Kraft Heinz Company $KHC Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership trimmed its stake in shares of Kraft Heinz Company (NASDAQ:KHC) by 10.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,364,134 shares of the company’s stock after selling 815,201 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.62% of Kraft Heinz worth $190,142,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its position in shares of Kraft Heinz by 70.4% during the 1st quarter. Federated Hermes Inc. now owns 5,475 shares of the company’s stock valued at $167,000 after acquiring an additional 2,262 shares during the period. TIAA Trust National Association grew its holdings in Kraft Heinz by 46.7% in the first quarter. TIAA Trust National Association now owns 13,565 shares of the company’s stock valued at $413,000 after purchasing an additional 4,320 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Kraft Heinz by 28.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 266,264 shares of the company’s stock worth $8,102,000 after buying an additional 58,630 shares during the period. Raiffeisen Bank International AG grew its holdings in shares of Kraft Heinz by 42.7% during the 1st quarter. Raiffeisen Bank International AG now owns 15,543 shares of the company’s stock worth $471,000 after purchasing an additional 4,654 shares during the period. Finally, Empower Advisory Group LLC raised its stake in shares of Kraft Heinz by 10.4% in the 1st quarter. Empower Advisory Group LLC now owns 2,248,858 shares of the company’s stock valued at $68,433,000 after acquiring an additional 211,671 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Trading Down 1.6%

NASDAQ:KHC opened at $24.96 on Wednesday. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $25.20 and its 200-day moving average is $26.34. The firm has a market cap of $29.54 billion, a price-to-earnings ratio of -6.69, a P/E/G ratio of 2.88 and a beta of 0.16. 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 earnings per share (EPS) for the quarter. Kraft Heinz had a negative net margin of 17.35% and a positive return on equity of 7.26%. The company had revenue of $6.39 billion for the quarter. Equities analysts anticipate that Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, November 28th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend is Friday, November 28th. Kraft Heinz’s dividend payout ratio is -42.90%.

Analysts Set New Price Targets

A number of research analysts recently commented on KHC shares. Deutsche Bank Aktiengesellschaft reduced their price target on Kraft Heinz from $27.00 to $26.00 in a report on Thursday, October 30th. Stifel Nicolaus cut their price target on Kraft Heinz from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Wednesday, September 3rd. Barclays lowered their price target on Kraft Heinz from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. Evercore ISI reduced their price objective on shares of Kraft Heinz from $30.00 to $28.00 and set an “in-line” rating for the company in a report on Thursday, October 30th. Finally, Piper Sandler lowered their target price 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. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average 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.