Baird Financial Group Inc. Lowers Stock Holdings in Kraft Heinz Company $KHC

Baird Financial Group Inc. lowered its position in Kraft Heinz Company (NASDAQ:KHC) by 28.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 405,790 shares of the company’s stock after selling 158,779 shares during the period. Baird Financial Group Inc.’s holdings in Kraft Heinz were worth $10,478,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Mid American Wealth Advisory Group Inc. bought a new position in shares of Kraft Heinz in the second quarter worth about $39,000. Banque Transatlantique SA purchased a new stake in Kraft Heinz during the 1st quarter valued at approximately $40,000. Hilltop National Bank bought a new stake in shares of Kraft Heinz during the second quarter valued at approximately $41,000. MV Capital Management Inc. lifted its holdings in shares of Kraft Heinz by 300.7% in the second quarter. MV Capital Management Inc. now owns 1,735 shares of the company’s stock worth $45,000 after buying an additional 1,302 shares in the last quarter. Finally, Pinney & Scofield Inc. boosted its position in shares of Kraft Heinz by 48.2% during the second quarter. Pinney & Scofield Inc. now owns 1,851 shares of the company’s stock worth $48,000 after acquiring an additional 602 shares during the last quarter. 78.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. BNP Paribas Exane reduced their price target on shares of Kraft Heinz from $29.00 to $26.00 in a report on Thursday, October 30th. Wells Fargo & Company lowered their target price on Kraft Heinz from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday, October 30th. TD Cowen cut their target price on shares of Kraft Heinz from $28.00 to $26.00 and set a “hold” rating for the company in a report on Thursday, October 30th. Piper Sandler reduced their price objective on Kraft Heinz from $30.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. Finally, Zacks Research lowered Kraft Heinz from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $26.58.

Kraft Heinz Stock Performance

Shares of Kraft Heinz stock opened at $24.34 on Monday. The company has a quick ratio of 0.73, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. The stock’s fifty day moving average is $25.11 and its two-hundred day moving average is $26.28. Kraft Heinz Company has a 52 week low of $23.70 and a 52 week high of $33.35. The company has a market capitalization of $28.81 billion, a PE ratio of -6.53 and a beta of 0.09.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Friday, July 8th. The company reported $0.72 earnings per share (EPS) for the quarter. The firm had revenue of $6.39 billion during the quarter. Kraft Heinz had a negative net margin of 17.35% and a positive return on equity of 7.26%. As a group, analysts expect that Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Cuts Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.60 annualized dividend and a yield of 6.6%. Kraft Heinz’s dividend payout ratio is -42.90%.

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.