number of other institutional investors have also recently added to or reduced their stakes in KHC. Meeder Advisory Services Inc. raised its holdings in shares of Kraft Heinz by 2.7% in the 1st quarter. Meeder Advisory Services Inc. now owns 15,091 shares of the company’s stock worth $459,000 after purchasing an additional 393 shares during the period. one8zero8 LLC increased its position in Kraft Heinz by 5.5% during the 1st quarter. one8zero8 LLC now owns 7,964 shares of the company’s stock worth $242,000 after purchasing an additional 414 shares in the last quarter. Winch Advisory Services LLC raised its holdings in Kraft Heinz by 18.3% in the first quarter. Winch Advisory Services LLC now owns 2,691 shares of the company’s stock valued at $82,000 after buying an additional 417 shares during the period. IFP Advisors Inc lifted its position in Kraft Heinz by 8.9% during the first quarter. IFP Advisors Inc now owns 5,115 shares of the company’s stock valued at $157,000 after buying an additional 420 shares in the last quarter. Finally, Rathbones Group PLC grew its stake in Kraft Heinz by 0.8% during the first quarter. Rathbones Group PLC now owns 56,798 shares of the company’s stock worth $1,728,000 after buying an additional 442 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on KHC. Barclays cut their target price on shares of Kraft Heinz from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 30th. Wells Fargo & Company cut their price objective on Kraft Heinz from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 30th. HSBC decreased their target price on Kraft Heinz from $29.00 to $27.00 in a research report on Thursday, October 30th. Mizuho dropped their target price on Kraft Heinz from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Tuesday, October 28th. Finally, Piper Sandler reduced their price target on Kraft Heinz from $30.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $26.58.

Kraft Heinz Stock Up 0.8%

Shares of NASDAQ:KHC opened at $24.96 on Friday. The firm has a market cap of $29.54 billion, a PE ratio of -6.69, a price-to-earnings-growth ratio of 2.88 and a beta of 0.16. The company has a fifty day simple moving average of $25.52 and a 200 day simple moving average of $26.65. 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 12-month low of $23.70 and a 12-month high of $33.35.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Friday, July 8th. The company reported $0.72 EPS for the quarter. The firm had revenue of $6.39 billion for the quarter. Kraft Heinz had a negative net margin of 17.35% and a positive return on equity of 7.26%. On average, equities research analysts anticipate that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, November 28th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date is Friday, November 28th. Kraft Heinz’s dividend payout ratio (DPR) is -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.