Exchange Traded Concepts LLC Sells 822,725 Shares of Kraft Heinz Company $KHC

Exchange Traded Concepts LLC reduced its stake in Kraft Heinz Company (NASDAQ:KHC) by 95.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,244 shares of the company’s stock after selling 822,725 shares during the period. Exchange Traded Concepts LLC’s holdings in Kraft Heinz were worth $962,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in Kraft Heinz by 26.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 151,136 shares of the company’s stock worth $4,029,000 after buying an additional 31,199 shares during the period. Mn Services Vermogensbeheer B.V. grew its position in Kraft Heinz by 7.9% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 335,000 shares of the company’s stock worth $8,650,000 after purchasing an additional 24,400 shares during the period. Wedmont Private Capital purchased a new stake in Kraft Heinz in the 2nd quarter worth approximately $269,000. Swedbank AB boosted its stake in shares of Kraft Heinz by 10.5% during the 2nd quarter. Swedbank AB now owns 970,909 shares of the company’s stock worth $25,069,000 after acquiring an additional 92,225 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft purchased a new position in shares of Kraft Heinz during the 2nd quarter valued at approximately $557,000. Institutional investors own 78.17% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Hsbc Global Res upgraded Kraft Heinz to a “hold” rating in a research report on Friday, August 1st. DZ Bank upgraded shares of Kraft Heinz from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. UBS Group set a $28.00 price target on shares of Kraft Heinz and gave the company a “neutral” rating in a research report on Thursday, September 4th. Wells Fargo & Company dropped their price target on shares of Kraft Heinz from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. assumed coverage on shares of Kraft Heinz in a report on Wednesday, August 20th. They issued a “neutral” rating and a $27.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Kraft Heinz has an average rating of “Hold” and a consensus target price of $29.76.

Insider Buying and Selling at Kraft Heinz

In other news, Director Elio Leoni Sceti sold 25,000 shares of the company’s 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 transaction, the director directly owned 40,000 shares of the company’s stock, valued at $1,116,400. This represents a 38.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.35% of the stock is currently owned by company insiders.

Kraft Heinz Stock Performance

Shares of Kraft Heinz stock opened at $26.56 on Wednesday. The firm’s fifty day simple moving average is $27.37 and its 200-day simple moving average is $27.81. The stock has a market capitalization of $31.44 billion, a price-to-earnings ratio of -5.92, a PEG ratio of 3.08 and a beta of 0.23. Kraft Heinz Company has a 12 month low of $25.44 and a 12 month high of $36.31. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.07 and a quick ratio of 0.66.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, July 30th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.26 billion. Kraft Heinz had a negative net margin of 20.83% and a positive return on equity of 7.40%. The company’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 EPS. Kraft Heinz has set its FY 2025 guidance at 2.510-2.670 EPS. As a group, equities analysts forecast that Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, August 29th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Friday, August 29th. Kraft Heinz’s payout ratio is currently -35.63%.

Kraft Heinz 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.